Issue of Share Options

RNS Number : 2944O

United Oil & Gas PLC

29 May 2020

 

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

United Oil & Gas Plc

 ('United' or 'the Company') 

Issue of Share Options

29 May 2020

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, David Quirke:

Director / PDMR	Position	Options Awarded	Total Options Held
David Quirke	Chief Financial Officer	3,666,667	3,666,667

The Share Options relate to a contractual award on commencement of employment,  but the issuance of the options has been delayed due to closed periods primarily  relating to the financial results of the Company and the suspension of trading in the Company's shares during the second half of 2019, as a result of the Rockhopper Egypt acquisition. The Share Options are awarded with the following terms and conditions:

(a) an exercise price of 3 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 award.

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

**ENDS**

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	David Quirke
2	Reason for notification
a)	Position / status	Chief Financial Officer
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 with 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 3 pence 3,666,667
d)	Aggregated information	n/a
e)	Date of the transaction	29 May 2020
f)	Place of the transaction	Outside a trading venue

  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]

 

END

 

 

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