REG - United Oil & Gas PLC - Notice of GM and Posting of Circular

United Oil & GasAnnouncement

13/12/2024 07:00

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RNS Number : 9463P  United Oil & Gas PLC  13 December 2024

 

 

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

 

13 December 2024

 

United Oil & Gas plc

("United" or "the Company")

 

Posting of Circular and Notice of General Meeting

 

Further to the "Launch of Placing" and "Results of Fundraising and TVR"
announcements published on 11 and 12 of December 2024 respectively (the
"Placing Announcements") regarding the conditional fundraising of £700,000
("Conditional Fundraising") the Company confirms that it has yesterday
published a shareholder circular (the "Circular") encompassing a notice of
general meeting (the "General Meeting"), which is being convened for the
purpose of proposing a vote in relation to certain resolutions, including
those in connection with the Conditional Fundraising, Fundraising Warrants and
Broker Warrants. The detailed reasons for and background to the resolutions
are set out in the Circular, which has been posted to Shareholders today and
will be uploaded on the Company's website https://www.uogplc.com/
(https://www.uogplc.com/) .

Capitalised terms used in this announcement have the meaning given in the
Placing Announcements and the Circular unless the context requires otherwise
or as otherwise defined herein.

The General Meeting of United is to be held at the offices of Laytons LLP,
First Floor Yarnwicke, 119-121 Cannon Street, London EC4N 5AT on 8 January
2025 at 11.00 a.m.

The Form of Proxy for use in connection with the General Meeting should be
completed and returned in accordance with the instructions thereon so as to be
received by the Company's registrars, Share Registrars Limited, 3 The
Millennium Centre, Crosby Way, Farnham, Surrey GU9 7XX  by no later than
11.00 a.m. on 6 January 2025.

Completion and return of a Form of Proxy will not preclude Shareholders from
attending and voting in person at the General Meeting should they so wish.

Recommendation

The Directors consider the passing of the resolutions contained in the
Circular to be in the best interests of the Company and its Shareholders as a
whole. The additional working capital raised pursuant to the Conditional
Fundraising will be used to progress the Jamaican farmout, fund the associated
administration costs and settle historical creditors. Failure to secure the
funds could hamper the Company's business and impact on its existing licences.
Accordingly, the Directors unanimously recommend that all Shareholders vote in
favour of the resolutions, as they intend to do, or procure to be done, in
respect of their own beneficial shareholdings, in aggregate, 39,098,219
Ordinary Shares, representing approximately 3.38 per cent. of the existing
issued Ordinary Share capital.

 

Indicative Timetable

 

 Publication of the Circular                                                     12 December 2024
 Latest time and date for receipt of forms of proxy, CREST Proxy Instruction or  11:00 a.m. on 6 January 2025
 electronic proxy appointment for use at the General Meeting
 General Meeting                                                                  11:00 a.m. on 8 January 2025
 Expected date of Admission of the Second Tranche Placing Shares to trading on   08:00 a.m. 9 January 2025
 AIM

 

 

  END

 

 Enquiries
 United Oil & Gas Plc (Company)
 Brian Larkin, CEO                                      brian.larkin@uogplc.com (mailto: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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