Additional Listing

RNS Number : 1699D

Igas Energy PLC

22 October 2015

 

IGas Energy plc ("IGas" or the "Company") 

Additional Listing

The Company announces that application has been made to the London Stock Exchange for an additional listing totalling 1,273,576 Ordinary Shares of 10p each to trade on the AIM market of the London Stock Exchange.

The application includes a blocklisting of 700,000 Ordinary Shares of 10p each to trade on the AIM market of London Stock Exchange to satisfy the issue of shares under the IGas Energy plc Share Incentive Plan ("SIP").

In addition, the Company announces that application has been made to the London Stock Exchange for the admission of an additional 573,576 Ordinary Shares of 10p each to trade on the AIM market of London Stock Exchange. These shares are being listed in connection with Jefferies International Limited's advisory services relating to the Company's farm-out and purchase agreement with INEOS Upstream which completed on 7 May 2015.

The new Ordinary Shares will rank pari passu in all respects with the Company's existing Ordinary Shares. It is expected that admission will become effective on or around 23 October 2015.

Following this allotment, the issued share capital of the Company has increased to 298,310,734. The total number of voting rights in IGas is 298,310,734, which should 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 IGas under the Financial Conduct Authority's Disclosure and Transparency Rules.

ENQUIRIES

For further information please contact:

IGas Energy plc                                                                                                                   Tel: [phone]

Stephen Bowler, Chief Executive Officer

Ann-marie Wilkinson, Director of Communications

Jefferies International Limited                                                                                     Tel: [phone]

Simon Hardy

Graham Hertrich

Canaccord Genuity                                                                                                             Tel: [phone]

Henry Fitzgerald-O'Connor

About the IGas SIP

In 2013, the Company adopted an Inland Revenue approved Share Investment Plan for all employees of the Group. The scheme is a tax efficient incentive plan pursuant to which all Company employees are eligible to subscribe for up to GBP150 (or 10% of salary, if less) worth of IGas ordinary shares per month. On a three-monthly basis, the Company matches employees' monthly subscriptions on a 1-to-1 basis and, subject to the Company having met pre-defined quarterly production targets, will increase the matching element for that quarter to 2-to-1. To receive their allocation of matching shares, employees must ordinarily remain employed by the Company for a period of 3 years.

 

END

 

 

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