Last checked at 18 Jul 2018 07:00
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) |
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(e) | Aggregated information: - Aggregated volume - Price | Single transaction as in 4(d) above
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(f) | Date of transaction | 18 July 2018
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(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) |
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(g) | Aggregated information: - Aggregated volume - Price | Single transaction as in 4(d) above
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(h) | Date of transaction | 18 July 2018
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(i) | Place of transaction | Outside a trading venue | ||||
For further information please contact the following:
Union Jack Oil plc | +44 (0)7787 160 682 |
David Bramhill |
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SP Angel Corporate Finance LLP | +44 (0)20 3470 0470 |
Nominated Adviser |
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Lindsay Mair |
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Richard Hail |
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