REG - Ithaca Energy PLC Delek Group - DLEKG - Issue of Shares to the Employee Benefit Trust

Ithaca EnergyAnnouncement

04/10/2023 12:15

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RNS Number : 6968O  Ithaca Energy PLC  04 October 2023

4 October 2023

 

Ithaca Energy plc

("Ithaca Energy" or the "Company")

 

Issue of Shares to the Employee Benefit Trust

 

and

 

Total Voting Rights

 

 

Ithaca Energy, a leading UK independent exploration and production company,
today announces the proposed issue and allotment of 7,807,305 new ordinary
shares in the capital of the Company of £0.01 each (the "New Shares")
intended to be subscribed for at nominal value by Computershare Trustees
(Jersey) Limited (the "Trustee"), as trustee of The Ithaca Energy Plc Employee
Benefit Trust (the "EBT").  The issue and allotment of the New Shares
announced today will enable the newly formed EBT to satisfy share options and
other incentive awards granted to employees of the Company pursuant to the
Company's various employee share incentive plans, following the vesting of
such options and awards.

 

The subscription costs for the New Shares will be funded by way of a loan from
the Company to the Trustee. The New Shares will rank pari passu in all
respects with the Company's existing ordinary shares.

 

Admission and Total Voting Rights

 

Applications have been made to the FCA for admission of the New Shares to the
premium listing segment of the Official List of the FCA and to the London
Stock Exchange for admission of the Shares to trading on the main market for
listed securities of the London Stock Exchange ("Admission"). It is expected
that Admission will become effective on 5 October 2023.

 

Following Admission, the total number of shares in issue in the Company will
be 1,014,372,281. The Company does not hold any shares in treasury and all
shares have equal voting rights. Therefore, the total number of voting rights
in the Company, following Admission, will be 1,014,372,281. This figure 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, Ithaca Energy under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

 

 

 

Enquiries

 

 Ithaca Energy
 Kathryn Reid - Head of Investor Relations, Corporate Affairs &      kathryn.reid@ithacaenergy.com (mailto:kathryn.reid@ithacaenergy.com)
 Communications

 FTI Consulting (PR Advisers to Ithaca Energy)                       +44 (0)203 727 1000
 Ben Brewerton / Nick Hennis                                         ithaca@fticonsulting.com (mailto:ithaca@fticonsulting.com)

About Ithaca Energy plc

 

Ithaca Energy is a leading UK independent exploration and production company
focused on the UK North Sea with a strong track record of material value
creation. In recent years, the Company has been focused on growing its
portfolio of assets through both organic investment programmes and
acquisitions and has seen a period of significant M&A driven growth
centred upon two transformational acquisitions in recent years. Today, Ithaca
Energy is one of the largest independent oil and gas companies in the United
Kingdom Continental Shelf (the "UKCS"), ranking second by resources.

 

With stakes in six of the ten largest fields in the UKCS and two of UKCS's
largest pre-development fields, and with energy security currently being a key
focus of the UK Government, the Group believes it can utilise its significant
reserves and operational capabilities to play a key role in delivering
security of domestic energy supply from the UKCS.

 

Ithaca Energy serves today's needs for domestic energy through operating
sustainably. The Group achieves this by harnessing Ithaca Energy's deep
operational expertise and innovative minds to collectively challenge the norm,
continually seeking better ways to meet evolving demands.

 

Ithaca Energy's commitment to delivering attractive and sustainable returns is
supported by a well-defined emissions-reduction strategy with a target of
achieving net zero by 2040.

 

Ithaca Energy plc was admitted to trading on the London Stock Exchange (LON:
ITH) on 14 November 2022.

 

-ENDS-

 

 

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