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19 Jul 2019 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
19 July 2019
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 the following grants of options:
·; 120,000,000 Share Options to David Bramhill, Executive Chairman;
·; 30,000,000 Share Options to Raymond Godson, Non-Executive Director;
·; 80,000,000 Share Options to Graham Bull, Non-Executive Director, and
·; 30,000,000 Share Options to Matthew Small, Company Secretary.
The Share Options have an exercise price of 0.265p, being the mid-market closing price on 18 July 2019.
The vesting date is 19 July 2022 and the exercise period expires on 19 July 2029. The Share Options can only be exercised if the share price is at a 30% premium to the exercise price.
Following the grants of the Share Options, the Directors' interests in the Company are as follows:
Director | Shareholding | % | Share options | Exercise price | Vesting period |
D Bramhill
| 63,929,285 | 0.5 | 120,000,000 120,000,000 | 0.09p 0.265p
| 18.7.21-19.7.28 19.7.22-18.7.29 |
J O'Farrell
| 242,399,473 | 2.0 | 60,000,000 | 0.09p | 18.7.21-18.7.28 |
R Godson
| 48,411,764 | 0.4 | 30,000,000 30,000,000
| 0.11p 0.265p | 7.11.21-7.11.28 19.7.22-18.7.29 |
G Bull
| 4,000,000 | 0.03 | 30,000,000 80,000,000 | 0.11p 0.265p | 7.11.21-7.11.28 19.7.22-18.7.29
|
The number of Share Options being granted is 260,000,000, which is 2.1% of the number of shares currently in issue.
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.
Joseph O'Farrell, being an independent director, considers, 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 | Raymond George Godson | ||||
2. | Reason for notification | |||||
(a) | Position/status | Non-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 | |||||
(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 and volume |
| ||||
(e) | Aggregated information: - Aggregated volume - Price | Single transaction as in 4(d) above
| ||||
(f) | Date of transaction | 19 July 2019
| ||||
(g) | Place of transaction | Outside a trading venue | ||||
PDMR Notification
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
(a) | Full name of person Dealing | Graham Bull | ||||
2. | Reason for notification | |||||
(a) | Position/status | Non-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 | |||||
(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 and volume |
| ||||
(e) | Aggregated information: - Aggregated volume - Price | Single transaction as in 4(d) above
| ||||
(f) | Date of transaction | 19 July 2019
| ||||
(g) | Place of transaction | Outside a trading venue | ||||
PDMR Notification
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
(a) | Full name of person Dealing | Matthew Small | ||||
2. | Reason for notification | |||||
(a) | Position/status | Company Secretary | ||||
(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 | |||||
(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 and volume |
| ||||
(e) | Aggregated information: - Aggregated volume - Price | Single transaction as in 4(d) above
| ||||
(f) | Date of transaction | 19 July 2019
| ||||
(g) | Place of transaction | Outside a trading venue | ||||
PDMR Notification
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
(a) | Full name of person Dealing | David Roger Bramhill | ||||
2. | Reason for notification | |||||
(a) | Position/status | Executive Chairman | ||||
(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 | |||||
(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 and volume |
| ||||
(e) | Aggregated information: - Aggregated volume - Price | Single transaction as in 4(d) above
| ||||
(f) | Date of transaction | 19 July 2019
| ||||
(g) | 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 | |
SP Angel Corporate Finance LLP | +44 (0)20 3470 0470 |
Nominated Adviser | |
Lindsay Mair | |
Richard Hail | |
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