Director Dealing

RNS Number : 3169A

Indus Gas Limited

31 January 2011

 



For Immediate Release                                                                                       31st January 2011

Indus Gas Limited

("Indus" or "the Company")

Director Dealing

Indus Gas Limited (AIM: INDI.L), an oil and gas exploration and development company with assets in India, announces that on 28th January 2011 Mr Ajay Kalsi, Chief Executive Officer of Indus, sold 19,351,717 ordinary shares of GBP0.01 each in the Company ("Ordinary Shares") at a price of GBP6.50 per Ordinary Share through Arden Partners plc, NOMAD and Broker to the Company. The shares have been placed with a range of existing and new institutional shareholders with good demand in the market.

Following the sale, Mr and Mrs Kalsi, through Gynia Holdings Limited, have a beneficial interest of 126.48 million Ordinary Shares, representing approximately 69.15 per cent. of the issued share capital of the Company.

Commenting, Marc Holtzman, Chairman of Indus, said:

  "We are delighted with this strong level of demand from our existing and new institutional investors. This transaction will widen our shareholder base and should contribute to greater liquidity in our ongoing share trade."

For further information please contact:

Indus Gas Limited
Ajay Kalsi	CEO	[phone]
John Scott	CFO
Arden Partners plc
Richard Day		[phone]
Adrian Trimmings
Pelham PR
Philip Dennis		[phone]
Elena Dobson		[phone]

 

 

END

 

 

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