REG - United Oil & Gas PLC - Award of Share Options

United Oil & GasAnnouncement

13/11/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251113:nRSM3206Ha&default-theme=true

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 19(th) 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)                   +44 (0) 207 186 9900

 Damon Heath | Isabella Pierre

 

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 (http://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                                           Initial

     /Amendment
 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    Issuance of share options over New Ordinary Shares of £0.00001

     Identification code

                                                                    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

 

 

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                                           Initial

     /Amendment
 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    Issuance of share options over New Ordinary Shares of £0.00001

     Identification code

                                                                    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

 

 

d)

Aggregated information

n/a

e)

Date of the transaction

12 November 2025

f)

Place of the transaction

Outside a trading venue

 

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)
 or visit
www.rns.com (http://www.rns.com/)
.

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
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHPKBBKFBDDDDD



            Copyright 2019 Regulatory News Service, all rights reserved