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Independent Oil &Gas (IOG)

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Thursday 03 May, 2018

Independent Oil &Gas

Issue of New Shares and Director Shareholding

RNS Number : 9398M
Independent Oil & Gas PLC
03 May 2018
 

 

3 May 2018

Independent Oil and Gas plc

 

Issue of New Shares and Director Shareholding

 

Independent Oil and Gas plc ('IOG' or the 'Company) (AIM: IOG.L), the development and production focused oil and gas company, has today issued a total of 39,562 ordinary shares ('New Ordinary Shares') in the capital of the Company.

On 2 May 2018, a notice was submitted by a past member of the Company's management team, to exercise 39,562 1p options over Ordinary Shares awarded to him, pursuant to a share option agreement dated 1 September 2016.

The Company has applied to the London Stock Exchange for admission of the New Ordinary Shares to trade on AIM ('Admission').  Admission is expected to occur on 9 May 2018.  Following Admission there will be 123,183,137 Ordinary Shares in issue.  Accordingly, this number may 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 the Company under the FCA's Disclosure and Transparency Rules.

 

-ENDS-

 

Certain information communicated in this announcement was, prior to its publication, inside information for the purposes of Article 7 of Regulation 596/2014.

 

Enquiries:

Independent Oil and Gas plc

Andrew Hockey (CEO)

James Chance (CFO)

+44 (0) 20 3879 0510

finnCap Ltd

Christopher Raggett / Anthony Adams

(Corporate Finance)

Emily Morris / Camille Gochez

(Corporate Broking)

+44 (0) 20 7220 0500

Camarco

Georgia Edmonds / Tom Huddart / Monique Perks

+44 (0) 20 3757 4980

About Independent Oil and Gas:

IOG owns substantial low risk, high value gas Reserves in the UK Southern North Sea.  The Company is targeting a 2P peak production rate in excess of 200 MMcfd (c. 35,000 Boe/d) from its substantial current portfolio (2P Reserves of 303 bcf) via an efficient hub strategy.  Alongside this it continues to pursue value accretive acquisitions, to generate significant shareholder returns.  All IOG's licences are owned 100% and operated by IOG.

Further information can be found on www.independentoilandgas.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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