Share Incentive Plan

RNS Number : 4262N

Igas Energy PLC

25 October 2016

 

25 October 2016

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

IGas Share Incentive Plan

The Company announces that on 24 October 2016, a total of 489,224 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 12.50p.

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

Stephen Bowler	7,200
John Blaymires	7,200
Julian Tedder	7,200

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

Stephen Bowler	131,348
John Blaymires	81,431
Julian Tedder	161,066

The issued share capital of the Company is 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.

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

Tel: [phone]

Sara Hale

Jeremy Ellis

George Price

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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