REG - United Oil & Gas PLC - Result of AGM and issue of shares

United Oil & GasAnnouncement

25/07/2025 14:00

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RNS Number : 6566S  United Oil & Gas PLC  25 July 2025

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

 

25 July 2025

United Oil & Gas plc

("United" or "the Company")

 

Result of Annual General Meeting and Issue of Fundraising Shares

 

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 Annual General Meeting ("AGM") held
earlier today, all resolutions were duly passed.

 

As a result, the Company will also issue the fundraising shares as announced
on 4(th) July 2025.

 

The proxy results are shown in the table below.

 

 Resolution  For          Against     Total        Withheld
 01          255,882,320  330,801     256,213,121  5,344,436
 02          244,638,746  10,885,182  255,523,928  6,033,629
 03          244,283,081  11,679,365  255,962,446  5,595,111
 04          254,389,644  1,463,370   255,853,014  5,704,543
 05          235,915,369  19,423,566  255,338,935  6,218,622
 06          208,861,346  36,496,641  245,357,987  16,199,570

 

 

Fundraising shares

 

Following the approval of all AGM resolutions, the Company will issue
444,444,444 new ordinary shares with a nominal value of £0.00001 each (the
"New Ordinary Shares"), raising gross proceeds of £800,000 at an issue price
of £0.0018 per share, as detailed in the fundraising announcement (the
"Fundraising") released on 4 July 2025.

 

As part of the Fundraising, participants will also be issued one warrant for
every two new ordinary shares subscribed (the "Warrants"). Each Warrant will
be exercisable at £0.0028 and expire on 24 July 2026.

 

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

 

"We are pleased to have received further support from shareholders to
strengthen our funding position. The proceeds of the Fundraise allow us to
continue advancing the Jamaica farm-out process. We remain focused on securing
the right partner to unlock the value of this transformational asset."

 

Total Voting Rights and Admission

Application will be made to the London Stock Exchange for the New Ordinary
Shares to be admitted to trading on AIM ("Admission").  Admission is expected
on or around 28 July 2025.  At Admission, the Total Voting Rights ("TVR")
will be 2,513,322,223. 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.

The New Ordinary Shares will be issued and credited as fully paid and will
rank in full for all dividends and other distributions declared, made or paid
after the admission of those Ordinary Shares and will otherwise rank on
Admission pari passu in all respects with each other and with the existing
Ordinary Shares in the Company.

 

 

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)

 

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