Share Incentive Plan

RNS Number : 2911L

Igas Energy PLC

24 April 2015

 

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

IGas Share Incentive Plan

The Company announces that on 22 April 2015, a total of 479,160shares 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 28.25p.

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

Andrew Austin	4,779
Stephen Bowler	4,779
John Blaymires	4,779

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

Andrew Austin	10,980,407
Stephen Bowler	91,071
John Blaymires	41,154

Following the total Subscription, the issued share capital of the Company has increased to 297,403,722. The total number of voting rights in IGas is 297,403,722, 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]

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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