IGas Share Incentive Plan

RNS Number : 1859F

Igas Energy PLC

26 July 2016

 

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

IGas Share Incentive Plan

The Company announces that on 25 July 2016, a total of 502,582 shares were allotted to employees under the IGas Energy Share Incentive Plan ("SIP"), with reference to the mid-market closing price for the measurement period of 11.75p.

The Executive Directors subscribed under the monthly subscription ("Subscription") and, accordingly, have been allotted shares under the SIP as set out below:

Stephen Bowler	7,658
John Blaymires	7,658
Julian Tedder	7,660

Following these Subscriptions, the Executive Directors have interests for disclosure purposes in the voting rights attaching to the following:

Stephen Bowler	124,148
John Blaymires	74,231
Julian Tedder	153,866

Following the total Subscription, the issued share capital of the Company has increased to 302,331,354. The total number of voting rights in IGas is 302,331,354, 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.

26 July 2016

ENQUIRIES

For further information please contact:

IGas Energy plc Tel: [phone]

Stephen Bowler, Chief Executive Officer

Julian Tedder, Chief Financial Officer

Ann-marie Wilkinson, Director of Corporate Affairs

Investec Bank plc (NOMAD and Joint Corporate Broker)

Tel: [phone]

Sara Hale/Jeremy Ellis/George Price

Canaccord Genuity (Joint Corporate Broker) 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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