SOURCE: Ithaca Energy Inc

May 27, 2016 02:01 ET

Ithaca Energy Inc.: Directors' Share Purchase

ABERDEEN, SCOTLAND--(Marketwired - May 27, 2016) - Ithaca Energy Inc. (TSX: IAE) (LSE: IAE)

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

Ithaca Energy Inc.

Directors' Share Purchase

27 May 2016

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") announces that on 26 May 2016 the Officers of the Company increased their beneficial shareholdings through the purchase of Common Shares pursuant to the Company's all-employee Share Incentive Plan ("SIP"). Ithaca was also notified on 26 May 2016 that Alec Carstairs, Non-Executive Director, increased his beneficial shareholding in the Company through the purchase of Common Shares.

Share Incentive Plan Purchases
The individuals named below increased their beneficial shareholdings in the Company by a total of 40,944 Common Shares at a price of £0.5275 per Common Share, being the maximum permissible under the SIP.

             
Name   Designation   Common Shares Purchased   Resultant
Holding
Les Thomas   Officer & Director   10,236 shares   224,117 shares
Graham Forbes   Officer   10,236 shares   286,422 shares
Roy Buchan   Officer   10,236 shares   33,497 shares
Richard Smith   Officer   10,236 shares   75,774 shares
             

These purchases were made by MM&K Share Plan Administration, the trustee of the SIP.

Non-Executive Director Share Purchase
On 26 May 2016, Alec Carstairs purchased 60,000 Common Shares at £0.5176 per share, increasing his beneficial holding to 61,130 Common Shares.

     
Enquiries:    
     
Ithaca Energy    
Graham Forbes gforbes@ithacaenergy.com +44 (0)1224 652 151
Richard Smith rsmith@ithacaenergy.com +44 (0)1224 652 172
     
FTI Consulting    
Edward Westropp edward.westropp@fticonsulting.com +44 (0)207 269 7230
Tom Hufton tom.hufton@fticonsulting.com +44 (0)203 727 1625
     
Cenkos Securities    
Neil McDonald nmcdonald@cenkos.com +44 (0)207 397 8900
Nick Tulloch ntulloch@cenkos.com +44 (0)131 220 6939
Beth McKiernan bmckiernan@cenkos.com +44 (0)131 220 9778
     
RBC Capital Markets    
Daniel Conti daniel.conti@rbccm.com +44 (0)207 653 4000
Matthew Coakes matthew.coakes@rbccm.com +44 (0)207 653 4000
     

About Ithaca Energy
Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) is a North Sea oil and gas operator focused on the delivery of lower risk growth through the appraisal and development of UK undeveloped discoveries and the exploitation of its existing UK producing asset portfolio. Ithaca's strategy is centred on generating sustainable long term shareholder value by building a highly profitable 25kboe/d North Sea oil and gas company. For further information please consult the Company's website www.ithacaenergy.com.

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