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24 Nov 2009 14:27
Island Oil & Gas plc ("Island" or the "Company")
Redundancy programme
Following on from a review of the Company's financial position, Island today announces a further retrenchment of the Company's cost base including a company wide redundancy programme. The Board will continue to monitor the Company's financial position on an ongoing basis.
Enquiries:
Davy Corporate Finance
Ivan Murphy / Anthony Farrell
Phone: +353 1 679 6363
College Hill
Nick Elwes
Phone + 44 (0)207 457 2020
Any person who is a holder of one per cent. or more of any class of shares in Island may be required to make disclosures pursuant to Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules 2007 and 2008.
The directors of Island accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Company's Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.
Davy Corporate Finance, which is regulated in Ireland by the Financial Regulator, is acting for Island and no-one else in relation to the approach and will not be responsible to anyone other than Island for providing advice in relation to the approach.
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