Grant of Options

RNS Number : 9541U

Union Jack Oil PLC

18 July 2018

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement

18 July 2018

Union Jack Oil plc

("Union Jack" or the "Company")

Grant of Options

Union Jack Oil plc (AIM: UJO), a UK-focused onshore hydrocarbon production, development and exploration company announces that 120,000,000 share options have been granted to David Bramhill, Executive Chairman and 60,000,000 share options have been granted to Joe O`Farrell, Executive Director.

The share options have an exercise price of 0.09 pence, being the mid-market closing price as of 17 July 2018.

The share options vest on the third anniversary of the date of grant. The exercise period is between the third and tenth anniversary of the date of grant.

The share options can only be exercised if the share price trades at a 30% premium to the exercise price in the five consecutive business days prior to exercise.  The terms of the plan, pursuant to which the share options are being granted, are consistent with industry practice, including the AIM Rules for Companies and the Market Abuse Regulation.

The share options granted represent approximately 3.1 per cent. of the issued share capital.

Related Party Transaction

The grant of the options is a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.

Graham Bull and Raymond Godson, being the independent directors, consider, having consulted the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.

PDMR Notification

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Full name of person Dealing	David Bramhill
2.	Reason for notification
(b)	Position/status	Executive Chairman
(c)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
(d)	Name of entity	Union Jack Oil plc
(e)	LEI	2138005VW7IUUUPY5Q88
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	Options over ordinary shares of 0.025 pence each in the Company
(b)	Identification code	GB00B814XC94
(c)	Nature of the transaction	Grant of options over ordinary shares
(d)	Price(s) and volume(s)	Prices(s) Volume(s) 0.09 pence 120,000,000
(e)	Aggregated information: - Aggregated volume - Price	Single transaction as in 4(d) above Prices(s) Volume(s) 0.09 pence 120,000,000
(f)	Date of transaction	18 July 2018
(g)	Place of transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Full name of person Dealing	Joseph O'Farrell
2.	Reason for notification
(a)	Position/status	Executive Director
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
(a)	Name of entity	Union Jack Oil plc
(b)	LEI	2138005VW7IUUUPY5Q88
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
(c)	Description of the financial instrument, type of instrument	Options over ordinary shares of 0.025 pence each in the Company
(d)	Identification code	GB00B814XC94
(e)	Nature of the transaction	Grant of options over ordinary shares
(f)	Price(s) and volume(s)	Prices(s) Volume(s) 0.09 pence 60,000,000
(g)	Aggregated information: - Aggregated volume - Price	Single transaction as in 4(d) above Prices(s) Volume(s) 0.09 pence 60,000,000
(h)	Date of transaction	18 July 2018
(i)	Place of transaction	Outside a trading venue

For further information please contact the following:

Union Jack Oil plc	[phone]
David Bramhill
SP Angel Corporate Finance LLP	[phone]
Nominated Adviser
Lindsay Mair
Richard Hail

 

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