Gasol plc Additional Listing (0893U)

TIDMGAS

RNS Number : 0893U

Gasol plc

21 December 2012

Gasol plc

('Gasol' or the 'Company')

(AIM: GAS)

Equity for Services Share Allotment

Gasol plc, the West African energy development company, announces that it has agreed to issue 1,117,837 ordinary shares in the Company ("Shares") at 13.6p per Share to Erasmus Advisory Services Limited ("Erasmus") in settlement of advisory services provided to the Company by Erasmus in connection with its Benin LNG Import Project. Application has been made for these Shares, which rank pari passu in all respects with the existing Shares, to be admitted to trading on AIM. It is expected that admission will take place on 28 December, 2012.

Erasmus has agreed not to dispose of 558,918 of these Shares until financial close of the Benin LNG Import Project.

- Ends -

For further information, please contact:

 
 Gasol plc 
  Alan Buxton, Chief Operating 
  Officer                         +44 (0) 20 7290 
  www.gasolplc.com                 3300 
 Panmure Gordon (UK) Limited 
  Dominic Morley (Corporate 
  Finance)                        +44 (0) 20 7886 
  Callum Stewart (Corporate        2500 
  Finance) 
  Adam Pollock (Corporate 
  Broking) 
 
  Yellow Jersey PR Limited         +44 (0) 7768 537 
  Dominic Barretto                 739

Notes to Editors:

About Gasol plc

Gasol plc's strategy is to provide African gas for the next generation. Power stations in West Africa currently operate predominantly on liquid fuels such as diesel, light crude and jet fuel, but many of these plants are also capable of using gas. Gasol will initially supply these customers with gas from regasified Liquefied Natural Gas ("LNG"), which can provide significant cost savings in the order of 20 to 30 per cent. This involves the delivery of LNG to a leased Floating Storage and Regasification Vessel, which will be berthed in Cotonou harbour, Benin and will supply the regasified LNG into the West African Gas Pipeline. The West African Gas Pipeline is a 678km gas pipeline involving an investment of over US$1 billion, built to transport gas from Nigeria to Benin, Togo and Ghana which has been operational since March 2011, but today operates at significantly less than full capacity. Once there is sufficient regional demand for gas, Gasol aims to develop captive gas reserves in offshore Nigeria and will supply this gas through the West African Gas Pipeline. This pipeline gas will be cheaper and therefore displace the LNG derived gas, resulting in further savings for customers

Gasol's shares have been listed on the London Stock Exchange's AIM since 2005 with the ticker code "GAS". Further information on the Company is available at www.gasolplc.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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