23 Aug 2017
Issue of New Shares Aug 17Independent Oil and Gas plc (â€˜IOGâ€™ or the â€˜Company') (AIM: IOG.L), the development and production focused oil and gas company, has today issued a total of 112,727 ordinary shares (â€˜New Ordinary Sharesâ€™) in the capital of the Company.
On 18 August 2017, a notice was submitted by a former officer of the Company to exercise 112,727 1p options over Ordinary Shares awarded to him, pursuant to share option agreements dated 19 November 2014 and 1 March 2015.
The Company has applied to the London Stock Exchange for admission of the New Ordinary Shares to trading on AIM (â€˜Admissionâ€™). Admission is expected to occur on 29 August 2017. Following Admission there will be 109,687,534 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 FCAâ€™s Disclosure and Transparency Rules.
About Independent Oil and Gas:
IOG owns substantial low risk, high value gas resources in the UK Southern North Sea. The Company is targeting 170 MMcfd gas production from its current portfolio of 500 BCF (88 MMBoe) via an efficient gas hub strategy. Alongside this it continues to pursue value accretive acquisitions, to generate significant shareholder returns. All of IOG's licences are owned 100% and operated by IOG.