THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
17 May 2017
IGas Energy plc (AIM: IGas)
Annual Report for the Year Ended 31 December 2016, Notice of AGM and Share Consolidation
IGas Energy plc ("the Company") announces that it has today posted its annual report and financial statements to shareholders together with the notice of the 2017 Annual General Meeting ("AGM Notice") and forms of proxy. The Annual General Meeting will be held on 14th June 2017.
Share Consolidation and Subdivision
Following the Company's announcement of 4 April 2017 regarding the successful completion of the restructuring, the Company proposes to undertake a share consolidation and subdivision as set out in Resolution 8 of the AGM Notice, in order to have a number of shares in issue which is more appropriate for the size of the Company.
The Company's issued ordinary share capital currently consists of 2,426,964,198 existing ordinary shares. The number of holders on the Company's share register is some 10,675 as at 9 May 2017 (being the last practicable date before the date of the AGM Notice). Of those 10,675 entries, 3,949 holders have less than 200 existing ordinary shares. A holding of 200 existing ordinary shares has an economic value of £9.96 based on the share price as at close of business on 9 May 2017 (being the latest practicable date prior to the posting of the AGM Notice).
If approved, the share consolidation and subdivision will result in the issued share capital reducing from 2.4bn shares in issue to c.120 million.
For further details please see AGM Notice. The Annual Report and Accounts and AGM Notice will be available on the Company's website at http://www.igasplc.com.
For further information please contact:
IGas Energy plc
Tel: +44 (0)20 7993 9899
Stephen Bowler, Chief Executive Officer
Julian Tedder, Chief Financial Officer
Ann-marie Wilkinson, Director of Corporate Affairs
Investec Bank plc (NOMAD and Joint Corporate Broker)
Tel: +44 (0)20 7597 4000
Sara Hale/Jeremy Ellis/George Price
Canaccord Genuity (Joint Corporate Broker)
Tel: +44 (0)20 7523 8000
Tel: +44 (0)20 7830 9700
Patrick d'Ancona/Chris McMahon