REG - United Oil & Gas PLC - Exercise of Warrants and TVR

United Oil & GasAnnouncement

Tue 10:15

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RNS Number : 4450I  United Oil & Gas PLC  13 May 2025

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

 

13(th) May 2025

United Oil & Gas plc

("United" or "the Company")

 

Exercise of Warrants and TVR

 

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 that it has received notice to exercise warrants over a
total of 12,500,000 new ordinary shares of £0.00001 each in the Company
("Warrant Shares") at an exercise price of £0.0015 per Warrant Share, raising
£18,750.00 for the Company.

 

The warrants were issued as part of the fundraising completed in December 2024
for which authorities were approved at the General Meeting on the 8 January
2025.

 

 

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

 

"We are pleased to have received the exercise notice from warrant holders,
which reflects continued support for our strategy and further strengthens the
momentum building around our Jamaican farm-out process. With the licence
extended to January 2028, work on our piston core permitting application
progressing, and multiple parties under NDA, we remain focused on securing the
right strategic farm-out partner and delivering value for our shareholders."

 

Total Voting Rights and Admission

Application will be made to the London Stock Exchange for the 12,500,000
Warrant Shares to be admitted to trading on AIM ("Admission").  It is
expected that Admission will become effective and that dealings in the Warrant
Shares will commence at 8.00 a.m. on or around 19 May 2025. The Warrant Shares
will be issued as fully paid and will rank pari passu in all respects with the
existing ordinary shares in the Company.

Following Admission, the Company's issued share capital will consist of
2,028,377,779 ordinary shares of £0.00001 par value each, with voting rights.
The above figure may then 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.

**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

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

 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)

 

 

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