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 94,911 ordinary shares of 1 penny each ('Ordinary Shares') in the capital of the Company.
On 23 May 2019, a notice was submitted by Rupert Newall, a PDMR of the Company, to exercise 94,911 penny options over Ordinary Shares awarded to him, pursuant to a 'salary sacrifice' share option agreement dated 1 March 2019.
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 Thursday 30 May 2019. Following Admission, there will be 337,246,757 Ordinary Shares in issue with one voting right per Ordinary Share. 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.
Independent Oil and Gas plc
Andrew Hockey (CEO)
James Chance (CFO)
+44 (0) 20 3879 0510
+44 (0) 20 7220 0500
Peel Hunt LLP
+44 (0) 20 7418 8900
+44 (0) 20 7390 0230
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 of 114 MMCF/d (c. 20,000 Boe/d) from its substantial Core Project (2P gas Reserves of 302 BCF) via an efficient hub strategy. In addition to the independently verified 2P reserves, IOG now has independently verified 2C contingent gas resources of 108 BCF in Goddard and best estimate unrisked prospective gas resources of 202 BCF in Harvey and Goddard. Alongside this IOG continues to pursue value accretive acquisitions to generate significant shareholder returns. All IOG's licences and the Thames Pipeline are owned 100% and operated by IOG.
Details of the person discharging managerial responsibilities/person closely associated
Reason for the notification
Head of Corporate Finance (PDMR)
Initial notification/ Amendment
Details of the issuer
Independent Oil and Gas plc
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
Description of the Financial Instrument
Independent Oil & Gas plc Ordinary Shares of 1p each
Identification code of the Financial Instrument
Nature of the transaction
Exercise of Options over ordinary shares of 1 penny each in the Company
Price(s) and volume(s)
- Aggregated volume
Date of the transaction
23 May 2019
Place of the transaction
London Stock Exchange, AIM Market (XLON)
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.
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