Share Incentive Plan

RNS Number : 6446V

Igas Energy PLC

31 January 2017

 

31 January 2017

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

IGas Share Incentive Plan

The Company announces that on 30 January 2017, a total of 484,956 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 10.50p.

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

Stephen Bowler	8,572
John Blaymires	8,572
Julian Tedder	8,572

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

Stephen Bowler	139,920
John Blaymires	90,003
Julian Tedder	169,638

The issued share capital of the Company is 303,305,534. The total number of voting rights in IGas is 303,305,534, 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

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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