Diversified Gas &Oil Announces Vesting of Restricted Stock Units

Source: www.gulfoilandgas.com 3/1/2021, Location: Europe

Diversified Gas & Oil PLC (DGOC) announces the vesting of Restricted Stock Units ("RSUs") issued under its equity incentive plan (the "Plan") to members of DGO's executive management team, including 78,351 RSUs for Rusty Hutson, CEO and 64,524 RSUs for Brad Gray, COO. The Company has therefore issued and allotted an aggregate of 114,700 new ordinary shares of 1 pence each in the Company (the "New Shares") (net of withholding tax).

DGO has applied for the New Shares to be admitted to the Premium Listing Segment of the Official List of the Financial Conduct Authority and to trading on the main market of the London Stock Exchange PLC, and expects admission to occur on or around 4 March 2021. The New Shares will rank pari passu in all respects with the Company's existing ordinary shares of 1 pence each ("Ordinary Shares").

Mr Hutson and Mr Gray now hold 20,922,899 and 2,369,782 Ordinary Shares, respectively, in the Company, representing 2.96% and 0.33%, respectively, of the Company's issued share capital.

Including the New Shares, the Company has 707,524,818 Ordinary Shares in issue and holds no Ordinary Shares in treasury. Shareholders may use 707,524,818 as the denominator in calculations to determine if they must notify the Company of their interest in, or a change to their invested interest under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.


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