Issue of Share Options

RNS Number : 5340W

United Oil & Gas PLC

02 August 2018

 

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

2 August 2018

United Oil & Gas Plc ('United' or 'the Company') 

Issue of Share Options

The Board of Directors of United Oil & Gas Plc, the London Stock Exchange listed oil and gas exploration and development company, has awarded the following options (the "Share Options") to Directors and Management.

Director/PDMR	Existing Number of Shares	Existing Number of Warrants	New Share Options	% of Issued Share Capital
Brian Larkin	9,755,691	9,755,690	4,235,294	8.15
Jonathan Leather	4,877,810	4,877,810	4,058,823	4.75
Graham Martin	1,411,764	-	1,176,471	0.88
Alberto Cataruzza	-	-	14,388	0.004
Rodney Mooney	-	-	1,294,117	0.44

The Share Options have the following terms and conditions:

(a)  an exercise price of 4.25 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 vesting.

Since United's establishment in 2015 and the IPO in July 2017 at a price of 2.5p, the team has made extensive progress in building a portfolio of low-risk European development, appraisal and exploration assets, as well as implementing a parallel high-impact growth strategy in the Caribbean, South America and Africa.  The Company now has interest in seven projects, six in Europe and one in Jamaica and a pipeline of additional projects that the Board believes have the ability to further enhance shareholder value.  The Share Options have been granted following the annual review and in recognition of the contribution the Directors and Mr Mooney have made to the aforementioned progress, and to continue to incentivise them in delivering United's expansive and rapid development strategy.

**ENDS**

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

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

United Oil & Gas Plc (Company)
Brian Larkin	[e-mail]
Optiva Securities Limited (Broker)
Christian Dennis	[phone]
Beaumont Cornish Limited (Financial Adviser)
Roland Cornish and Felicity Geidt	[phone]
Murray (PR Advisor)	[phone]
Joe Heron	[e-mail]
St Brides Partners (Financial PR/IR)
Frank Buhagiar and Juliet Earl	[phone]

The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation,

Brian Larkin

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Brian Larkin
2	Reason for notification
a)	Position / status	Director
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	213800WZWERBFYBQ9J17
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 Identification code	Ordinary shares of £0.01 each in United Oil & Gas plc ISIN GB00BYX0MB92
	Nature of the transaction	Issue of options over 4,235,294 ordinary shares
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 4.25 pence 4,235,294
d)	Aggregated information	n/a
e)	Date of the transaction	25 June 2018
f)	Place of the transaction	Off market

Jonathan Leather

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Jonathan Leather
2	Reason for notification
a)	Position / status	Director
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	213800WZWERBFYBQ9J17
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 Identification code	Ordinary shares of £0.01 each in United Oil & Gas plc ISIN GB00BYX0MB92
	Nature of the transaction	Issue of options over 4,058,823 ordinary shares
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 4.25 pence 4,058,823
d)	Aggregated information	n/a
e)	Date of the transaction	25 June 2018
f)	Place of the transaction	Off market

Graham Martin

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Graham Martin
2	Reason for notification
a)	Position / status	Director
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	213800WZWERBFYBQ9J17
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 Identification code	Ordinary shares of £0.01 each in United Oil & Gas plc ISIN GB00BYX0MB92
	Nature of the transaction	Issue of options over 1,323,529  ordinary shares
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 4.25 pence 1,176,471
d)	Aggregated information	n/a
e)	Date of the transaction	25 June 2018
f)	Place of the transaction	Off market

Alberto Cataruzza

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Alberto Cataruzza
2	Reason for notification
a)	Position / status	Director
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	213800WZWERBFYBQ9J17
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 Identification code	Ordinary shares of £0.01 each in United Oil & Gas plc ISIN GB00BYX0MB92
	Nature of the transaction	Issue of options over 4,235,294 ordinary shares
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 4.25 pence 14,388
d)	Aggregated information	n/a
e)	Date of the transaction	25 June 2018
f)	Place of the transaction	Off market

Rodney Mooney

1	Details  of  the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Rodney Mooney
2	Reason for notification
a)	Position / status	Director
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	213800WZWERBFYBQ9J17
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 Identification code	Ordinary shares of £0.01 each in United Oil & Gas plc ISIN GB00BYX0MB92
	Nature of the transaction	Issue of options over 1,294,117 ordinary shares
c)	Price(s) and volumes(s)	Price(s) Volumes(s) 4.25 pence 4,058,823
d)	Aggregated information	n/a
e)	Date of the transaction	25 June 2018
f)	Place of the transaction	Off market

Notes to Editors

United Oil & Gas Plc is an independent oil & gas company focused on exposing shareholders to multiple re-rating opportunities via the acquisition and development of assets with a clear line of sight to near-term value unlocking activity.  Established in 2015 by an entrepreneurial management team which had worked together at leading independent Tullow Oil, significant progress has been made since listing.  Leveraging the team's strong technical discipline and established links to the industry, a portfolio of low-risk European development, appraisal and exploration assets has been put in place which underpins a parallel high-impact growth strategy in the Caribbean, South America and Africa. The goal is to create a decent-sized oil company, with cash-flow from European portfolio production to cover G&A and provide free cash-flow to expose shareholders to potentially transformational opportunities.

The following table outlines the company's licences:

Country	Licence	Operator	United Interest
Italy	Podere Gallina Licence	Po Valley Energy Limited	20.00%
United Kingdom	Waddock Cross Field	Egdon Resources UK Limited	26.25%
United Kingdom	PL090 Exploration	Egdon Resources UK Limited	18.95%
United Kingdom	P1918	Corallian Energy Limited	10.00%
United Kingdom	PEDL 330	Corallian Energy Limited	10.00%
United Kingdom	PEDL 345	Corallian Energy Limited	10.00%
Jamaica	Walton-Morant	Tullow Jamaica Ltd	20.00%

 

END

 

 

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