RNS Number : 3206H
United Oil & Gas PLC
13 November 2025
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas
13 November 2025
United Oil & Gas plc
("United" or "the Company")
Award of Share Options
United Oil & Gas Plc (AIM: "UOG"), the oil and gas company with a high-impact exploration asset in Jamaica and a development asset in the UK, announces that, following the RNS of 19th September 2025 regarding the intention to grant performance-related share options, the Company on the 12 November 2025 awarded in total 332,361,111 share options under its updated unapproved share option scheme. 100,416,666 share options (representing 2.47% of the Company's current issued share capital) have been awarded to employees and consultants whilst the further 231,944,445 share options (representing 5.71% of the Company's current issued share capital) have been awarded to PDMRs as detailed below:
Director/PDMR
Position
Number of New Options
Total Options Held
Brian Larkin
Chief Executive Officer & Director
152,777,778
161,830,572
Simon Brett
Chief Financial Officer (Non-Board)
79,166,667
79,166,667
Key Terms of the Awards:
a) Exercise price of £0.0018 per ordinary share, equal to the price of Company's July 2025 fundraising.
b) Vesting period of one year from date of grant
c) Performance criterion: Options vest only if the Company's share price reaches £0.0054 per ordinary share, representing a 300% increase on both the option and July 2025 placing price.
d) The share options will be valid for 10 years from date of issue.
Following this award, the total number of share options in issue will be 373,765,267 representing approximately 9.19% of the Company's current issued share capital of 4,065,855,202 ordinary shares.
These awards are designed to align management incentives directly with shareholder value creation, ensuring that any benefit to participants is realised only following a material increase in the Company's share price.
Related Party Transaction:
The award of new share options to Brian Larkin, the Company's Director and CEO, pursuant to the updated unapproved share option scheme, is regarded as a related party transaction under the AIM Rules. Accordingly, Iman Hill and David Williams, being the independent directors for the purposes of considering the share option award, consider, having consulted with Beaumont Cornish Limited, the Company's Nominated Adviser, that the terms of the award are fair and reasonable insofar as the Company's shareholders are concerned.
**ENDS**
Enquiries
United Oil & Gas Plc (Company)
Brian Larkin, CEO
brian.larkin@uogplc.com
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish | Felicity Geidt | Asia Szusciak
+44 (0) 20 7628 3396
Tennyson Securities (Joint Broker)
Peter Krens
+44 (0) 20 7186 9030
Shard Capital Limited (Joint Broker) Damon Heath | Isabella Pierre
+44 (0) 207 186 9900
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes to Editors
United Oil & Gas is an oil and gas company with a development asset in the UK and a high impact exploration licence in Jamaica.
The business is led by an experienced management team with a strong track record of growing full cycle businesses, partnered with established industry players and is 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 www.uogplc.com
The below notifications are made in accordance with the requirements of Article 19(3) of the UK Market Abuse Regulation:
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Brian Larkin
2
Reason for notification
a)
Position / status
Chief Executive Officer & Director
b)
Initial notification /Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
United Oil & Gas plc
b)
LEI
213800WZWERBFYBQ9J17
4
Details of the transaction(s): section to be repeated for(i)each type of instrument; (ii)each type of transaction;(iii)each date; and (iv)each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
Issuance of share options over New Ordinary Shares of £0.00001 ISIN GB00BYX0MB92
Nature of the transaction
Issuance of Share Options
c)
Price(s) and volumes(s)
Price(s)
Volumes(s)
£0.0018 pence per Share Option
152,777,778
d)
Aggregated information
n/a
e)
Date of the transaction
12 November 2025
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Simon Brett
2
Reason for notification
a)
Position / status
Chief Financial Officer (Non-Board)
b)
Initial notification /Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
United Oil & Gas plc
b)
LEI
213800WZWERBFYBQ9J17
4
Details of the transaction(s): section to be repeated for(i)each type of instrument; (ii)each type of transaction;(iii)each date; and (iv)each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument Identification code
Issuance of share options over New Ordinary Shares of £0.00001 ISIN GB00BYX0MB92
Nature of the transaction
Issuance of Share Options
c)
Price(s) and volumes(s)
Price(s)
Volumes(s)
£0.0018 pence per Share Option
79,166,667
d)
Aggregated information
n/a
e)
Date of the transaction
12 November 2025
f)
Place of the transaction
Outside a trading venue
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