Director/PDMR Shareholding

RNS Number : 2004N

IOG PLC

28 September 2021

 

28 September 2021

IOG plc

Director / PDMR Dealings  

IOG plc ("IOG" or "the Company"), (AIM: IOG.L), the Net Zero UK gas and infrastructure operator focused on high return projects, announces that further to the completion of the Company's Placing and Subscription (together the "Fundraise"), IOG is pleased to confirm the participation in the Fundraise by certain Directors, persons discharging managerial responsibilities ("PDMRs") of the Company, and persons closely associated ("PCAs") with them. Their participation in the Fundraise and revised shareholdings are shown below:

Director/Senior manager	Role	Number of New Ordinary Shares subscribed for	Resulting number of Ordinary Shares held	Percentage of Enlarged Share Capital held on Admission (%)
Fiona MacAulay	Non-Executive Chair	20,000	220,000	0.042
Neil Hawkings	Non-Executive Director	20,000	20,000	0.004
Andrew Hockey	CEO	40,000	830,729	0.159
Rupert Newall	CFO	40,000	3,807,050	0.727
David Gibson	COO	40,000	40,000	0.008
James Chance	Head of Capital Markets & ESG	40,000	618,463	0.118

The following disclosures are made in accordance with the UK version of the EU Market Abuse Regulation 596/2014.

Enquiries:

IOG plc Andrew Hockey (CEO) Rupert Newall (CFO) James Chance (Head of Capital Markets & ESG)	[phone]
finnCap Ltd Christopher Raggett / Simon Hicks	[phone]
Peel Hunt LLP Richard Crichton / David McKeown	[phone]
Vigo Consulting Patrick d'Ancona / Chris McMahon / Oliver Clark	[phone]

About IOG:

IOG's Saturn Banks Project targets a gross peak production rate of 140 mmscf/d (c. 24,000 Boe/d) from gross 2P gas reserves of 302 Bcfe¹ and management estimated 2C gas Contingent Resources of 132 Bcfe, via an efficient hub strategy based on co-owned infrastructure. In addition to its 2P reserves at Blythe, Elgood, Southwark, Nailsworth and Elland and 2C contingent resources at Goddard, it has management estimated gross 2C contingent resources of 23 Bcfe at Abbeydale and gross unrisked mid-case prospective resources of 36 Bcfe at Kelham North, 42 Bcfe at Kelham Central, 58 Bcfe at Thornbridge, 31 Bcfe at Southsea, 28 Bcfe and 19 Bcfe in the two Goddard flank structures, and 21 Bcfe at Harvey. The Orrell discovery, with management estimated gross 2C contingent resources of 42 Bcfe, also lies approximately 50% on the P2442 licence held 50% by IOG.

In December 2020 IOG was also awarded a 50% operated stake in Licence P2589, containing the Panther and Grafton gas discoveries with management estimated gross mid-case contingent resources of 46 Bcfe and 35 Bcfe respectively. In addition, IOG continues to pursue value accretive acquisitions to help generate further significant shareholder returns.

¹ ERC Equipoise Competent Persons Report: October 2017, adjusted by Management to account for updated project timing and compression

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Fiona MacAulay
2.	Reason for the Notification
a)	Position/status	Non-Executive Chair
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IOG plc
b)	LEI	2138005OA2NLZS2NRT74
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary shares of 1 pence each ("Ordinary Shares")
	Identification code	GB00BF49WF64
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price and volume	Price (s) Volume (s) 25.00 p 20,000
d)	Aggregated information: Aggregated volume Price	20,000 25.00 p
e)	Date of the transaction	28 September 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Neil Hawkings
2.	Reason for the Notification
a)	Position/status	Non-Executive Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IOG plc
b)	LEI	2138005OA2NLZS2NRT74
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary shares of 1 pence each ("Ordinary Shares")
	Identification code	GB00BF49WF64
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price and volume	Price (s) Volume (s) 25.00 p 20,000
d)	Aggregated information: Aggregated volume Price	20,000 25.00 p
e)	Date of the transaction	28 September 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Hockey
2.	Reason for the Notification
a)	Position/status	CEO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IOG plc
b)	LEI	2138005OA2NLZS2NRT74
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary shares of 1 pence each ("Ordinary Shares")
	Identification code	GB00BF49WF64
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price and volume	Price (s) Volume (s) 25.00 p 40,000
d)	Aggregated information: Aggregated volume Price	40,000 25.00 p
e)	Date of the transaction	28 September 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Rupert Newall
2.	Reason for the Notification
a)	Position/status	CFO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IOG plc
b)	LEI	2138005OA2NLZS2NRT74
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary shares of 1 pence each ("Ordinary Shares")
	Identification code	GB00BF49WF64
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price and volume	Price (s) Volume (s) 25.00 p 40,000
d)	Aggregated information: Aggregated volume Price	40,000 25.00 p
e)	Date of the transaction	28 September 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Gibson
2.	Reason for the Notification
a)	Position/status	COO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IOG plc
b)	LEI	2138005OA2NLZS2NRT74
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary shares of 1 pence each ("Ordinary Shares")
	Identification code	GB00BF49WF64
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price and volume	Price (s) Volume (s) 25.00 p 40,000
d)	Aggregated information: Aggregated volume Price	40,000 25.00 p
e)	Date of the transaction	28 September 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Chance
2.	Reason for the Notification
a)	Position/status	Head of Capital Markets & ESG
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IOG plc
b)	LEI	2138005OA2NLZS2NRT74
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary shares of 1 pence each ("Ordinary Shares")
	Identification code	GB00BF49WF64
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price (s) Volume (s) 25.00 p 40,000
d)	Aggregated information: Aggregated volume Price (s)	40,000 25.00
e)	Date of the transaction	28 September 2021
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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