Share Incentive Plan

RNS Number : 0440D

Igas Energy PLC

23 January 2015

 



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

IGas Share Incentive Plan

The Company announces that on 22 January 2015, a total of 442,431 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 30.25p.

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

Andrew Austin                     4,464

Stephen Bowler                  4,467

John Blaymires                    4,464

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

Andrew Austin                     10,975,628

Stephen Bowler                  86,292

John Blaymires                    36,375

Following the total Subscription, the issued share capital of the Company has increased to 296,924,562. The total number of voting rights in IGas is 296,924,562, 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]

Andrew Austin, Chief Executive Officer

Stephen Bowler, Chief Financial Officer

Jefferies International Limited                                                                                     Tel: [phone]

Sara Hale 

Graham Hertrich

Canaccord Genuity                                                                                                             Tel: [phone]

Tim Redfern

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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