IGas applies for listing of additional shares

By Romel S. Gurky

British firm IGas Energy plc announced on Thursday that it has made an application to the London Stock Exchange for an additional listing of 1,767,220 ordinary shares of 10 pence each to trade on the AIM market of London Stock Exchange. These shares are being listed in connection with the disposal of the company's interest in Sangatta West CBM Inc under a Share Transfer Agreement with Ephindo International CBM Holding Inc.

Completion is expected to take place on May 13, 2016 and upon completion IGas will have disposed of its remaining interest in Indonesia.

The new ordinary shares will rank equally with the existing ordinary shares of the fompany. It is expected that admission will become effective on May 13, 2016.

Following this allotment, the issued ordinary share capital of the company has increased to 301,828,772 ordinary shares of 10 pence each with voting rights, which figure may 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.

Ephindo said in its website that it has an effective economic interest of 24 percent in the Sangatta I CBM PSC is located in eastern Kalimantan and is joint-operator, via its holding in Sangatta West CBM Inc. (SWCI), which is jointly owned by Dart Energy Ltd. Our other partner in this block is Indonesian national oil company, Pertamina, with a 52 percent working interest. The block originally covered an area of 1,301 km2, but has since been reduced to 1,168 km2 following a 10 percent mandatory relinquishment.

Editing by Johannes Simbolon