Last checked at 2 Aug 2018 07:00
United Oil & Gas Plc / Index: LSE / Epic: UOG / Sector: Oil & Gas
2 August 2018
United Oil & Gas Plc ('United' or 'the Company')
Issue of Share Options
The Board of Directors of United Oil & Gas Plc, the London Stock Exchange listed oil and gas exploration and development company, has awarded the following options (the "Share Options") to Directors and Management.
Director/PDMR | Existing Number of Shares | Existing Number of Warrants | New Share Options | % of Issued Share Capital |
Brian Larkin | 9,755,691 | 9,755,690 | 4,235,294 | 8.15 |
Jonathan Leather | 4,877,810 | 4,877,810 | 4,058,823 | 4.75 |
Graham Martin | 1,411,764 | - | 1,176,471 | 0.88 |
Alberto Cataruzza
| - | - | 14,388 | 0.004 |
Rodney Mooney | - | - | 1,294,117 | 0.44 |
The Share Options have the following terms and conditions:
(a) an exercise price of 4.25 pence;
(b) a vesting period of three years from the date of granting; and
(c) an expiry date of ten years from the date of vesting.
Since United's establishment in 2015 and the IPO in July 2017 at a price of 2.5p, the team has made extensive progress in building a portfolio of low-risk European development, appraisal and exploration assets, as well as implementing a parallel high-impact growth strategy in the Caribbean, South America and Africa. The Company now has interest in seven projects, six in Europe and one in Jamaica and a pipeline of additional projects that the Board believes have the ability to further enhance shareholder value. The Share Options have been granted following the annual review and in recognition of the contribution the Directors and Mr Mooney have made to the aforementioned progress, and to continue to incentivise them in delivering United's expansive and rapid development strategy.
**ENDS**
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For more information please visit the Company's website at www.uogplc.com or contact:
United Oil & Gas Plc (Company) | |
Brian Larkin | brian.larkin@unitedoilandgas.eu |
Optiva Securities Limited (Broker) | |
Christian Dennis | +44 (0) 20 3137 1902 |
Beaumont Cornish Limited (Financial Adviser) | |
Roland Cornish and Felicity Geidt | +44 (0) 20 7628 3396 |
Murray (PR Advisor) | +353 (0) 87 6909735 |
Joe Heron | jheron@murrayconsultants.ie |
St Brides Partners (Financial PR/IR) | |
Frank Buhagiar and Juliet Earl | +44 (0) 207 236 1177 |
The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation,
Brian Larkin
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Brian Larkin | ||||
2 | Reason for notification | |||||
a) | Position / status | Director
| ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | United Oil & Gas plc
| ||||
b) | LEI | 213800WZWERBFYBQ9J17 | ||||
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
Identification code | Ordinary shares of £0.01 each in United Oil & Gas plc
ISIN GB00BYX0MB92
| ||||
| Nature of the transaction
| Issue of options over 4,235,294 ordinary shares
| ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 25 June 2018 | ||||
f) | Place of the transaction | Off market | ||||
Jonathan Leather
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jonathan Leather | ||||
2 | Reason for notification | |||||
a) | Position / status | Director
| ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | United Oil & Gas plc | ||||
b) | LEI | 213800WZWERBFYBQ9J17 | ||||
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
Identification code |
Ordinary shares of £0.01 each in United Oil & Gas plc
ISIN GB00BYX0MB92
| ||||
| Nature of the transaction
| Issue of options over 4,058,823 ordinary shares | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 25 June 2018 | ||||
f) | Place of the transaction | Off market | ||||
Graham Martin
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Graham Martin | ||||
2 | Reason for notification | |||||
a) | Position / status | Director
| ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | United Oil & Gas plc | ||||
b) | LEI | 213800WZWERBFYBQ9J17 | ||||
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
Identification code |
Ordinary shares of £0.01 each in United Oil & Gas plc
ISIN GB00BYX0MB92
| ||||
| Nature of the transaction
| Issue of options over 1,323,529 ordinary shares | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 25 June 2018 | ||||
f) | Place of the transaction | Off market | ||||
Alberto Cataruzza
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Alberto Cataruzza | ||||
2 | Reason for notification | |||||
a) | Position / status | Director
| ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | United Oil & Gas plc
| ||||
b) | LEI | 213800WZWERBFYBQ9J17 | ||||
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
Identification code | Ordinary shares of £0.01 each in United Oil & Gas plc
ISIN GB00BYX0MB92
| ||||
| Nature of the transaction
| Issue of options over 4,235,294 ordinary shares
| ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 25 June 2018 | ||||
f) | Place of the transaction | Off market | ||||
Rodney Mooney
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Rodney Mooney | ||||
2 | Reason for notification | |||||
a) | Position / status | Director
| ||||
b) | Initial notification /Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | United Oil & Gas plc | ||||
b) | LEI | 213800WZWERBFYBQ9J17 | ||||
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
Identification code |
Ordinary shares of £0.01 each in United Oil & Gas plc
ISIN GB00BYX0MB92
| ||||
| Nature of the transaction
| Issue of options over 1,294,117 ordinary shares | ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information | n/a | ||||
e) | Date of the transaction | 25 June 2018 | ||||
f) | Place of the transaction | Off market | ||||
Notes to Editors
United Oil & Gas Plc is an independent oil & gas company focused on exposing shareholders to multiple re-rating opportunities via the acquisition and development of assets with a clear line of sight to near-term value unlocking activity. Established in 2015 by an entrepreneurial management team which had worked together at leading independent Tullow Oil, significant progress has been made since listing. Leveraging the team's strong technical discipline and established links to the industry, a portfolio of low-risk European development, appraisal and exploration assets has been put in place which underpins a parallel high-impact growth strategy in the Caribbean, South America and Africa. The goal is to create a decent-sized oil company, with cash-flow from European portfolio production to cover G&A and provide free cash-flow to expose shareholders to potentially transformational opportunities.
The following table outlines the company's licences:
Country | Licence | Operator | United Interest |
Italy | Podere Gallina Licence | Po Valley Energy Limited | 20.00% |
United Kingdom | Waddock Cross Field | Egdon Resources UK Limited | 26.25% |
United Kingdom | PL090 Exploration | Egdon Resources UK Limited | 18.95% |
United Kingdom | P1918 | Corallian Energy Limited | 10.00% |
United Kingdom | PEDL 330 | Corallian Energy Limited | 10.00% |
United Kingdom | PEDL 345 | Corallian Energy Limited | 10.00% |
Jamaica | Walton-Morant | Tullow Jamaica Ltd | 20.00% |