Director/PDMR Shareholding

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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