IOG Announces Issue of Equity and PDMR Shareholding

Source: www.gulfoilandgas.com 5/13/2022, Location: Europe

IOG plc, the Net Zero UK gas and infrastructure operator focused on high return projects, has issued a total of 282,267 ordinary shares of 1 penny each in the capital of the Company ("Ordinary Shares") following exercises of options over Ordinary Shares ("Options") by employees of the Company.

Of these Ordinary Shares, 82,267 were issued to James Chance, a PDMR of the Company. On 12 May 2022, a notice was submitted by James Chance, to exercise 82,267 Options pursuant to a Salary Sacrifice Share Option agreement (the "Exercise"). The Options were issued in 2017 and were due to expire shortly. To fund the costs and personal tax liabilities crystallised by the Exercise, James Chance has sold a total of 42,500 Ordinary Shares at a weighted average price of 27.25p per Ordinary Share. On Admission, James Chance will be beneficially interested in a total of 737,353 Ordinary Shares, representing approximately 0.14% of the share capital of the Company on Admission.

Issue of Equity
The Company has applied to the London Stock Exchange for admission of 282,267 new Ordinary Shares to trading on AIM ("Admission"). Admission is expected to occur on 18 May 2022. Following Admission there will be 524,126,460 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 FCA's Disclosure Guidance and Transparency Rules.


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