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) Damon Heath | Isabella Pierre | | +44 (0) 207 186 9900 |
| | | |
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
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 /Amendment | Initial | ||||||||||||
| 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
Indentification code | New Ordinary Shares of £0.00001 Warrants over Ordinary Shares of £0.00001
ISIN GB00BYX0MB92 | ||||||||||||
| | Nature of the transaction | Share subscription n under a placing and grant of warrants | ||||||||||||
| c) | Price(s) and volumes(s) |
| ||||||||||||
| 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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