14 Jun 2016
Issue of New Shares Jun 16Independent Oil and Gas plc (the "Company") (AIM: IOG.L), has today issued a total of 1,366,833 ordinary shares (â€œNew Ordinary Sharesâ€) in the capital of the Company.
514,747 New Ordinary Shares will be issued to Paul Murray who has submitted notices to exercise all of the 1p options awarded to him, pursuant to four option agreements:
- 51,878 1p options awarded pursuant to an option agreement dated 19 November 2014;
- 138,173 1p options awarded pursuant to an option agreement dated 1 March 2015;
- 132,381 1p options awarded pursuant to an option agreement dated 31 August 2015; and
- 192,315 1p options awarded pursuant to an option agreement dated 1 March 2016.
852,086 New Ordinary Shares will be issued to current and past members of the Companyâ€™s management team pursuant to option agreements dating back to September 2013.
The Company has applied to the London Stock Exchange for admission of the New Ordinary Shares to trading on AIM (â€œAdmissionâ€). Admission is expected to occur on 17 June 2016. Following Admission there will be 95,121,680 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.