Share Incentive Plan

RNS Number : 2370R

Igas Energy PLC

23 October 2013

 



23 October 2013

IGas Energy plc ("IGas" or the "Company") 

IGas Share Incentive Plan

As previously announced, under the IGas Energy Share Incentive Plan ("SIP) on a three-monthly basis, the Company matches employees' monthly subscriptions on a 1-to-1 basis and, subject to the Company having met pre-defined quarterly production targets, will increase the matching element for that quarter to 2-to-1. To receive their allocation of matching shares, employees must ordinarily remain employed by the Company for a period of 3 years.

Accordingly, a total of 87,696 shares have been allotted to employees under the SIP, with reference to the mid-market closing price for the measurement period of 101p.

The Executive Directors subscribed for their full entitlement under the monthly Subscription and, accordingly, have been allotted shares under the SIP as set out below:

Andrew Austin                     1,113

Stephen Bowler                  1,113

John Blaymires                    1,113

Following these Subscriptions, the Executive Directors' shareholdings are as follows:

Andrew Austin                     10,667,075

Stephen Bowler                  77,822

John Blaymires                    27,822

Following the total Subscription, the issued share capital of the Company has increased to 195,144,927. The total number of voting rights in IGas is 195,144,927, which should 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 IGas under the Financial Conduct Authority's Disclosure and Transparency Rules.

ENQUIRIES

For further information please contact:

IGas Energy plc                                                                                                     Tel: [phone]

Andrew Austin, Chief Executive Officer

Stephen Bowler, Chief Financial Officer

Jefferies International Limited                                                 Tel: [phone]

Sara Hale 

Graham Hertrich

Canaccord Genuity                                                                    Tel: [phone]

Tim Redfern

Henry Fitzgerald-O'Connor

 

END

 

 

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