Suspension of Trading & Conditional Acquisition

RNS Number : 3439G

United Oil & Gas PLC

23 July 2019

 

23^rd July 2019

United Oil & Gas PLC

("United" or the "Company")

Suspension of trading on AIM

and Conditional Acquisition

Further to the conditional acquisition of Rockhopper Egypt Pty Limited ("Rockhopper Egypt") RNS announced this morning, United Oil & Gas PLC (AIM: "UOG"), the AIM traded oil and gas exploration and development company, announces that by virtue of its size, the proposed acquisition of Rockhopper Eqypt ("Acquisition") would constitute a reverse takeover under AIM Rule 14. Accordingly, the Company's Ordinary Shares will be suspended from trading on AIM with effect from 07:30am today, pending publication of an AIM admission document and circular to shareholders to approve the Acquisition.

Further announcements will be made, as appropriate, in due course.

Proposed Fundraise

The Directors intend to undertake an equity fundraise in connection with the Acquisition. The proceeds of the proposed fundraise will be used to fund the Acquisition, support the enlarged Group's business plan and for general working capital. Further details will be announced in due course.                                                              

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

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

 

END

 

 

MSCPGUUGMUPBPGP