Final dividend exchange rate and posting of forms

RNS Number : 5150K

Diversified Gas & Oil PLC

10 July 2017

 

10 July 2017

Diversified Gas & Oil PLC

("DGO" or the "Company")

Notice of 2016 Final Dividend Exchange Rate

Posting of Currency Election Form and US Withholding Tax Forms

Diversified Gas & Oil PLC, the US based gas and oil producer, announced on 15 June 2017 a final dividend of 1.99 cents per ordinary share for the year ended 31 December 2016.

Notice of 2016 Final Dividend Exchange Rate and Currency Election Form

Shareholders will receive their dividends in US dollars as the default currency, unless a GBP sterling currency election form is completed and registered with the Company's registrars.

The Company announces that Shareholders who elect to receive their dividends paid in GBP sterling will receive an equivalent payment of 1.55 pence per ordinary share.  Calculation of the GBP sterling equivalent of this dividend is based on the exchange rate of GBP1=US$1.2879 being the exchange rate at the close of business on 7 July 2017.

Shareholders should note that elections can be made only in respect of their entire shareholding and partial elections will not be accepted. It will be possible to make a dividend currency election through CREST for those Shareholders who hold their ordinary shares in uncertificated form in CREST.

Currency election forms will be posted to Shareholders today and will be available shortly from the Company's website www.diversifiedgasandoil.com. The currency election form in respect of the forthcoming dividend payment should be returned to Neville Registrars, 18 Laurel Lane, Halesowen B63 3DA in the pre-paid envelope provided so as to be received by Neville Registrars by 21 July 2017.

US Withholding Tax Forms

The Company is also posting to Shareholders forms issued by the Internal Revenue Service in the United States in relation to the payment of dividends arising from US assets and the payment of US withholding tax thereon. For non-US Shareholders who are individuals, Form W-8BEN (or W-8ECI in some cases) relating to US withholding tax for non-US investors should be completed. For non-US Shareholders who are entities, Form W-8BEN-E (or, if applicable, Form W-8IMY or Form W-8ECI) relating to US withholding tax for non-US investors should be completed. In some cases, Form W-8ECI may be applicable to individual Shareholders that have other U.S. taxable income and file a U.S. income tax return.

For Shareholders who complete and return the US withholding tax form relevant to them, the rate of US withholding tax will be adjusted to a rate of between 0% and 30% depending on the elections provided by the Shareholder in the Form W-8 and in accordance with the withholding rate under the applicable double income tax treaty (for example, 15% under the US-UK treaty).

The US withholding tax forms will also be posted to Shareholders today and will be available shortly from the Company's website www.diversifiedgasandoil.com. To receive the dividend due to be paid on 31 July 2017 at the lower rate of withholding tax, Shareholders must complete and return the relevant W-8 Form to Neville Registrars, 18 Laurel Lane, Halesowen B63 3DA in the pre-paid envelope provided so as to be received by Neville Registrars by 21 July 2017.

Shareholders who do not complete and return these forms will receive the 2016 final dividend and all future dividends after deduction of US withholding tax of 30%.

Subject to Shareholders' approval at the Annual General Meeting on 28 July 2017, the final dividend will be paid on 31 July 2017 to shareholders on the register at the close of business on 7 July 2017.

Shareholders requiring further information relating to W-8 US withholding tax forms may contact the Company on [e-mail]. Shareholders requiring further information relating to currency election forms may contact Neville Registrars on [phone].

Diversified Gas & Oil PLC Rusty Hutson Jr., Chief Executive Officer Brad Gray, Finance Director www.diversifiedgasandoil.com	+ 1 [phone]
Smith & Williamson Corporate Finance Limited (Nominated Adviser & Joint Broker) Russell Cook Katy Birkin	[phone]
Mirabaud Securities LLP (Lead Broker) Peter Krens Edward Haig-Thomas	[phone]
Buchanan (Financial Public Relations) Ben Romney Chris Judd Henry Wilson [e-mail]	[phone]

About Diversified Gas & Oil

Diversified Gas & Oil PLC owns and operates gas and oil producing wells in the Appalachian Basin, one of the largest oil and gas fields in the US.  The Company was founded in 2001 and has grown rapidly in recent years, capitalising upon opportunities to acquire conventional, low risk gas and oil producing assets.  After the completion of its most recent acquisition, DGO will have a total, gross daily production of approximately 18,300 boepd. DGO was admitted to trading on AIM in February 2017.

 

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