REG - IOG PLC - Issue of Equity and Director/PDMR Dealings

IogAnnouncement

26/10/2022 07:17

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RNS Number : 0996E  IOG PLC  26 October 2022

26 October 2022

IOG plc

 

Issue of Equity and Director/PDMR Dealings

 

IOG plc ("IOG", or "the Company"), (AIM: IOG.L), the Net Zero UK gas and
infrastructure operator focused on high return projects, announces the
following dealings in its ordinary shares of 1 penny each in the capital of
the Company ("Ordinary Shares").

 

Issue of Equity

 

The Company has issued a total of 648,079 Ordinary Shares following the
exercise of options ("Options") over 546,871 Ordinary Shares by Rupert Newall,
CEO, as well as 101,208 Options by other IOG employees pursuant to Salary
Sacrifice Share Option agreements (the "Exercise"). Rupert Newall is not
selling any shares to fund the tax liabilities incurred by his Exercise.

 

The Company has applied to the London Stock Exchange for admission of 648,079
new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to
occur on 31 October 2022. Following Admission there will be 525,037,353
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 Guidance and Transparency Rules.

 

Following Admission, the resultant beneficial shareholding of Rupert Newall
and persons closely associated will be 4,953,921 Ordinary Shares, representing
0.94% of issued share capital.

 

PDMR Dealing

 

Robin Storey, General Counsel, a PDMR of the Company, and a person closely
associated ("PCA") with him have purchased in the market an aggregate of
180,000 Ordinary Shares at a price of 10.85p per Ordinary Share, equating to
an aggregate value of £19,530.

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1.    Details of the person discharging managerial responsibilities / person closely
       associated
 a)    Name                                                         Rupert Newall
 2.    Reason for the Notification
 a)    Position/status                                              CEO
 b)    Initial notification/Amendment                               Initial notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                         IOG 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  Options over Ordinary Shares
       Identification code                                          GB00BF49WF64
 b)    Nature of the transaction                                    Exercise of Options over Ordinary Shares
 c)    Price(s) and volume(s)                                       Exercise of Options over Ordinary Shares

Price(s)  Volume(s)
                                                                    1p        546,871
 d)    Aggregated information:                                      See 4(c)

       ·      Aggregated volume

       ·      Price
 e)    Date of the transaction                                      25 October 2022
 f)    Place of the transaction                                     Exercise: outside of a trading venue

d)

Aggregated information:

·      Aggregated volume

·      Price

See 4(c)

 

e)

Date of the transaction

25 October 2022

f)

Place of the transaction

Exercise: outside of a trading venue

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Robin Storey and PCA
 2    Reason for the notification
 a)   Position/status                                              General Counsel and PCA of Robin Storey
 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer or auction monitor
 a)   Name                                                         IOG 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  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)
      10.85p                                                                                               90,000
      10.85p                                                                                               90,000
 d)   Aggregated information                                       Purchase of 180,000 Ordinary Shares at a price of 10.85p per Ordinary Share
 e)   Date of the transactions                                     25 October 2022
 f)   Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

 

 

Enquiries:

 

 IOG plc                                            +44 (0) 20 7036 1400

 Rupert Newall (CEO)

 James Chance (Head of Capital Markets & ESG)

 finnCap Ltd                                        +44 (0) 20 7220 0500

 Christopher Raggett / Simon Hicks

 Peel Hunt LLP                                      +44 (0) 20 7418 8900

 Richard Crichton / David McKeown

 Vigo Consulting                                    +44 (0) 20 7390 0230

 Patrick d'Ancona / Finlay Thomson

 

About IOG:

 

IOG is a Net Zero UK gas and infrastructure operator focused on high-return
projects. The Company's operations are currently concentrated around its
offshore and onshore Saturn Banks infrastructure in the UK Southern North Sea.
Phase 1 of its Saturn Banks Project, which started production in March 2022,
entails the commercialisation of the Blythe, Elgood and Southwark gas fields
through this infrastructure. Phase 2 of the Saturn Banks Project entails the
Nailsworth, Goddard and Elland gas discoveries, which are subject to future
investment decisions and expected to be commercialised through the same export
infrastructure. The Company also holds further licences with additional assets
including the Abbeydale, Panther and Grafton gas discoveries, the Kelham
North, Kelham Central, Thornbridge and Thornbridge Deep prospects, and part of
the Orrell gas discovery. Currently, all IOG's licences are held 50:50 with
its joint venture partner CalEnergy Resources (UK) Limited and operated by
IOG. In addition, the Company continually evaluates further opportunities for
accretive portfolio additions to help generate additional shareholder returns.
Further details are available at www.iog.co.uk (http://www.iog.co.uk) .

 

 

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