Placing, Subscription and Proposed Open Offer – Independent Oil & Gas

Peel Hunt is acting as Joint Bookrunner and Financial Adviser to Independent Oil & Gas PLC on its conditional placing of 165,795,050 new ordinary Shares at 10 pence per share, raising £16.6 million (alongside a proposed subscription to raise £0.275m and an intended Open Offer to raise £2.0m), as announced on 1st April, 2019.