Completion of Acquisition

RNS Number : 4758U

Igas Energy PLC

16 October 2014

 



16 October 2014

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

Completion of Acquisition

Completion of Acquisition

Following the admission of the consideration shares to trading on AIM, the Board of IGas is pleased to announce that the final condition to the scheme of arrangement has been satisfied by the Admission of the new IGas shares to AIM and that the acquisition of Dart Energy Limited completed earlier today.

Small shareholder sale facility and ineligible overseas shareholder sales in the market

Elections by small shareholders (whose holdings of IGas shares may have been economically unrealisable) amounted to a total of only 140,207 new IGas shares, a further 22,895 new IGas shares were due to be issued to ineligible overseas holders. The aggregate of these shares are being sold by Jefferies for the benefit of the underlying holders.

Director's Shareholding

Following the admission of 89,997,626 consideration shares, the enlarged issued share capital of the Company is now 296,383,031.

As a result of the admission of the shares, the Directors of IGas now have the following interests in the Company:

Name	Number of shares	Interest in Shares
Francis Gugen	27,615,764	9.32%
Andrew Austin	10,969,994	3.70%
Robin Pinchbeck	141,000	0.05%
Stephen Bowler	80,655	0.03%
John Bryant	59,045	0.02%
John Blaymires	30,741	0.01%

- Ends -

For further information please contact:

IGas Energy plc	Tel: [phone]
Andrew Austin, Chief Executive Officer Stephen Bowler, Chief Financial Officer Ann-marie Wilkinson, Head of Communications
Jefferies International Limited	Tel: [phone]
Sara Hale  Graham Hertrich Canaccord Genuity Tim Redfern	Tel: [phone]

MHP

Rupert Trefgarne                                                                     Tel: [phone]

 

END

 

 

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