Issue of Equity and Director/PDMR Dealings

RNS Number : 0996E

IOG PLC

26 October 2022

 

26 October 2022

IOG plc

Issue of Equity and 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 the following dealings in its ordinary shares of 1 penny each in the capital of the Company ("Ordinary Shares") .

Issue of Equity

The Company has issued a total of 648,079 Ordinary Shares following the exercise of options ("Options") over 546,871 Ordinary Shares by Rupert Newall, CEO, as well as 101,208 Options by other IOG employees pursuant to Salary Sacrifice Share Option agreements (the "Exercise"). Rupert Newall is not selling any shares to fund the tax liabilities incurred by his Exercise.

The Company has applied to the London Stock Exchange for admission of 648,079 new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to occur on 31 October 2022. Following Admission there will be 525,037,353 Ordinary Shares in issue. Accordingly, this number 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.

Following Admission, the resultant beneficial shareholding of Rupert Newall and persons closely associated will be 4,953,921 Ordinary Shares, representing 0.94% of issued share capital.

PDMR Dealing

Robin Storey, General Counsel, a PDMR of the Company, and a person closely associated ("PCA") with him have purchased in the market an aggregate of 180,000 Ordinary Shares at a price of 10.85p per Ordinary Share, equating to an aggregate value of £19,530.

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	Rupert Newall
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	Options over Ordinary Shares
	Identification code	GB00BF49WF64
b)	Nature of the transaction	Exercise of Options over Ordinary Shares
c)	Price(s) and volume(s)	Exercise of Options over Ordinary Shares Price(s) Volume(s) 1p 546,871
d)	Aggregated information: · Aggregated volume · Price	See 4(c)
e)	Date of the transaction	25 October 2022
f)	Place of the transaction	Exercise: outside of a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robin Storey and PCA
2	Reason for the notification
a)	Position/status	General Counsel and PCA of Robin Storey
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 1p each
	Identification code	ISIN: GB00BF49WF64
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		10.85p	90,000
		10.85p	90,000
d)	Aggregated information	Purchase of 180,000 Ordinary Shares at a price of 10.85p per Ordinary Share
e)	Date of the transactions	25 October 2022
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

Enquiries:

IOG plc Rupert Newall (CEO) 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 / Finlay Thomson	[phone]

About IOG:

IOG is a Net Zero UK gas and infrastructure operator focused on high-return projects. The Company's operations are currently concentrated around its offshore and onshore Saturn Banks infrastructure in the UK Southern North Sea. Phase 1 of its Saturn Banks Project, which started production in March 2022, entails the commercialisation of the Blythe, Elgood and Southwark gas fields through this infrastructure. Phase 2 of the Saturn Banks Project entails the Nailsworth, Goddard and Elland gas discoveries, which are subject to future investment decisions and expected to be commercialised through the same export infrastructure. The Company also holds further licences with additional assets including the Abbeydale, Panther and Grafton gas discoveries, the Kelham North, Kelham Central, Thornbridge and Thornbridge Deep prospects, and part of the Orrell gas discovery. Currently, all IOG's licences are held 50:50 with its joint venture partner CalEnergy Resources (UK) Limited and operated by IOG. In addition, the Company continually evaluates further opportunities for accretive portfolio additions to help generate additional shareholder returns. Further details are available at www.iog.co.uk . 

 

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