REG - Independent Oil &Gas - Director/PDMR Shareholding

IogAnnouncement

19/12/2019 13:15

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
 




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