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RNS Number : 0293L i3 Energy PLC 11 May 2022
11 May 2022
i3 Energy plc
("i3" or the "Company")
Dividend Increase and June 2022 Dividend Declaration
i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with
assets and operations in the UK and Canada, is pleased to announce the
following update.
Dividend Increase
i3 is pleased to announce that due to the ongoing exceptional performance of
its production assets, positive results from the initial phase of its 2022
development drilling programme, and continuing commodity price strength and
the resultant positive impact on our cash flow projections, the Company has
decided to increase the minimum dividend to be paid in 2022 by 25% from
£11.827mm to £14.784mm. The increase will be implemented by increasing the
monthly dividend.
Monthly Dividend
i3 announces its June 2022 dividend totalling £1.6052 million and confirms
the following:
Dividend: 0.1425 pence/share
Ex-Dividend Date: 19 May 2022
Record Date: 20 May 2022
Payment date: 10 Jun 2022
Payment to shareholders holding their shares on the TSX will be made in
Canadian dollars using the exchange rate from the Bank of England at close on
the Dividend announcement date, 11 May 2022.
END
Enquiries:
i3 Energy plc c/o Camarco
Majid Shafiq (CEO) / Graham Heath (CFO) Tel: +44 (0) 203 781 8331
WH Ireland Limited (Nomad and Joint Broker)
James Joyce, Darshan Patel Tel: +44 (0) 207 220 1666
Tennyson Securities (Joint Broker)
Peter Krens Tel: +44 (0) 207 186 9030
Stifel Nicolaus Europe Limited (Joint Broker)
Ashton Clanfield, Callum Stewart Tel: +44 (0) 20 7710 7600
Camarco
Georgia Edmonds, James Crothers, Violet Wilson Tel: +44 (0) 203 781 8331
Notes to Editors:
i3 Energy is an oil and gas Company with a low cost, diversified, growing
production base in Canada's most prolific hydrocarbon region, the Western
Canadian Sedimentary Basin and appraisal assets in the North Sea with
significant upside.
The Company is well positioned to deliver future growth through the
optimisation of its existing 100% owned asset base and the acquisition of long
life, low decline conventional production assets.
i3 is dedicated to responsible corporate practices and the environment, and
places high value on adhering to strong Environmental, Social and Governance
("ESG") practices. i3 is proud of its performance to date as a responsible
steward of the environment, people, and capital management. The Company is
committed to maintaining an ESG strategy, which has broader implications to
long-term value creation, as these benefits extend beyond regulatory
requirements.
i3 Energy is listed on the AIM market of the London Stock Exchange under the
symbol I3E and on the Toronto Stock Exchange under the symbol ITE. For further
information on i3 Energy please visit https://i3.energy
This announcement does not contain inside information.
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