Last checked at 23 Jul 2014 07:00
Union Jack Oil plc
(AIM: UJO)
Exercise of Warrants
Union Jack Oil plc (the "Company"), an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector announces that it has received notice of the exercise of 30,900,000 warrants thereby generating gross cash proceeds of £83,100 for the Company. Further detail on the warrant exercise is below:
Exercise price (pence) | Expiry date | Number of warrants exercised |
0.25 | 30 July 2018 | 19,200,000 |
0.30 | 28 February 2015 | 11,700,000 |
Following the exercise of the warrants, the total number of warrants outstanding will be 335,352,549.
Admission and Total Voting Rights
Pursuant to the above exercise, 30,900,000 new ordinary shares of 0.025 pence each in the Company (the "New Ordinary Shares") have been issued and allotted. The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares. Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM and admission is expected to take place on 29 July 2014. Following admission of the Placing Shares, the enlarged issued share capital will amount to 1,711,753,929 ordinary shares of 0.025p each.
The Company does not hold any shares in treasury and the above figure may therefore be used by shareholders as the denominator for the calculation to determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Services Authority's Disclosure and Transparency Rules.
Directors' holdings on following exercise of the warrants
| Prior to the exercise of warrants | Following the exercise of warrants | |
| Number | Percentage of Issued Share Capital | |
David Bramhill1 Executive Chairman | 48,664,580 | 48,664,580 | 2.84 |
Joe O'Farrell2 Executive Director | 107,664,180 | 107,664,180 | 6.29 |
Martin Durham3 Non-Executive Director | 9,200,000 | 9,200,000 | 0.54 |
Raymond Godson Non-Executive Director | 10,000,000 | 10,000,000 | 0.58 |
Notes:
1. David Bramhill is the 100 per cent. beneficial owner of Corby Limited, a company incorporated in England and Wales, that holds 6,200,000 Ordinary Shares in the Company which are included in the above figure. In addition Jayne Bramhill, David Bramhill's wife, holds 800,000 Ordinary Shares in the Company, which are included in the above figure.
2. Joseph O`Farrell is a director and owner of 50 per cent. of the issued share capital of Gilmaul Limited. Gilmaul Limited holds 8,000,000 Ordinary Shares in the Company, which are included in the above figure.
3. Julie Durham, Martin Durham's wife, holds 1,200,000 Ordinary Shares in the Company, which are included in the above figure.
For further information please contact:
Union Jack Oil plc David Bramhill | +44 (0) 77871 60682 |
Shore Capital Nominated Adviser Bidhi Bhoma, Edward Mansfield Corporate Broking Jerry Keen
| +44 (0) 20 7408 4090
|
Northland Capital Joint Broker Gavin Burnell, Alice Lane
| +44 (0) 20 7382 1100
|
Yellow Jersey PR Limited Public Relations Dominic Barretto Kelsey Traynor | +44 (0)7768 537 739 +44 (0)7799 003 220 |