Exercise of Warrants, Total Voting Rights

United Oil & Gas

13/06/2025 10:19

RNS Number : 7868M

United Oil & Gas PLC

13 June 2025

 

  United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas

 

13th June 2025

United Oil & Gas plc

("United" or "the Company")

 

Exercise of Warrants

Total Voting Rights

 

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, is pleased to announce the exercise of a total of 33,000,000 warrants at an exercise price of £0.001 per share, raising £33,000 in proceeds for the Company (the "Exercise").   

 

Pursuant to the Exercise, 33,000,000 new Ordinary Shares of £0.00001 each (the "New Ordinary Shares") will be issued to the relevant warrant holder.

 

The warrants were issued as part of the fundraising in December 2024 and were approved at the General Meeting on 8 January 2025.  Following the Exercise, no £0.001 warrants remain outstanding.

 

Brian Larkin, CEO of United Oil & Gas, commented:

 

"We are pleased with the Exercise, which strengthens our near-term funding position., Our focus remains firmly on progressing the right strategic farm-out partner for Jamaica and delivering value for our shareholders."

Total Voting Rights and Admission

Application will be made to the London Stock Exchange for the New Ordinary Shares, which will rank pari passu with all existing ordinary shares in the Company, to be admitted to trading on AIM ("Admission").  Admission is expected on or around 19 June 2025.

On Admission, the Total Voting Rights ("TVR") will be 2,061,377,379 . The above figure may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

 

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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
Optiva Securities Limited (Joint Broker)
Christian Dennis
+44 (0) 20 3137 1902
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 

 

 

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