Independent Oil & Gas PLC (LON:IOG)

Independent Oil & Gas PLC (LON:IOG)


Share Price
14.50 p
Change
0.125 (0.87 %)
Market Cap
£49.03 m
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Independent Oil & Gas PLC RNS Release

Issue of Equity


RNS Number : 5191C
Independent Oil & Gas PLC
17 June 2019
 

 

17 June 2019

Independent Oil and Gas plc

 

Issue of Equity

 

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 638,361 ordinary shares of 1 penny each ('Ordinary Shares') in the capital of the Company.

On 13 June 2019, a notice was submitted by a former officer of the Company, to exercise 638,361 penny options over Ordinary Shares awarded to the former officer, pursuant to a 'salary sacrifice' share option agreement dated 1 March 2019 and confirming the award dated 1 March 2015.

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 Friday 21 June 2019. Following Admission, there will be 338,103,790 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.

 

 

Enquiries:

Independent Oil and Gas plc

Andrew Hockey (CEO)

James Chance (CFO)

+44 (0) 20 3879 0510

finnCap Ltd

Christopher Raggett

Anthony Adams

+44 (0) 20 7220 0500

Peel Hunt LLP

Richard Crichton

David McKeown

+44 (0) 20 7418 8900

Vigo Communications

Patrick d'Ancona

+44 (0) 20 7390 0230

 

 

Notes -

 

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.

 

Further information can be found on www.independentoilandgas.com


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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Independent Oil & Gas PLC Timeline

Newswire
January 04 2019

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