12th May 2006 07:00
Island Oil and Gas PLC12 May 2006 12 May 2006 Island Oil & Gas plc EXERCISE OF WARRANTS Island Oil & Gas plc ("Island" or the "Company") is pleased to announce that,following the exercise of 178,571 warrants issued in connection with theCompany's December 2005 placing, it has issued and allotted 178,571 new OrdinaryShares of €0.01 each in the capital of the Company at the subscription price ofStg£0.70 per share, raising a further Stg£124,999.70. As a result, all 5,937,000warrants issued in connection with the Company's December 2005 placing have nowbeen exercised. The exercise of 100 per cent of the warrants has raisedStg£4,155,900 in total for the Company. Island has applied for the latest tranche of 178,571 new Ordinary Shares to beadmitted to trading on the AIM market of the London Stock Exchange and tradingin these shares is expected to commence on 17 May 2006. The new Ordinary Shareswill rank pari passu with the existing Ordinary Shares of the Company and willincrease the number of shares in issue to 65,141,000. Enquiries: Lisa J Newman MCIPR MIRSNewman Consulting Tel: +44(0)1252 878682 Ends. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
IOG.L