Issue of New Shares

RNS Number : 2960S

Independent Oil & Gas PLC

20 December 2016

 

20 December 2016

Independent Oil and Gas plc

Issue of New Shares

Independent Oil and Gas plc ("IOG" or the "Company") (AIM: IOG.L), the development and production focused Oil and Gas Company, has today issued a total of 3,823,062 ordinary shares ("New Ordinary Shares") in the capital of the Company.

On 19^th December 2016, GE Oil & Gas UK Limited submitted a notice to exercise its remaining 3,252,310 11.9p warrants over Ordinary Shares awarded to it, pursuant to a warrant deed and a warrant certificate both dated 4^th December 2015.

Furthermore, 570,752 Ordinary Shares have been issued at a price of 1p per Share to a past member of the Company's management team pursuant to option agreements dating back to 23^rd September 2013.

The Company has applied to the London Stock Exchange for admission of the New Ordinary Shares to trading on AIM ("Admission").  Admission is expected to occur on 23^rd December 2016. Following Admission there will be 109,268,163 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 and Transparency Rules.

-ENDS-

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

Independent Oil and Gas plc Mark Routh (CEO) Peter Young (CFO)	[phone]
finnCap Ltd Matt Goode / Christopher Raggett (Corporate Finance)	[phone]
Camarco Billy Clegg / Georgia Edmonds	[phone]

 

END

 

 

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