Exercise of Warrants and Total Voting Rights

RNS Number : 2737U

United Oil & Gas PLC

29 July 2022

 

  United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas 

29 July 2022

United Oil and Gas Plc

("United" "the Group" or the "Company")

Exercise of Warrants and Total Voting Rights

United Oil & Gas Plc (AIM: "UOG"),  announces that it has received two notices of exercise of warrants to subscribe for a total of 11,550,00 new ordinary shares of £0.01 each in the share capital of the Company (the 'Warrant Shares') at a price of £0.0142857 pence per share, pursuant to the warrant instruments granted on 31 July 2017. Accordingly, the Company has issued the Warrant Shares to the warrant holders, conditional on Admission, for an aggregate cash consideration of £165,000.

Application has been made for the Warrant Shares to be admitted to trading on the AIM market of the London Stock Exchange ('Admission'). The Warrant Shares will rank pari passu in all respects with the existing issued ordinary shares of £0.01 pence each in the capital of the Company. Admission is expected to occur on or around the 4^th August 2022.

Total Voting Rights

Following the issue of the Warrant Shares, the total issued share capital of the Company will consist of 656,353,969 ordinary shares of £0.01 pence each carrying the right to one vote. There are no shares currently held in treasury. The total number of voting rights in the Company will therefore be 656,353,969 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

ENDS

This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

Enquiries
United Oil & Gas Plc (Company)
Brian Larkin, CEO		[e-mail]
Sharan Dhami, Head of IR & ESG		[e-mail]
Beaumont Cornish Limited (Nominated Adviser)
Roland Cornish | Felicity Geidt		[phone]
Tennyson Securities (Joint Broker)
Peter Krens		[phone]
Optiva Securities Limited (Joint Broker)
Christian Dennis		[phone]
Camarco (Financial PR)
Georgia Edmonds  |  James Crothers		[phone]  | [e-mail]

Notes to Editors

United Oil & Gas is a high growth oil and gas company with a portfolio of low-risk, cash generative production, development, appraisal and exploration assets across Egypt, 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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