31 Jan 2011 07:00
For Immediate Release 31st January 2011
Indus Gas Limited
("Indus" or "the Company")
Director Dealing
Indus Gas Limited (AIM: INDI.L), an oil and gas exploration and development company with assets in India, announces that on 28th January 2011 Mr Ajay Kalsi, Chief Executive Officer of Indus, sold 19,351,717 ordinary shares of GBP0.01 each in the Company ("Ordinary Shares") at a price of GBP6.50 per Ordinary Share through Arden Partners plc, NOMAD and Broker to the Company. The shares have been placed with a range of existing and new institutional shareholders with good demand in the market.
Following the sale, Mr and Mrs Kalsi, through Gynia Holdings Limited, have a beneficial interest of 126.48 million Ordinary Shares, representing approximately 69.15 per cent. of the issued share capital of the Company.
Commenting, Marc Holtzman, Chairman of Indus, said:
"We are delighted with this strong level of demand from our existing and new institutional investors. This transaction will widen our shareholder base and should contribute to greater liquidity in our ongoing share trade."
For further information please contact:
Indus Gas Limited | ||
Ajay Kalsi | CEO | +44 (0)20 7877 0022 |
John Scott | CFO | |
Arden Partners plc | ||
Richard Day | +44 (0)20 7614 5917 | |
Adrian Trimmings | ||
Pelham PR | ||
Philip Dennis | +44 (0)20 7337 1516 | |
Elena Dobson | +44 (0)20 7337 1517 |
Indus Gas (INDI)