Notice of GM and Posting of Circular

United Oil & Gas PLC

13 December 2024

 

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

13 December 2024

United Oil & Gas plc

("United" or "the Company")

Posting of Circular and Notice of General Meeting

Further to the "Launch of Placing" and "Results of Fundraising and TVR" announcements published on 11 and 12 of December 2024 respectively (the "Placing Announcements") regarding the conditional fundraising of £700,000 ("Conditional Fundraising") the Company confirms that it has yesterday published a shareholder circular (the "Circular") encompassing a notice of general meeting (the "General Meeting"), which is being convened for the purpose of proposing a vote in relation to certain resolutions, including those in connection with the Conditional Fundraising, Fundraising Warrants and Broker Warrants. The detailed reasons for and background to the resolutions are set out in the Circular, which has been posted to Shareholders today and will be uploaded on the Company's website https://www.uogplc.com/.

Capitalised terms used in this announcement have the meaning given in the Placing Announcements and the Circular unless the context requires otherwise or as otherwise defined herein.

The General Meeting of United is to be held at the offices of Laytons LLP, First Floor Yarnwicke, 119-121 Cannon Street, London EC4N 5AT on 8 January 2025 at 11.00 a.m.

The Form of Proxy for use in connection with the General Meeting should be completed and returned in accordance with the instructions thereon so as to be received by the Company's registrars, Share Registrars Limited, 3 The Millennium Centre, Crosby Way, Farnham, Surrey GU9 7XX  by no later than 11.00 a.m. on 6 January 2025.

Completion and return of a Form of Proxy will not preclude Shareholders from attending and voting in person at the General Meeting should they so wish.

Recommendation

The Directors consider the passing of the resolutions contained in the Circular to be in the best interests of the Company and its Shareholders as a whole. The additional working capital raised pursuant to the Conditional Fundraising will be used to progress the Jamaican farmout, fund the associated administration costs and settle historical creditors. Failure to secure the funds could hamper the Company's business and impact on its existing licences. Accordingly, the Directors unanimously recommend that all Shareholders vote in favour of the resolutions, as they intend to do, or procure to be done, in respect of their own beneficial shareholdings, in aggregate, 39,098,219 Ordinary Shares, representing approximately 3.38 per cent. of the existing issued Ordinary Share capital.

Indicative Timetable

Publication of the Circular	12 December 2024
Latest time and date for receipt of forms of proxy, CREST Proxy Instruction or electronic proxy appointment for use at the General Meeting	11:00 a.m. on 6 January 2025
General Meeting	11:00 a.m. on 8 January 2025
Expected date of Admission of the Second Tranche Placing Shares to trading on AIM	08:00 a.m. 9 January 2025

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Enquiries
United Oil & Gas Plc (Company)
Brian Larkin, CEO		[e-mail]
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish | Felicity Geidt | Asia Szusciak		[phone]
Tennyson Securities (Joint Broker)
Peter Krens		[phone]
Optiva Securities Limited (Joint Broker)
Christian Dennis		[phone]
Shard Capital Limited (Joint Broker) Damon Heath | Isabella Pierre		[phone]

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

Notes to Editors

United Oil & Gas is an oil and gas company with a development asset in the 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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