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8 Jul 2025 08:00
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas
8th July 2025
United Oil & Gas plc
("United" or "the Company")
Exercise of Warrants
United Oil & Gas Plc (AIM: "UOG"), the oil and gas company with a high impact exploration asset in Jamaica and a development asset in the UK is pleased to announce the exercise of a total of 5,000,000 warrants at an exercise price of £0.0015 per share, raising £7,500 in proceeds for the Company.
The warrants were issued as part of the fundraising in December 2024 and were approved at the General meeting on 8 January 2025. As a result, 5,000,000 new Ordinary Shares of £0.00001 each (the "New Ordinary Shares") will be issued to the relevant warrant holders.
Brian Larkin, CEO of United Oil & Gas, commented:
"We are pleased to have received further support from warrant holders, which strengthens our near-term funding position. Our focus remains on progressing the farmout of the Jamaican licence and delivering value for our shareholders."
Total Voting Rights and Admission
Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected on or around 11 July 2025. At Admission, the Total Voting Rights ("TVR") will be 2,068,877,779. The above figure may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
The New Ordinary Shares will be issued and credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after the admission of those Ordinary Shares and will otherwise rank on Admission pari passu in all respects with each other and with the existing Ordinary Shares in the Company.
**ENDS**
Enquiries | ||
United Oil & Gas Plc (Company) | ||
Brian Larkin, CEO | brian.larkin@uogplc.com | |
Beaumont Cornish Limited (Nominated Adviser) | ||
Roland Cornish | Felicity Geidt | Asia Szusciak | +44 (0) 20 7628 3396 | |
Tennyson Securities (Joint Broker) | ||
Peter Krens | +44 (0) 20 7186 9030 | |
Optiva Securities Limited (Joint Broker) | ||
Christian Dennis | +44 (0) 20 3137 1902
| |
Shard Capital Limited (Joint Broker) Damon Heath | Isabella Pierre | +44 (0) 207 186 9900 | |
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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