Union Jack Oil PLC Capital Reduction Update (5321Q)
June 29 2022 - 1:00AM
UK Regulatory
TIDMUJO
RNS Number : 5321Q
Union Jack Oil PLC
29 June 2022
29 June 2022
Union Jack Oil plc
("Union Jack" or the "Company")
Capital Reduction Update
Union Jack Oil plc (AIM: UJO) a UK focused onshore hydrocarbon
production, development and exploration company is pleased to
announce that following the passing of a special resolution of the
Company at its Annual General Meeting on 23 June 2022, the Company
is now pursuing a reduction of capital exercise through the court
procedure ("Capital Reduction").
The Capital Reduction involves an application to the High Court
of Justice, followed by two court hearings, where the Courts will
consider whether any creditors will be prejudiced by the Capital
Reduction.
Once the Capital Reduction is complete and a positive result
obtained, the Company will issue a further announcement outlining
details of a share buy back scheme or the payment of a maiden
dividend.
For further information, please contact
Union Jack Oil plc info@unionjackoil.com
David Bramhill
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser and Broker
Matthew Johnson
Richard Hail
Caroline Rowe
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