26 Oct 2022 07:00
26 October 2022
IOG plc
Issue of Equity and Director/PDMR Dealings
IOG plc ("IOG", or "the Company"), (AIM: IOG.L), the Net Zero UK gas and infrastructure operator focused on high return projects, announces the following dealings in its ordinary shares of 1 penny each in the capital of the Company ("Ordinary Shares").
Issue of Equity
The Company has issued a total of 648,079 Ordinary Shares following the exercise of options ("Options") over 546,871 Ordinary Shares by Rupert Newall, CEO, as well as 101,208 Options by other IOG employees pursuant to Salary Sacrifice Share Option agreements (the "Exercise"). Rupert Newall is not selling any shares to fund the tax liabilities incurred by his Exercise.
The Company has applied to the London Stock Exchange for admission of 648,079 new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to occur on 31 October 2022. Following Admission there will be 525,037,353 Ordinary Shares in issue. Accordingly, this number may 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 the Company under the FCA's Disclosure Guidance and Transparency Rules.
Following Admission, the resultant beneficial shareholding of Rupert Newall and persons closely associated will be 4,953,921 Ordinary Shares, representing 0.94% of issued share capital.
PDMR Dealing
Robin Storey, General Counsel, a PDMR of the Company, and a person closely associated ("PCA") with him have purchased in the market an aggregate of 180,000 Ordinary Shares at a price of 10.85p per Ordinary Share, equating to an aggregate value of £19,530.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Rupert Newall | ||||
2. | Reason for the Notification | |||||
a) | Position/status | CEO | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | IOG 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 | Options over Ordinary Shares | ||||
Identification code | GB00BF49WF64 | |||||
b) | Nature of the transaction | Exercise of Options over Ordinary Shares | ||||
c) | Price(s) and volume(s) | Exercise of Options over Ordinary Shares
| ||||
d) | Aggregated information: · Aggregated volume · Price | See 4(c)
| ||||
e) | Date of the transaction | 25 October 2022 | ||||
f) | Place of the transaction | Exercise: outside of a trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Robin Storey and PCA | |
2 | Reason for the notification | ||
a) | Position/status | General Counsel and PCA of Robin Storey | |
b)
| Initial notification /Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | IOG 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 | 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) |
10.85p | 90,000 | ||
10.85p | 90,000 | ||
d) | Aggregated information | Purchase of 180,000 Ordinary Shares at a price of 10.85p per Ordinary Share | |
e) | Date of the transactions | 25 October 2022 | |
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | |
Enquiries:
IOG plc Rupert Newall (CEO) James Chance (Head of Capital Markets & ESG)
| +44 (0) 20 7036 1400 |
| |
finnCap Ltd Christopher Raggett / Simon Hicks
| +44 (0) 20 7220 0500 |
| |
Peel Hunt LLP Richard Crichton / David McKeown | +44 (0) 20 7418 8900 |
Vigo Consulting Patrick d'Ancona / Finlay Thomson
| +44 (0) 20 7390 0230 |
About IOG:
IOG is a Net Zero UK gas and infrastructure operator focused on high-return projects. The Company's operations are currently concentrated around its offshore and onshore Saturn Banks infrastructure in the UK Southern North Sea. Phase 1 of its Saturn Banks Project, which started production in March 2022, entails the commercialisation of the Blythe, Elgood and Southwark gas fields through this infrastructure. Phase 2 of the Saturn Banks Project entails the Nailsworth, Goddard and Elland gas discoveries, which are subject to future investment decisions and expected to be commercialised through the same export infrastructure. The Company also holds further licences with additional assets including the Abbeydale, Panther and Grafton gas discoveries, the Kelham North, Kelham Central, Thornbridge and Thornbridge Deep prospects, and part of the Orrell gas discovery. Currently, all IOG's licences are held 50:50 with its joint venture partner CalEnergy Resources (UK) Limited and operated by IOG. In addition, the Company continually evaluates further opportunities for accretive portfolio additions to help generate additional shareholder returns. Further details are available at www.iog.co.uk.