TIDMIGAS

RNS Number : 8397B

Igas Energy PLC

06 June 2023

6 June 2023

IGas Energy plc (AIM: IGAS)

("IGas" or "the Company")

Grant of awards under the IGas Energy plc Management Retention Plan

In order to better align the interests of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and other key employees of the Group with those of shareholders, the Board of the Company determined that annual bonuses in excess of GBP30,000 will be paid to recipients in a combination of both cash and restricted stock.

Management Retention Plan ("MRP")

The Company announces the following grant to the following Director and PDMR of nil cost options over ordinary shares of the Company of nominal value 0.002 pence per share (the "Shares") under the rules of the Company's MRP, which was adopted by the Board in 2015:

 
 Name of Director/PDMR    Position           Number of ordinary shares 
                                              subject to the award 
                          Chief Financial 
 Frances Ward              Officer           106,406

This award is subject to malus and clawback and may not be exercised or disposed of until 6 February 2024.

The information set out below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation:

 
 1    Details of Director/ PDMR / person closely 
       associated 
 a)   Name                        Frances Ward 
     --------------------------  -------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------ 
 a)   Position / status           Chief Financial Officer 
     --------------------------  -------------------------- 
 b)   Initial notification         Initial notification 
       /amendment 
     --------------------------  -------------------------- 
 3    Details of the issuer 
     --------------------------  -------------------------- 
 a)   Name                        IGas Energy plc 
     --------------------------  -------------------------- 
 b)   LEI                         213800S8WP2L294NR559 
     --------------------------  -------------------------- 
 4    Details of the transaction(s): section 
       to be repeated for (i) each type of instrument; 
       (ii) each type of transaction; (iii) 
       each date; and (iv) each place where 
       transactions have been conducted 
     ------------------------------------------------------ 
 a)   Description of the          Ordinary shares of 
       financial instrument        0.002p each 
     --------------------------  -------------------------- 
 b)   Identification code         ISIN for IGas Energy 
       of the Financial            plc: GB00BZ042C28 
       Instrument 
     --------------------------  -------------------------- 
 c)   Nature of the transaction   Grant of nil cost options 
                                   by the Company under 
                                   the Company's MRP 
     --------------------------  -------------------------- 
 d)   Price(s) and volume(s)       Price / Volume 
     --------------------------  -------------------------- 
                                  (i) GBPnil / 106,406 
     --------------------------  -------------------------- 
 e)   Aggregated information      N/A 
     --------------------------  -------------------------- 
      - Aggregated volume 
     --------------------------  -------------------------- 
      - Price 
     --------------------------  -------------------------- 
 f)   Date of the transaction     31 March 2023 
     --------------------------  -------------------------- 
 g)   Place of the transaction    Outside a trading venue 
     --------------------------  --------------------------

This notification is made pursuant to rule 17 and Schedule 5 of the AIM Rules for Companies.

For further information please contact:

   IGas Energy plc                  Tel: +44 (0)20 7993 9899

Ann-marie Wilkinson, Chief Communications Officer

   Investec Bank plc (NOMAD and Joint Corporate Broker)    Tel: +44 (0)20 7597 5970

Virginia Bull/Chris Sim

   Canaccord Genuity (Joint Corporate Broker)                          Tel: +44 (0)20 7523 8000

Henry Fitzgerald-O'Connor/James Asensio

Vigo Consulting Tel: +44 (0)20 7390 0230

Patrick d'Ancona/Finlay Thomson/Kendall Hill

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END

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(END) Dow Jones Newswires

June 06, 2023 08:18 ET (12:18 GMT)

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