REG - UK Oil & Gas PLC - Employee Benefit Trust Share Subscription

UK Oil & GasAnnouncement

07/08/2025 07:00

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RNS Number : 3203U  UK Oil & Gas PLC  07 August 2025

The information contained within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulation (EU) No.
596/2014, as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018. Upon publication of this announcement, this information
is now considered to be in the public domain.

 

UK Oil & Gas PLC

("UKOG" or the "Company")

 

 

Employee Benefit Trust Share Subscription

 

UK Oil & Gas PLC (London AIM: UKOG) announces that, further to the
establishment of the Company's  Employee Benefit Trust ("EBT") in September
2014, and in keeping with similar schemes operated by AIM listed entities, the
directors have agreed to top-up the Company's EBT ordinary shareholding to its
original level of 10% of the Company's issued share capital. Details of the
EBT and the related employee share incentive plan ("SIP") are given in the
Company's prior RNS of 29(th) September 2014.

 

Consequently, the Company's EBT trustees, Altum Trustees Ltd ("Trustees"),
have today subscribed for 960,427,000 ordinary shares in the Company ("EBT
Shares") at a price per share of £0.000001, being the Company's nominal share
value and which represents 10% of the Company's enlarged share capital
following the allotment of the EBT Shares. The Company has entered into a loan
agreement with the Trustees to fund the subscription of the EBT Shares by the
Trustees.

 

The EBT Shares shall be held in the EBT on trust pending the transfer upon
vesting (or exercise, as the case may be) of any awards granted by the
Company's Remuneration Committee to eligible employees and directors under the
terms and vesting criteria of the Company's SIP. Details of the grant of any
future awards of EBT Shares will be notified upon determination by the
Company's Remuneration Committee of the beneficiaries of such awards, however
no such determination has been made for the time being.

 

Admission

 

Application will be made for the EBT Shares, numbering 960,427,000 ordinary
shares in total, to be admitted to trading on AIM ("Admission") as soon as
practicable following the lifting of UKOG's share suspension.

 

Following Admission, the total voting rights in the Company will be
18,249,134,666 ordinary shares. Shareholders may use this figure as the
denominator by which they are required to notify their interest in, or change
to their interest in, the Company under the FCA's Disclosure, Guidance and
Transparency Rules.

 

For further information, please contact:

UK Oil & Gas plc

Stephen Sanderson / Guzyal
Mukhametzhanova
                                Tel: 01483
941493

 

Zeus (Nominated Adviser and
Broker)

James Joyce / James
Bavister
 
Tel:  0203 829 5000

 

CMC Markets (Joint Broker)

Douglas
Crippen
Tel:  0203 (Tel:0203) 003 8632

 

Communications

Brian
Alexander
Tel: 01483 941493

 

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This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
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RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
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