I3 Energy Regulatory News (I3E)

29 March 2019

i3 Energy plc

("i3" or the "Company")

Result of General Meeting

Capitalised terms used in this announcement (this "Announcement") have the meanings given to them in the announcement made 12th March 2019 regarding the proposed placing (the "Placing Announcement"), unless the context provides otherwise.

Result of General Meeting

i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce that, following the conclusion of its general meeting held earlier today, all resolutions as set out in the circular sent to shareholders of the Company on 13 March 2019 were duly passed. This includes the passing of the resolutions in relation to the Placing so that the Second Tranche of 32,237,716 New Ordinary Shares may be issued, allotted and admitted to trading.

Admission

Admission of the Second Tranche of 32,237,716 New Ordinary Shares will become effective at 8.00 a.m. on 1st April 2019 and dealings will also commence at that time.

Further to the announcement of 25th May 2018, 925,926 Ordinary Shares previously issued to James Card Asset Management ("JCAM") on 25th May 2018 pursuant to the conversion by JCAM of part of the loan then owed to it by the Company have also been applied to be admitted to trading. Admission of these shares is expected to commence on or around 4th April 2019.

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Second Tranche of New Ordinary Shares on 1st April 2019 its issued ordinary share capital will comprise 84,260,681 Ordinary Shares of £0.0001 each. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company will therefore be 84,260,681 on Admission of the Second Tranche of New Ordinary Shares. The above figure may be used by shareholders, at the appropriate dates above, as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.

Further to the announcement on 22nd March 2019, application will be made for the 2,131,538 Ordinary Shares issued to management and the board to be admitted to trading. It is expected that admission of these shares will commence on or around 4th April 2019.

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following admission to trading of the Ordinary Shares to directors and management, as announced on 22 March 2019, its issued ordinary share capital will comprise 86,392,219 Ordinary Shares of £0.0001 each from 4th April 2019. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury. The total number of voting rights in the Company will therefore be 86,392,219 on admission these new Ordinary Shares. The above figure may be used by shareholders, at the appropriate dates above, as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.

ENDS

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