Issue of Options and Director/PDMR Notification

RNS Number : 1577Q

United Oil & Gas PLC

17 June 2020

 

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

United Oil & Gas Plc

 ('United' or 'the Company') 

Issue of Options

Notification of Transactions of Directors/PDMRs

17 June 2020

United Oil & Gas Plc, the AIM traded oil and gas exploration, development and production company, announces the award of options (the "Options") over a total of 14,767,500 new ordinary shares in the capital of the Company ("Ordinary Shares") to Directors of United on the following terms:

(a)  an exercise price of 4 pence;

(b)  date of grant: 17 June 2020;

(c)  a vesting period of three years from the date of granting; and

(d)  expiry date of 16 June 2030.

The Options represent, in aggregate, approximately 2.39 per cent. of the existing issued share capital of the Company. Following the issue, the Company has a total of 37,612,626 options outstanding, representing approximately 6.07 per cent. of the existing issued share capital of the Company. 

These are the first stock options granted to most Directors since 2018. Granting these Options will bring the Executive Directors closer to their peer group in terms of remuneration, in the most cost-effective way possible for the business.  

Following the award of these Options, the Directors hold the following Options:

Director	Position	Options Awarded	Existing Options	Total Options Held	Total Options as Percentage of Existing Issued Share Capital
Brian Larkin	CEO	4,817,500	4,235,294	9,052,794	1.46%
Jonathan Leather	COO	4,100,000	4,058,824	8,158,824	1.32%
David Quirke	CFO	4,100,000	3,666,667	7,766,667	1.25%
Graham Martin	Chairman	1,000,000	1,176,471	2,176,471	0.35%
Alberto Cataruzza	NED	375,000	352,941	727,941	0.12%
Stewart MacDonald	NED	375,000	-	375,000	0.06%

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (MAR).

**ENDS**

For more information please visit the Company's website at www.uogplc.com or contact: 

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]
St Brides Partners (Financial PR/IR)
Frank Buhagiar	[phone]

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	1 Brian Larkin 2 Jonathan Leather 3 David Quirke 4 Graham Martin 5 Alberto Cataruzza 6 Stewart MacDonald
2	Reason for notification
a)	Position / status	1 Chief Executive Officer 2 Chief Operating Officer 3 Chief Financial Officer 4 Chairman 5 Non-Executive Director 6 Non-Executive Director
b)	I nitial notification /Amendment	Initial
3	Detailsoftheissuer, emissionallowancemarketparticipant,auctionplatform, auctioneerorauctionmonitor
a)	Name	United Oil & Gas plc
b)	LEI	213800WZWERBFY
4	Detailsofthetransaction(s): sectiontoberepeatedfor(i)eachtypeofinstrument; (ii)eachtypeoftransaction;(iii)eachdate;and(iv)eachplace wheretransactions havebeenconducted
a)	Description of the financial instrument, type ofinstrument I d e ntification code	Options over ordinary shares of 1 pence each in United Oil & Gas plc vesting three years from date of grant with expiry date of 16 June 2030 ISIN GB00BYX0MB92
	Nature of the transaction	Award of options pursuant to contract of employment
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 1 Exercise price of 4 pence 4,817,500 2 Exercise price of 4 pence 4,100,000 3 Exercise price of 4 pence 4,100,000 4 Exercise price of 4 pence 1,000,000 5 Exercise price of 4 pence 375,000 6 Exercise price of 4 pence 375,000
d)	Aggregated information	n/a
e)	Date of the transaction	17 June 2020
f)	Place of the transaction	Outside a trading venue

 

END

 

 

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