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Diversified Gas &Oil - Transaction in Own Shares

RNS Number : 2913U
Diversified Gas & Oil PLC
22 November 2019

22 November 2019



("DGO" or the "Company")


Transaction in own shares


Diversified Gas & Oil plc (AIM: DGO), the US based owner and operator of natural gas, natural gas liquids, oil wells and midstream assets, announces that, in accordance with the terms of its share buyback programme announced on 30 April 2019 it has purchased 167,159 ordinary shares of 1 pence each in the capital of the Company (the "Shares") in the market at a volume weighted average price of 102.47 pence per Share through Stifel Nicolaus Europe Limited ("Stifel").  The Shares acquired will, in due course, be cancelled.


Date of purchase:

21 November 2019

Aggregate number of ordinary shares purchased:


Lowest price paid per share:

102.47 pence

Highest price paid per share:

102.47 pence

Volume weighted average price paid per share:

102.47 pence


The Company, at its discretion, may purchase further Shares in open market transactions from time to time depending on market conditions, share price, trading volume and other factors.  With regard to the net asset value of the Company, the Board believes that the Programme, as and when implemented, will represent an appropriate use of excess cash resources.  The Board will keep the form and quantum of the Programme under review while allowing the Company to maintain its current dividend policy. 


Following the cancellation of Shares the Company will have 659,609,455 ordinary shares of 1 pence each in issue and no ordinary shares are held in treasury.   The figure of 659,609,455 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 Guidance and Transparency Rules.


In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below contains detailed information of the individual trades made by Stifel as part of the buyback programme.


Individual transactions:


Number of shares purchased

Transaction price (pence per share)

Time of transaction

Trading venue




London Stock Exchange


This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.




Diversified Gas & Oil PLC

Rusty Hutson Jr., Chief Executive Officer

Brad Gray, Chief Operating Officer & Finance Director

Eric Williams, Chief Financial Officer


[email protected]



+ 1 (205) 408 0909


Cenkos Securities plc

(Nominated Adviser)

Russell Cook

Katy Birkin

Ben Jeynes



+44 (0)20 7397 8900


Mirabaud Securities Limited

(Joint Broker)

Peter Krens

Edward Haig-Thomas



+44 (0)20 3167 7221


Stifel Nicolaus Europe Limited

(Joint Broker)

Callum Stewart

Nicholas Rhodes

Ashton Clanfield



+44 (0)20 7710 7600


(Financial Public Relations)

Ben Romney

Chris Judd

James Husband

[email protected]

+44 (0)20 7466 5000


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

Quick facts: Diversified Gas & Oil PLC

Price: 103

Market: LSE
Market Cap: £729.91 m

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