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12 Jul 2018 09:56
12 July 2018
Independent Oil and Gas plc
Director Disclosure
Independent Oil and Gas plc ("IOG"), the development and production focused Oil and Gas Company, makes the following disclosure pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.
On 15 April 2015 Martin Ruscoe, Non-Executive Director of IOG, was appointed as Non-Executive Director of Modular Airspace Systems Limited ("Modular"), a company incorporated to provide modular superstructures for residential clients and to the education sector. Following initial successes during 2014, Modular suffered various delays to key contracts and was consequently placed into insolvent liquidation on 11 July 2017 at which time Martin Ruscoe remained a Non-Executive Director of the company. At the time of liquidation, Modular had an estimated deficit to creditors of approximately £130,000.
The directors of IOG do not consider that the events described above have any impact on Martin Ruscoe's suitability to act as a director of IOG and are grateful for the experience and guidance he provides to the board.
-ENDS-
Enquiries:
Independent Oil and Gas plc Andrew Hockey (CEO) James Chance (CFO) | +44 (0) 20 3879 0510 |
finnCap Ltd Christopher Raggett / Anthony Adams (Corporate Finance) Camille Gochez (Corporate Broking) | +44 (0) 20 7220 0500 |
Camarco Georgia Edmonds / Tom Huddart / Monique Perks | +44 (0) 20 3757 4980 |
About Independent Oil and Gas:
IOG owns substantial low risk, high value gas Reserves in the UK Southern North Sea. The Company is targeting a 2P peak production rate in excess of 200 MMcfd (c. 35,000 Boe/d) from its substantial current portfolio (2P Reserves of 303 bcf) via an efficient hub strategy. Alongside this it continues to pursue value accretive acquisitions, to generate significant shareholder returns. All IOG's licences are owned 100% and operated by IOG.
Further information can be found on www.independentoilandgas.com
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