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Issue of New Shares Jun 16

Independent Oil and Gas plc (the "Company") (AIM: IOG.L), has today issued a total of 1,366,833 ordinary shares (“New Ordinary Shares”) in the capital of the Company.
 
514,747 New Ordinary Shares will be issued to Paul Murray who has submitted notices to exercise all of the 1p options awarded to him, pursuant to four option agreements:
  • 51,878 1p options awarded pursuant to an option agreement dated 19 November 2014;
  • 138,173 1p options awarded pursuant to an option agreement dated 1 March 2015;
  • 132,381 1p options awarded pursuant to an option agreement dated 31 August 2015; and
  • 192,315 1p options awarded pursuant to an option agreement dated 1 March 2016.
Paul Murray is a Director of the Company and as a result of this share issue his shareholding will increase from to 951,420 shares to 1,466,167 shares being 1.54% of the new issued share capital of the Company. 
852,086 New Ordinary Shares will be issued to current and past members of the Company’s management team pursuant to option agreements dating back to September 2013.
 
The Company has applied to the London Stock Exchange for admission of the New Ordinary Shares to trading on AIM (“Admission”). Admission is expected to occur on 17 June 2016. Following Admission there will be 95,121,680 Ordinary Shares in issue. Accordingly, this number 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 the Company under the FCA’s Disclosure and Transparency Rules.