Share Buyback Programme

RNS Number : 8737B

Diversified Gas & Oil PLC

11 June 2019

 

11 June 2019

DIVERSIFIED GAS & OIL PLC

("DGO" or the "Company")

Share Buyback Programme

Diversified Gas & Oil PLC (AIM: DGO), the U.S. based owner and operator of natural gas, natural gas liquids and oil wells as well as midstream assets, announced on 30 April 2019 that the Board had approved the terms of a share buyback programme (the "Programme") to buy back the Company's ordinary shares of 1 pence each (the "Shares") and has to date announced purchases of 2,816,971 Shares.  The Company will continue with the Programme through to 11 September 2019 and retains authority to acquire up to a further 51,448,423 Shares.  The Board will keep the form and quantum of the Programme under review while allowing the Company to maintain its current dividend policy.

The Company has entered into an amended agreement with Stifel Nicolaus Europe Limited ("Stifel") to provide Stifel with the authority to purchase Shares under the Programme independently of the Company.

The Programme is intended to reduce the share capital of the Company and limits the maximum number of Shares the Company can buyback to 54,265,394. The Company will execute the Programme within the limitations of the shareholder authority granted at the annual general meeting held on 17 April 2019 and within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU.  DGO will hold as treasury shares any Shares repurchased in accordance with the provisions of the Companies Act 2006 and will cancel the Shares thereafter.

Diversified Gas & Oil PLC Rusty Hutson Jr., Chief Executive Officer Brad Gray, Chief Operating Officer & Finance Director Eric Williams, Chief Financial Officer www.dgoc.com [e-mail]	+ 1 [phone]
Cenkos Securities plc (Nominated Adviser) Russell Cook Katy Birkin Ben Jeynes	[phone]
Mirabaud Securities Limited (Joint Broker) Peter Krens Edward Haig-Thomas	[phone]
Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart Nicholas Rhodes Ashton Clanfield	[phone]
Buchanan (Financial Public Relations) Ben Romney Chris Judd James Husband [e-mail]	[phone]

 

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