Issue of Share Options, Director/PDMR Shareholding

RNS Number : 6115B

United Oil & Gas PLC

03 October 2022

 

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

3 October 2022

United Oil & Gas Plc

("United" "the Group" or the "Company")

Issue of share options

Director/PDMR Shareholding

The Board of Directors of United Oil & Gas Plc, the AIM traded oil and gas exploration, development and production company, has awarded the following options (the "Share Options") to Chief Financial Officer, Peter Dunne:

Director / PDMR	Position	Options Awarded	Total Options Held
Peter Dunne	Chief Financial Officer	6,862,005	6,862,005

The grant of the Share Options to Peter Dunne relate to a contractual award on commencement of employment, but the issuance of the Share Options has been delayed due to closed periods primarily relating to the interim financial results of the Company.

The Share Options are awarded with the following terms and conditions:

(a) an exercise price of 2.47 pence;

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

(c) an expiry date of ten years from the date of granting.

The total options in issue post the award of Share Options outlined above will be 61,648,984 representing 9.56% of the current issued share capital of 644,803,969.

ENDS

This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

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	Peter Dunne
2	Reason for notification
a)	Position / status	Chief Financial Officer
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	Options over ordinary shares of 1 pence each in United Oil & Gas plc vesting for three years from date of grant, and expiry ten years from date of vesting ISIN GB00BYX0MB92
	Nature of the transaction	Award of options pursuant to contract of employment
c)	Price(s) and volumes(s)	Price(s) Volumes(s) Exercise price of 2.47 pence 6,862,005
d)	Aggregated information	n/a
e)	Date of the transaction	30 September 2022
f)	Place of the transaction	Outside a trading venue

Enquiries
United Oil & Gas Plc (Company)
Brian Larkin, CEO		[e-mail]
Sharan Dhami, Head of IR & ESG		[e-mail]
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish | Felicity Geidt		[phone]
Tennyson Securities (Joint Broker)
Peter Krens		[phone]
Optiva Securities Limited (Joint Broker)
Christian Dennis		[phone]
Camarco (Financial PR)
Georgia Edmonds  |   Emily Hall | Sam Morris		[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, development, appraisal and exploration assets across Egypt, 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  

 

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