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Press release from Marketwire

Ithaca Energy Inc: Additional Shares Listing & By-Law Approval

Friday, October 11, 2013

Ithaca Energy Inc: Additional Shares Listing & By-Law Approval

02:00 EDT Friday, October 11, 2013

ABERDEEN, SCOTLAND--(Marketwired - October 10, 2013) - Ithaca Energy Inc (TSX VENTURE: IAE)


TSX VENTURE: IAENot for Distribution to U.S. Newswire Services or for Dissemination in the United States Ithaca Energy Inc. Additional Shares Listing & Advance Notice By-Law Approval 11 October 2013Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company")announces the listing of an additional 484,334 common shares in theCompany and provides notice of the approval of the Board of Directorsof the advanced notice by-law that was approved by shareholders at theCompany's annual and special meeting of shareholders in June 2013.Additional Shares ListingFollowing the recent exercise of share options by Ithaca employees(none of whom are Officers or Directors), the Company has issued andallotted a total of 484,334 common shares ("New Common Shares") and hasapplied for these New Common Shares to be admitted to trading on AIM.Admission of the New Common Shares is expected to occur on 17 October2013. Each New Common Share will rank pari passu with the existingcommon shares.Following the issue and allotment of the New Common Shares,the Companywill have a total of 322,233,620 common shares in issue with one votingright per common share. There are no common shares held in treasury.The total number of voting shares in the Company is therefore322,233,620. This figure may be used by shareholders in the Company asthe denominator for the calculations by which they will determine ifthey are required to notify their interest in, or a change in theirinterest in, the share capital of the Company under the UK FinancialServices Authority's Disclosure and Transparency Rules.The total number of common shares under option is now 16,476,900,representing approximately 4.9% of the total shares outstanding andunder option.Advance Notice By-LawThe Board of Directors has approved the adoption of an advance noticeby-law (the "By-law") that was approved by Ithaca's shareholders at theCompany's annual and special meeting of shareholders on 27 June 2013.Among other things, the By-law fixes a deadline by which shareholdersmust submit a notice of Director nominations to the Company in orderfor such nominations to be proposed at annual or special meetings ofshareholders where Directors are to be elected. Further, the By-lawsets forth the information that a shareholder must include in thenotice for it to be valid.In the case of an annual meeting of shareholders, notice to the Companymust be made not less than 30 days, nor more than 65 days, prior to thedate set for the annual meeting. The By-law is effective immediately.A copy of the By-law was included in the proxy materials mailed toshareholders in connection with the meeting on 27 June 2013 and hasbeen filed under the Company's profile at - ENDS -Enquiries:Ithaca EnergyGraham Forbes +44 (0)1224 652 151Richard Smith +44 (0)1224 652 172FTI ConsultingBilly Clegg +44 (0)207 269 7157Edward Westropp +44 (0)207 269 7230Georgia Mann +44 (0)207 269 7212Cenkos SecuritiesJon Fitzpatrick +44 (0)207 397 8900Neil McDonald +44 (0)131 220 6939RBC Capital MarketsTim Chapman +44 (0)207 653 4641Matthew Coakes +44 (0)207 653 4871About Ithaca EnergyIthaca Energy Inc. (TSX: IAE, LSE AIM: IAE) is a North Sea oil and gasoperator focused on the delivery of lower risk growth through theappraisal and development of UK undeveloped discoveries, theexploitation of its existing UK producing asset portfolio and aNorwegian exploration and appraisal business centred on the generationof discoveries capable of monetisation prior to development. Ithaca'sstrategy is centred on generating sustainable long term shareholdervalue by building a highly profitable 25kboe/d North Sea oil and gascompany. For further information please consult the Company's for Distribution to U.S. Newswire Services or for Dissemination in the United States This information is provided by RNS The company news service from the London Stock ExchangeEND


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