12 May 2010 16:06
Island Oil & Gas plc ('Island' or 'the Company')
Issue of Equity
Island today announces it has issued and allotted 10,334,535 ordinary shares having a nominal value of €0.01 each. These shares are issued in consideration for the conversion of the Directors Loans as set out in the Scheme Document.
The total issued share capital of the Company is now 146,261,213 ordinary shares of €0.01 each.
Terms defined in the Scheme Document sent to Island Shareholders on 23 March 2010 have the same meaning as in this announcement.
For further information contact:
Island Oil & Gas plc + 353 1631 3755
Carl Kindinger
Davy Corporate Finance (Financial adviser to Island) + 353 1679 6363
Anthony Farrell
The Island Directors accept responsibility for the information contained in this announcement, except for the information for which responsibility is taken by the San Leon Directors. To the best of the knowledge and belief of the Island Directors (who have taken all reasonable care to ensure that such is the case) the information contained in this announcement for which they are responsible is in accordance with the facts and does not omit anything likely to affect the import of such information.
The distribution of this announcement in jurisdictions in or into certain jurisdictions may be restricted by the laws of those jurisdictions. Accordingly, copies of this announcement and all other documents relating to the Acquisition and/or the Scheme are not being, and must not be, released, published, mailed or otherwise forwarded, distributed or sent in, into or from any Restricted Jurisdiction. Persons receiving such documents (including, without limitation, nominees, trustees and custodians) should observe these restrictions. Failure to do so may constitute a violation of the securities laws of any such jurisdiction.
Davy Corporate Finance, which is authorised and regulated in Ireland by the Financial Regulator, is acting for Island and no one else in relation to the Acquisition and the Scheme and will not be responsible to anyone other than Island for providing the protections afforded to clients of Davy Corporate Finance nor for providing advice in relation to the Acquisition and the Scheme or any other matter referred to herein.