REG - United Oil & Gas PLC - GM Results, PDMR Notification, Board Change & TVR

United Oil & GasAnnouncement

08/01/2025 12:01

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RNS Number : 6092S  United Oil & Gas PLC  08 January 2025

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

 

8 January 2025

United Oil & Gas plc

("United" or "the Company")

General Meeting Results, PDMR Notification, Board Change and 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 that at the Company's General Meeting ("GM") held earlier
today, all resolutions, as set out in the circular dated 12 December 2024,
were duly passed.

 

 Resolution  For          Against     Total        Withheld
 1           118,410,533  29,690,487  148,101,020  197,581
 2           118,410,533  29,690,487  148,101,020  197,581

 

 

Accordingly, the conditional Fundraising, the results of which were announced
on 12 December 2024, will complete on the Second Admission to trading of the
Second Tranche Placing and Subscriptions Shares at which time the Placing
Warrants will also be granted.

Application has been made to the London Stock Exchange for the Second Tranche
Placing and Subscription Shares comprising 315,000,000 new ordinary shares of
£0.00001 each, to be admitted to trading on AIM with dealings expected to
commence on AIM at 8.00 a.m. on 9 January 2025.

PDMR Dealing

As set out in the announcement published on 12 December 2024 and in the
Circular, Graham Marin, the Company's Chairman, participated in the
Fundraising and accordingly, as from the Second Admission he will be
interested in 24,089,730 ordinary shares representing 1.3 per cent. of the
Company's enlarged issued share capital following Second Admission.

Board Change

As announced on 11 December 2024, following conclusion of the Company's GM
Graham Martin has stepped down from the Board of United. The Company extends
its gratitude to Graham for his valuable contributions and leadership during
his tenure. The Company is actively looking for a suitable candidate to fill
the Chairman position and will update the market on progress in due course. In
the interim, the CEO will fulfil the role of Chair until a suitable candidate
is found.

Total Voting Rights ("TVR")

The Company's total issued share capital immediately following Second
Admission will be 1,856,353,969 ordinary shares of £0.00001 each carrying the
right to one vote. There are no shares currently held in treasury.
Accordingly, from the Second Admission the total number of voting rights in
the Company will be 1,856,353,969 and this figure may then be used by
shareholders as the denominator for the calculations by which they determine
if they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's DTRs.

Unless otherwise defined therein, the capitalised terms in this announcement
have the same meaning as in the "Results of the Fundraising and TVR"
announcement published on 12 December 2024 and in the Company's Circular dated
12 December 2024.

 

END

 

 

 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)

 

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                                                           Graham Martin
 2   Reason for notification
 a)  Position / status                                              Non-Executive Chairman
 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
 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    New Ordinary Shares of £0.00001

                                                                    Warrants over Ordinary Shares of £0.00001

     Indentification code

                                                                    ISIN GB00BYX0MB92
     Nature of the transaction                                      Share subscription n under a placing and grant of warrants
 c)  Price(s) and volumes(s)

           Price(s)  Volumes(s)
                                                                    New Ordinary Shares  £0.001    10,000,000

 

     Price(s)  Volumes(s)
                                                                    Warrants  £0.0015   5,000,000

 d)  Aggregated information                                         As per 4. c) above
 e)  Date of the transaction                                        8 January 2025
 f)  Place of the transaction                                       Outside a trading venue

 

           Price(s)  Volumes(s)
 Warrants  £0.0015   5,000,000

d)

Aggregated information

As per 4. c) above

e)

Date of the transaction

8 January 2025

f)

Place of the transaction

Outside a trading venue

 

 

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