23 Oct 2013 15:03
23 October 2013
IGas Energy plc ("IGas" or the "Company")
IGas Share Incentive Plan
As previously announced, under the IGas Energy Share Incentive Plan ("SIP) 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.
Accordingly, a total of 87,696 shares have been allotted to employees under the SIP, with reference to the mid-market closing price for the measurement period of 101p.
The Executive Directors subscribed for their full entitlement under the monthly Subscription and, accordingly, have been allotted shares under the SIP as set out below:
Andrew Austin 1,113
Stephen Bowler 1,113
John Blaymires 1,113
Following these Subscriptions, the Executive Directors' shareholdings are as follows:
Andrew Austin 10,667,075
Stephen Bowler 77,822
John Blaymires 27,822
Following the total Subscription, the issued share capital of the Company has increased to 195,144,927. The total number of voting rights in IGas is 195,144,927, 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
Andrew Austin, Chief Executive Officer
Stephen Bowler, Chief Financial Officer
Jefferies International Limited Tel: +44 (0)20 7029 8000
Sara Hale
Graham Hertrich
Canaccord Genuity Tel: +44 (0)20 7523 8000
Tim Redfern
Henry Fitzgerald-O'Connor