United Oil & Gas PLC Exercise of Warrants, TVR & Directors Shareholding (7566Y)
May 17 2021 - 1:00AM
UK Regulatory
TIDMUOG
RNS Number : 7566Y
United Oil & Gas PLC
17 May 2021
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil
& Gas
17 May 2021
United Oil & Gas PLC
("United" or the "Company")
Exercise of Warrants and Total Voting Rights
Significant Shareholding increases for Executive Directors Brian
Larkin and Jonathan Leather
United Oil & Gas PLC (AIM: "UOG"), the growing oil and gas
company with a portfolio of production, development, exploration
and appraisal assets, announces that it has received notices of
exercise of warrants to subscribe for a total of 19,650,000 new
ordinary shares of GBP0.01 each in the share capital of the Company
(the 'Warrant Shares').
The warrants were granted on 31 July 2017 and expire on 31 July
2022. Accordingly, the Company has issued the Warrant Shares to the
warrant holders, conditional on Admission, for an aggregate cash
consideration of GBP315,000. Details of the warrant holders who
have exercised warrants are contained in the table below.
Warrant Number of Category Date of Issue Exercise Price
Holder Warrants
Brian Larkin 9,755,690 Executive Director 31 July 2017 1.42857p
---------- ------------------- -------------- ---------------
Jonathan
Leather 4,877,810 Executive Director 31 July 2017 1.42857p
---------- ------------------- -------------- ---------------
Other Investors 5,016,500 Investor 31 July 2017 1.42857p -
(1) 2.5p
---------- ------------------- -------------- ---------------
(1. Includes 3,200,000 warrants held by the Company's NOMAD,
Beaumont Cornish Ltd)
Executive Directors Brian Larkin and Jonathan Leather increase
their Shareholdings
Following Admission of the Warrant Shares Mr Larkin, the
Company's CEO, and Mr Leather, the Company's COO, intend to sell a
portion of Warrant Shares to fund the subscription price of the
warrants, but their overall shareholding in the Company will
increase from 1.56% to approx. 2.5% in case of Mr Larkin and from
0.78% to approx. 1.2% in case of Mr Leather. A further announcement
detailing the exact resultant shareholding will be made in due
course.
Application for Admission
Application has been made for the Warrant Shares to be admitted
to trading on the AIM market of the London Stock Exchange
('Admission'). The Warrant Shares will rank pari passu in all
respects with the existing issued ordinary shares of GBP0.01 pence
each in the capital of the Company. Admission is expected to occur
at 8.00am on 20 May 2021.
Total Voting Rights
Following the issue of the Warrant Shares, the total issued
share capital of the Company will consist of 644,803,969 ordinary
shares of GBP0.01 pence each carrying the right to one vote. There
are no shares currently held in treasury. The total number of
voting rights in the Company will therefore be 644,803,969 and this
figure may be used by shareholders as the denominator for the
calculations by which they determine if they are required to notify
their interest in, or a change to their interest in, the Company
under the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR") as it forms
part of UK Domestic Law by virtue of the European Union
(Withdrawal) Act 2018.
United Oil & Gas Plc (Company)
Brian Larkin, CEO brian.larkin@uogplc.com
Beaumont Cornish Limited (Nominated
Adviser)
Roland Cornish and Felicity Geidt +44 (0) 20 7628 3396
Optiva Securities Limited (Broker)
Christian Dennis +44 (0) 20 3137 1902
Murray (PR Advisor) +353 (0) 87 6909735
Joe Heron jheron@murrayconsultants.ie
Camarco (Financial PR/IR)
Billy Clegg +44 (0) 20 3757 4983
Georgia Edmonds uog@camarco.co.uk
James Crothers
Notes to Editors
United Oil & Gas is a high growth oil and gas company with a
portfolio of low-risk, cash generative production and development
assets across Egypt, UK, Italy and a high impact exploration
licence in Jamaica.
The Company is led by an experienced management team with a
strong track record of growing full cycle businesses and partnered
with established industry players and well positioned to deliver
future growth through portfolio optimisation and targeted
acquisitions.
United Oil & Gas is listed on the AIM market of the London
Stock Exchange. For further information on United Oil and Gas
please visit https://www.uogplc.com/
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