Award of Share Options
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas
19 August 2026
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, the Company on the 18 August 2026 awarded in total 203,814,481 share options under its updated unapproved share option scheme details of which were disclosed in the Remuneration Committee Report in the Company's 2025 Accounts. 97,932,799 share options (representing 2.11% of the Company's current issued share capital) have been awarded to employees and consultants whilst the further 105,881,682 share options (representing 2.28% 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
48,248,136
210,078,708
Iman Hill
Non-Executive Director
20,000,000
21,481,481
Simon Brett
Chief Financial Officer (Non-Board)
37,633,546
116,800,213
Key Terms of the Awards:
a) Exercise price of £0.0024 per ordinary share, which is a 20% premium to the price of Company's July 2026 fundraising.
b) Vesting period of one year from date of grant.
c) Performance criterion: share options vest only if the Company's share price reaches £0.006 per ordinary share, representing a 250% increase on the share option price and 300% on the July 2026 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 is 575,403,278 representing approximately 12.41% of the Company's current issued share capital of 4,636,021,868 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, Iman Hill, the Company's Non-Executive Director, and Simon Brett, the Company's Chief Financial Officer (Non-Board), pursuant to the updated unapproved share option scheme, is regarded as a related party transaction under the AIM Rules. Accordingly, David Williams, being the independent director for the purposes of considering the share option award, considers 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)
£0.0024 pence per Share Option
48,248,136
d)
Aggregated information
n/a
e)
Date of the transaction
18 August 2026
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)
£0.0024 pence per Share Option
37,633,546
d)
Aggregated information
n/a
e)
Date of the transaction
18 August 2026
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Iman Hill
2
Reason for notification
a)
Position / status
Non-Executive 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)
£0.0024 pence per Share Option
20,000,000
d)
Aggregated information
n/a
e)
Date of the transaction
18 August 2026
f)
Place of the transaction
Outside a trading venue
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