REG - IOG PLC - Issue of Equity and PDMR Shareholding

IogAnnouncement

02/09/2022 12:00

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RNS Number : 1302Y  IOG PLC  02 September 2022

2 September 2022

IOG plc

 

Issue of Equity and PDMR Shareholding

 

IOG plc ("IOG", or "the Company"), (AIM: IOG.L), the Net Zero UK gas and
infrastructure operator focused on high return projects, has issued a total of
174,846 ordinary shares of 1 penny each in the capital of the Company
("Ordinary Shares") following the exercise of options over Ordinary Shares
("Options") by James Chance, a PDMR of the Company.

 

On 31 August 2022, a notice was submitted by James Chance, to exercise 174,846
Options pursuant to a Salary Sacrifice Share Option agreement (the
"Exercise"). The Options were issued in 2017 and 2018 and were due to expire
shortly. To fund the costs and personal tax liabilities crystallised by the
Exercise, James Chance has sold a total of 80,000 Ordinary Shares at a
weighted average price of 28.50p per Ordinary Share. On Admission, James
Chance will be beneficially interested in a total of 832,199 Ordinary Shares,
representing approximately 0.16% of the share capital of the Company on
Admission.

 

Issue of Equity

 

The Company has applied to the London Stock Exchange for admission of 174,846
new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to
occur on 7 September 2022. Following Admission there will be 524,389,274
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.

 

 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 Capital Markets & ESG
 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

                                                                    Ordinary Shares
       Identification code                                          GB00BF49WF64
 b)    Nature of the transaction                                    Exercise of options over ordinary shares

                                                                    Sale of ordinary shares
 c)    Price(s) and volume(s)                                       Exercise of options over ordinary shares

Price(s)  Volume(s)
                                                                    1p        174,846

Sale of ordinary shares

Price(s)  Volume(s)
                                                                    28.50p    80,000
 d)    Aggregated information:                                      See 4(c)

       ·      Aggregated volume

       ·      Price
 e)    Date of the transaction                                      31 August 2022
 f)    Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

Sale of ordinary shares

 Price(s)  Volume(s)
 28.50p    80,000

d)

Aggregated information:

·      Aggregated volume

·      Price

See 4(c)

 

e)

Date of the transaction

31 August 2022

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

Enquiries:

 

 IOG plc                                            +44 (0) 20 7036 1400

 Andrew Hockey (CEO)

 Rupert Newall (CFO)

 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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