31 Jan 2017 16:30
31 January 2017
IGas Energy plc ("IGas" or the "Company")
IGas Share Incentive Plan
The Company announces that on 30 January 2017, a total of 484,956 shares were allotted to employees under the IGas Energy Share Incentive Plan ("SIP"), with reference to the mid-market closing price for the measurement period of 10.50p.
The Executive Directors subscribed under the monthly subscription ("Subscription") and, accordingly, have been allotted shares under the SIP as set out below:
Stephen Bowler | 8,572 |
John Blaymires | 8,572 |
Julian Tedder | 8,572 |
Following these Subscriptions, the Executive Directors have interests for disclosure purposes in the voting rights attaching to the following:
Stephen Bowler | 139,920 |
John Blaymires | 90,003 |
Julian Tedder | 169,638 |
The issued share capital of the Company is 303,305,534. The total number of voting rights in IGas is 303,305,534, which should 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 IGas under the Financial Conduct Authority's Disclosure and Transparency Rules.
ENQUIRIES
For further information please contact:
IGas Energy plc
Tel: +44 (0)20 7993 9899
Stephen Bowler, Chief Executive Officer
Julian Tedder, Chief Financial Officer
Ann-marie Wilkinson, Director of Corporate Affairs
Investec Bank plc
Tel: +44 (0)20 7597 4000
Sara Hale
Jeremy Ellis
Canaccord Genuity
Tel: +44 (0)20 7523 8000
Henry Fitzgerald-O'Connor
About the IGas SIP
In 2013, the Company adopted an Inland Revenue approved Share Investment Plan for all employees of the Group. The scheme is a tax efficient incentive plan pursuant to which all Company employees are eligible to subscribe for up to GBP150 (or 10% of salary, if less) worth of IGas ordinary shares per month. On a three-monthly basis, the Company matches employees' monthly subscriptions on a 1-to-1 basis and, subject to the Company having met pre-defined quarterly production targets, will increase the matching element for that quarter to 2-to-1. To receive their allocation of matching shares, employees must ordinarily remain employed by the Company for a period of 3 years.