Eland Oil & Gas PLC Transaction in Own Shares (9276Q)

TIDMELA

RNS Number : 9276Q

Eland Oil & Gas PLC

22 February 2019

Eland Oil & Gas PLC

("Eland" or the "Company")

Transaction in Own Shares

Eland Oil & Gas PLC (AIM:ELA), an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, announces that it has made the following redemptions pursuant to the share buyback programme (the "Programme") announced on 19 November 2018 and amended on 20 February 2019:

 
 Date of purchase:                         22 February 2019 
 Number of Ordinary Shares purchased:                58,883 
 Highest price paid per Ordinary Share:             125.000 
 Lowest price paid per Ordinary Share:              124.500 
 Volume weighted average price per 
  Ordinary Share:                                   124.967

Following the repurchase of the shares set out above, the Company's issued share capital consists of 220,164,155 Ordinary Shares. 2,073,541 Ordinary shares are held in Treasury. For reporting under the FCA's Disclosure and Transparency Rules, Shareholders should exclude any shares held in Treasury and should use the figure of 218,090,614 Ordinary Shares (the issued voting share capital) when determining if they are required to notify their interest, or a change of their interest in the Company.

The Company will make further announcements in due course following the completion of any further purchases pursuant to the Programme.

In accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 details of the purchase of its own ordinary shares by the Company, which were all executed at the discretion of the Company's broker, Stifel Nicolaus Europe Limited, are set out below:

 
 Schedule of Purchases: 
 Shares purchased:   Eland Oil & Gas PLC (ISIN: GB00B8HHWX64) 
 Date of purchase:                           22 February 2019 
 
 
 Aggregate Information: 
 Aggregated volume                 58,883 
 Volume weighted average price    124.967 
 Venue                               XLON 
 
 
 Individual Transactions: 
                                                 -------------------------- 
 Date of purchase   Time of purchase   Number of Ordinary   Price paid per 
                                        Shares purchased:    Ordinary Share 
                                                                  (p) 
                                                            --------------- 
    22/02/2019          11:28:24             10,000             125.00 
                    ----------------  --------------------  --------------- 
    22/02/2019          14:42:14             3,883              124.50 
                    ----------------  --------------------  --------------- 
    22/02/2019          15:52:35             25,000             125.00 
                    ----------------  --------------------  --------------- 
    22/02/2019          15:52:40             20,000             125.00 
                    ----------------  --------------------  ---------------

For further information:

Eland Oil & Gas PLC (+44 (0)1224 737300)

www.elandoilandgas.com

George Maxwell, CEO

Ronald Bain, CFO

Finlay Thomson, IR

Peel Hunt LLP, Nominated Adviser & Joint Broker (+44 (0)20 7418 8900)

Richard Crichton

David McKeown

Stifel Nicolaus Europe Limited, Joint Broker (+44 (0)20 7710 7600)

Callum Stewart

Nicholas Rhodes

Ashton Clanfield

Camarco (+44 (0) 203 757 4980)

Billy Clegg

Georgia Edmonds

Tom Huddart

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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