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Independent Oil &Gas - Director/PDMR Shareholding

RNS Number : 5264X
Independent Oil & Gas PLC
19 December 2019
 

19 December 2019

 

Independent Oil and Gas plc

 

Director & PDMR Dealing

 

Independent Oil and Gas plc ("IOG" or the "Company"), the development and production company focused on becoming a substantial UK gas producer, is pleased to announce that certain Directors and persons discharging managerial responsibilities ("PDMRs") of the Company have purchased in the market 397,434 ordinary shares of 1p each at an average price of 15.633p per share in the Company, equating to an aggregate value of £62,130.86. Share purchases and revised shareholdings are shown below:

Director/Senior manager

Role

Number of Ordinary Shares Purchased

Resultant number of Ordinary Shares held

Percentage of Enlarged Share Capital held directly and by PCA

Andrew Hockey

CEO

121,962

710,729

0.15%

Rupert Newall

CFO

125,000

3,667,050

0.76%

Mark Hughes

COO

125,472

593,770

0.12%

James Chance

Head of Corporate Finance (PDMR)

25,000

125,000

0.03%

 

Following this purchase, Directors and PDMRs of the Company, including Persons Closely Associated ("PCA") holds a total of 5,796,549 ordinary shares, representing 1.2% of the outstanding share capital of the Company.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Andrew Hockey

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

 

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Independent Oil and Gas plc

b)

LEI

2138005OA2NLZS2NRT74

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Independent Oil & Gas plc Ordinary Shares of 1p each 



Identification code

ISIN: GB00BF49WF64



b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

15.875p

62,992

15.92p

58,970

d)

Aggregated information

 

Aggregated price

Aggregated volume

15.897p

121,962

e)

Date of the transactions

19 December 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Rupert Newall

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

 

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Independent Oil and Gas plc

b)

LEI

2138005OA2NLZS2NRT74

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Independent Oil & Gas plc Ordinary Shares of 1p each 



Identification code

ISIN: GB00BF49WF64



b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

14.5p

75,000

15.85p

50,000

d)

Aggregated information

 

Aggregated price

Aggregated volume

15.04p

125,000

e)

Date of the transactions

18 December 2019

19 December 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Hughes

2

Reason for the notification

a)

Position/status

Chief Operating Officer

b)

 

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Independent Oil and Gas plc

b)

LEI

2138005OA2NLZS2NRT74

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Independent Oil & Gas plc Ordinary Shares of 1p each 



Identification code

ISIN: GB00BF49WF64



b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

15.875p

60,000

15.875p

663

15.95p

64,809

d)

Aggregated information

 

Aggregated price

Aggregated volume

15.91p

125,472

e)

Date of the transactions

19 December 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Chance

2

Reason for the notification

a)

Position/status

Head of Corporate Finance and Investor Relations (PDMR)

b)

 

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Independent Oil and Gas plc

b)

LEI

2138005OA2NLZS2NRT74

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Independent Oil & Gas plc Ordinary Shares of 1p each 



Identification code

ISIN: GB00BF49WF64



b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

15.9p

25,000

d)

Aggregated information

 

Aggregated price

Aggregated volume

15.9p

25,000

e)

Date of the transactions

19 December 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

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                                                    +44 (0) 20 3879 0510

Andrew Hockey (CEO)

Rupert Newall (CFO)

James Chance (Head of Corporate Finance & IR)

 

finnCap Ltd                                                                              +44 (0) 20 7220 0500

Christopher Raggett, Simon Hicks (Corporate Finance)

Camille Gochez (Corporate Broking)

 

Peel Hunt LLP                                                                          +44 (0) 20 7418 8900

Richard Crichton

David McKeown

 

Vigo Communications                                                             +44 (0) 20 7390 0230

Patrick d'Ancona

Chris McMahon

Simon Woods

 

About IOG:

 

IOG owns and operates a 50% stake in substantial low risk, high value gas reserves in the UK Southern North Sea. The Company's Core Project targets a gross 2P peak production rate of 140 MMcfe/d (c. 24,000 Boe/d) from gross 2P gas Reserves of 302 Bcfe¹ + 2C gas Contingent Resources of 108 Bcfe², via an efficient hub strategy. In addition to the independently verified 2P reserves at Blythe, Elgood, Southwark, Nailsworth and Elland and 2C Contingent Resources at Goddard, IOG also has independently verified best estimate gross unrisked prospective gas resources of 73 Bcfe² at Goddard. Alongside this IOG continues to pursue value accretive acquisitions to generate significant shareholder returns.

 

1ERC Equipoise Competent Persons Report: October 2017, adjusted by Management to account for updated project timing and compression

2ERC Equipoise Competent Persons Report: October 2018

 


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.
 
END
 
 
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Quick facts: Independent Oil & Gas PLC

Price: 11.375

Market: AIM
Market Cap: £54.62 m
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