Exercise of Warrants and Total Voting Rights

RNS Number : 5308U

United Oil & Gas PLC

30 July 2020

 

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

30 July 2020

United Oil & Gas PLC

("United" or the "Company")

Exercise of Warrants and Total Voting Rights

United Oil and Gas Plc ("United" or the "Company"), the high growth oil and gas company with a portfolio of production, development, exploration and appraisal assets, announces that it has received from Optiva Securities Ltd. a notice of exercise of warrants to subscribe for 6,000,000 new ordinary shares of £0.01 each in the share capital of the Company (the 'Warrant Shares') at a price of £0.025 per share, which were granted on 25 July 2017. Accordingly, the Company has issued the Warrant Shares to the warrant holder, conditional on Admission, for an aggregate cash consideration of £150,000.

Application has been made for the Warrant Shares to be admitted to trading on the AIM market of the London Stock Exchange ('Admission'). The Warrant Shares will rank pari passu in all respects with the existing issued ordinary shares of £0.01 pence each in the capital of the Company. Admission is expected to occur at 8.00am on 5^th August 2020.

Total Voting Rights

Following the issue of the Warrant Shares, the total issued share capital of the Company will consist of 625,153,968 ordinary shares of £0.01 pence each carrying the right to one vote. There are no shares currently held in treasury. The total number of voting rights in the Company will therefore be 625,153,968  and this figure may 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

United Oil & Gas Plc (Company)
Brian Larkin, CEO	[e-mail]
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish and Felicity Geidt	[phone]
Optiva Securities Limited (Joint Broker)
Christian Dennis	[phone]
Cenkos Securities Plc (Joint Broker)
Joe Nally (Corporate Broking) Derrick Lee and Pete Lynch	[phone] [phone]
Murray (PR Advisor)	[phone]
Joe Heron	[e-mail]
Camarco (Financial PR/IR)
Billy Clegg Georgia Edmonds James Crothers	[phone] [e-mail]

Notes to Editors

United Oil & Gas is a high growth oil and gas company with a portfolio of low-risk, cash generative production and development assets across Egypt, UK, Italy and a high impact exploration licence in Jamaica.

Led by an experienced management team with a strong track record of growing full cycle businesses and partnered with established industry players, the Company 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 https://www.uogplc.com/ 

 

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