Member Info for wizard125

The commitment was made in RNS by all 4 directors in a RNS dated 28 May 2021 which is below.

https://www.lse.co.uk/rns/UKOG/defined-director-share-purchase-programme-cu8hucfwhftj89a.html

To the best of my knowledge any directors share purchace is notifiable by RNS & as it is part of a director share purchase scheme on a monthly basis from salary would be notifiable by the company if it happened.

Headinthesand

While I want UKOG to be successful in reality it will only be successful long term if those running it are persieved to have the interests of the company as there best interest.

The current situation & the long term lack of investment by the directors does not imo show there commitment & belief in the company or what they are expecting other investors to invest in.

Ocelot

One further consideration is if the BOD have failed in there duty of care for shareholders by not meeting there RNS commitments from its board meeting?

Ocelot

While I understand & support your views there is a bigger picture at play here.

The ethics of the BOD in purchasing shares as committed to on 28 May 2021 which would have started a alignment process showing there commitment to the company & it's shareholders, not just themselves has not taken place.

Had that been confirmed by RNS it would of likely raised the share price higher effecting less dilution of the company though the average of share price in the fundraising.

What do you think the market will do next time this BOD want to raise funds?

Any comment Mr chairman or Mr acting Chairman but remember actions speak louder than words & none of mine are untrue?

Ocelot

While I don't disagree & believe in the interests of the company it is impossible for me to see or allow to let go the breach of ethics which is currently taking place at this moment.

UKOG and it's director policiy of standing Infront of the company & it's shareholders leading the way with it's new direction which it has established in the RNS of 28 May 2021 is in tatters without a RNS of showing that the directors have upheld that value.

Steve Sanderson received a bonus in November of 2019 which at the time of the RNS on 28 May 2021 would have bought 11% of UKOG unfortunately UKOG has not confirmed that it has upheld it's policy of 28 May 2021 in RNS with the directors buying shares through the directors share purchase scheme.

UKOG United we stand or divided we fall!

Ninetails

While I didn't want to see the disruption of a change of the BOD that Rodders was aiming to bring about & was pleased that dispite the difficulties of the last 20 months there was strong management that was credible.

Unfortunately those principles have just gone up in smoke especially with the fact that the BOD have not led the way where they are forcing existing shareholders & creating dilution where they are refusing to go.

They do not seem to be prepared to lead & set an example of the way for with there support.

This in my opinion now highlights a need for change at the highest levels in my opinion for the benefit of the shareholders and the employees alike.

Lucky-strike

I understand why you are choosing to ignor the points that I have made as someone looking to trade out for 0.50p.

What you ignor is the credibility, Independence & integraty of the company and its directors who are employed to run & maintain the companies name & interests for & on behalf of the shareholders.

That is why this is such a significant point as the company already has to provide a 22% discount for the placing. Had the directors bought there share options on Friday & RNS'ed it the like effect would have been a higher share price & less dilution.

Any comment Mr Chairman or Mr acting Chairman?

Any comment Mr UKOG Chairman or acting chairman as you say you watch these chatboards?

https://www.lse.co.uk/rns/UKOG/defined-director-share-purchase-programme-cu8hucfwhftj89a.html

Headinthesand

Thanks for the info but in these circumstances the company already knows & would be the notifier as the directors agreement was to 5 - 10% of salary monthly starting Friday 2 July 2021 until June 2022 as per RNS of May 21.

Ibug

The implication of the lack of RNS for the directors share purchaces as it is notifiable to the market is that no director has bought any shares under the scheme as I said yesterday.

I did email the company yesterday recieving no response & no RNS has been issued.

I further asked if the directors would be taking up there open offer shares with no response.

Other AIM companies in the scheme RNS automatically.

Subsequently I now believe that the directors are working in there own interests & not that of the company or it's shareholders.

OIL (BRENT)Commodity
77.71+0.61+0.79%

stockraiser

From memory Rodders paid just over 1p per share & apart from whatever his holding was at the time he invested about a further £100,000.00 of his own funds.

https://www.sanderson-out.org/

nomlungu

The closed period ended with the publication of the interim results on 30 June 2021 with the RNS posted on LSE at 11.53am.

ibug

Had it happened & been RNS' ed on Friday as committed to the share price may have been a higher average for the placing which seem to of been finalized over the weekend.

nitrokev

For me the placing was expected but I think that we have not had a RNS confirming the directors commitment to buy shares through the director share purchase scheme of between 5 & 10 % of salaries which was in RSN to commence 2 July 2021 for 12 months until June 2022.

This comitment seems to have been broken by all board members.

I think that the summer months are going to be very interesting & should the Turkish drill not be all it has be made out to be Rodders Jonees will have more than 10% of shareholders votes to oust the board of directors even with the new shares created by one or two placings

If this Board of directors are so corrupt as not to meet there commitments to the company & its shareholders that employ them I'm afraid that it will be time to go.

One further point is that the finance raised for Turkey is over the £5 million maximum cut off point where AME would fund the rest by about £360,000 will this be rectified as per contract. eg. £2.2 million initial /£2.06 net capital commitment = £1.1 seismic costs = £5.360,000?

Cwebb07

No the rules on open & closed periods for directors share purchases for interim results is no purchaces allowed within 30 days & long for full year figures.

The commitment was made on 28 May 2021 & purchases were sanctioned for 2 July 2021.

Any breach of this in light of the placing not in good faith by the directors of the company.

I have emailed them requesting a RNS on the directors share purchases & advice on if they will take part in the open offer.

Ibug

This was the directors commitment.

Upon commitment to the DDSPP, which is expected to occur in the open period following the publication of UKOG's interim results, due on or before June 30th, 2021, the director will purchase shares from the market on the first Friday of each month for a period of 12 months. Consequently, the first DDSPP purchase is expected to occur on Friday July 2nd, 2021 and the final purchase on Friday June 3rd, 2022.

The question is if not why not?