Transaction in Own Shares

RNS Number : 2913U

Diversified Gas & Oil PLC

22 November 2019

 

22 November 2019

DIVERSIFIED GAS & OIL PLC

("DGO" or the "Company")

Transaction in own shares

Diversified Gas & Oil plc (AIM: DGO), the US based owner and operator of natural gas, natural gas liquids, oil wells and midstream assets, announces that, in accordance with the terms of its share buyback programme announced on 30 April 2019 it has purchased 167,159 ordinary shares of 1 pence each in the capital of the Company (the "Shares") in the market at a volume weighted average price of 102.47 pence per Share through Stifel Nicolaus Europe Limited ("Stifel").  The Shares acquired will, in due course, be cancelled.

Date of purchase:	21 November 2019
Aggregate number of ordinary shares purchased:	167,159
Lowest price paid per share:	102.47 pence
Highest price paid per share:	102.47 pence
Volume weighted average price paid per share:	102.47 pence

The Company, at its discretion, may purchase further Shares in open market transactions from time to time depending on market conditions, share price, trading volume and other factors.  With regard to the net asset value of the Company, the Board believes that the Programme, as and when implemented, will represent an appropriate use of excess cash resources.  The Board will keep the form and quantum of the Programme under review while allowing the Company to maintain its current dividend policy. 

Following the cancellation of Shares the Company will have 659,609,455 ordinary shares of 1 pence each in issue and no ordinary shares are held in treasury.   The figure of 659,609,455 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below contains detailed information of the individual trades made by Stifel as part of the buyback programme.

Individual transactions:

Number of shares purchased	Transaction price (pence per share)	Time of transaction	Trading venue
167,159	102.47	16:24:33	London Stock Exchange

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Diversified Gas & Oil PLC Rusty Hutson Jr., Chief Executive Officer Brad Gray, Chief Operating Officer & Finance Director Eric Williams, Chief Financial Officer www.dgoc.com [e-mail]	+ 1 [phone]
Cenkos Securities plc (Nominated Adviser) Russell Cook Katy Birkin Ben Jeynes	[phone]
Mirabaud Securities Limited (Joint Broker) Peter Krens Edward Haig-Thomas	[phone]
Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart Nicholas Rhodes Ashton Clanfield	[phone]
Buchanan (Financial Public Relations) Ben Romney Chris Judd James Husband [e-mail]	[phone]

 

END

 

 

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