Information for former Dart Shareholders
Questions and Answers for new IGas Energy plc (IGas) shareholders
On 16 October 2014, the acquisition of Dart Energy Limited (Dart) by IGas by way of a Scheme of Arrangement (the Scheme), was implemented. As a result of this Scheme, existing Dart shareholders who had not elected to participate in the Small Shareholder Sale Facility (as set out by Dart in a document dated 23 July 2014 to its shareholders (the SSSF)) and who were not Ineligible Foreign Shareholders (see ‘What is an Ineligible Foreign Shareholder?’ below) received new IGas shares at a rate of 0.08117 new IGas shares for each Dart share on the Scheme’s record date, which was 7pm (AEST) on the 9 October 2014. Please note that eligible shareholders were invited to elect to participate in the Small Shareholder Sale Facility by the Closing Time (as defined in the SSSF) and that this Closing Time has now passed and no further election is possible. The SSSF has been fully closed and participating interests have been sold.
Below are a set of Questions and Answers that help answer queries you may have following the Scheme’s implementation
Q – I’ve received information in the post, what have I received, and why?
A - Enclosed in your envelope (New Shareholder Package) were:
- Your new IGas share certificate (please keep this safe).
- A CREST Dematerialisation Form (use this if you wish to transfer your shares from a certificated holding to a non-certificated holding).
- Deemed Consent Form (by following the instructions and replying by the deadline marked on the Deemed Consent Form you will be able to choose the way that you can receive future information from us). Please see below ‘What is a Deemed Consent Form?’.
Q - Can I hold my shares electronically?
A - Yes you can. To hold your shares in CREST (the UK’s version of CHESS) you need to complete and submit the Dematerialisation Form and the share certificate that you received in your New Shareholder Package to your chosen local broker.
Please note that dematerialising and trading of shares remains the responsibility of the individual shareholder. We are not permitted to endorse or recommend any names of brokers. Shareholders must locate a broker that can deal internationally and in particular across London and Australia. You may find the following link helpful https://connectonline.asic.gov.au/RegistrySearch/faces/landing/ProfessionalRegisters.jspx?_adf.ctrl-state=4tf9lcsxh_4
Q - Why have I received a share certificate?
A - IGas is listed on the AIM segment of the London Stock Exchange. IGas shares can be held in either certificated or uncertificated form. Eligible former Dart shareholders have been issued their shares in certificated form but you can choose to dematerialise your shares as explained at ‘Can I hold my shares electronically?’ below.
Q - What do I need to do with my share certificate?
A - You must keep your certificate in a safe place, as you will need to produce the share certificate should you wish to sell/transfer your new IGas shares.
Q - How do I sell my shares?
A - To sell your shares you would need to engage a broker local to you, who will be able to advise you of the process. Please see also ‘Can I hold my shares electronically?’ above.
Q - Do I still own any Dart shares?
A - No, the IGas shares that you have received were issued as Scheme consideration for your Dart shares.
Q – The share certificate I received states that I hold IGas shares of 10p each, what does the 10p relate to?
A – The 10 pence is the nominal value (also known as the face value) of each IGas share. Please note that this is different to the market value of the share, which may be more or less than the nominal value. The closing market share price for each preceding day is posted on the website of the London Stock Exchange www.londonstockexchange.com/prices-and-markets/markets/prices
Q - What is an Ineligible Foreign Shareholder?
A - Ineligible Foreign Shareholders are former Dart shareholders whose address on Dart’s share register as at the Record Date was a place outside Australia and its external territories, New Zealand, the United Kingdom, Hong Kong and Singapore. Those Ineligible Foreign Shareholders did not receive new IGas shares under the Scheme. Instead, the new IGas shares that would otherwise have been issued to Ineligible Foreign Shareholders were issued to a designated Foreign Nominee Sale Agent on 16 October 2014. If you were an Ineligible Foreign Shareholder, further details of how the Foreign Nominee Sale Agent dealt with such shares can be found in the Scheme Booklet at: http://igasplc.com/media/10856/acquisition-scheme-booklet.pdf
Q - What is a Deemed Consent Form?
A - A Deemed Consent Form, once completed and returned, will tell us how you wish to receive future IGas documents and information. You can request to receive such documents and information either electronically or by post. If IGas’ Registrar (Computershare Investor Services PLC) has not received confirmation of how you would like to receive future IGas documents and information by 21 November 2014, you will be taken to have agreed to have accepted receipt of documents and information electronically and will receive a hard copy proxy form in the post with details of how to view IGas documents and information online. It should be noted that IGas Registrar will also accept your election details by telephone on the number shown below.
If you do have any further queries, please contact IGas’ Registrar by telephone, between 8.30am and 5pm (UK time) on +44 (0) 870 707 1106, or by email to firstname.lastname@example.org