Independent Oil &Gas (LON:IOG) 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 690,960 ordinary shares (‘New Ordinary Shares’) in the capital of the Company.

On 29 July 2019, a notice was submitted by Andrew Hockey, the Chief Executive Officer of the Company, to exercise 488,767 1p options over Ordinary Shares; and on 30 July 2019, a notice was submitted by Mark Hughes, the Chief Operating Officer of the Company, to exercise 162,193 1p options over Ordinary Shares. These options were awarded to them pursuant to Salary Sacrifice Share Option agreements 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 5 August 2019.  Following Admission, there will be 341,332,750 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.

This exercise of options increases Andrew Hockey’s holding in the Company from 100,000 Ordinary Shares, 0.03% of the current number of shares in issue to 588,767 Ordinary Shares, 0.17% of the enlarged share capital of the Company; and increase Mark Hughes’ holding in the Company from 306,105 Ordinary Shares, 0.09% of the current number of shares in issue to 468,298 Ordinary Shares 0.14% of the enlarged 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

Amendment

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

Exercise of options over ordinary shares

Identification code

GB00BF49WF64

b)

Nature of the transaction

Exercise of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1p

488,767

d)

Aggregated information:

·      Aggregated volume

·      Price

n/a

 

e)

Date of the transaction

29 July 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

Amendment

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

Exercise of options over ordinary shares

Identification code

GB00BF49WF64

b)

Nature of the transaction

Exercise of options

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1p

162,193

d)

Aggregated information:

·      Aggregated volume

·      Price

n/a

 

e)

Date of the transaction

30 July 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

-ENDS-

 

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

 


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