United Oil & Gas PLC Placing to raise £1.25 million (8520Z)
December 20 2017 - 2:05AM
UK Regulatory
TIDMUOG
RNS Number : 8520Z
United Oil & Gas PLC
20 December 2017
For immediate release 20(th) December 2017
United Oil & Gas Plc
("UOG", "United" or the "Company")
Placing to raise GBP1.25 million
United Oil and Gas Plc, the oil and gas exploration company, is
pleased to announce a placing of 31,250,000 new ordinary shares of
GBP0.01 each in the capital of the Company (the "Placing Shares")
at a price of GBP0.04 per Placing Share (the "Placing Price"). The
placing will raise, in aggregate, GBP1.25million (before expenses)
(the "Placing").
Applications are being made to the UK Listing Authority and the
London Stock Exchange for the Placing Shares, representing 13.46%of
the Company's enlarged issued share capital, to be admitted to the
Official List and to trading on the London Stock Exchange's main
market for listed securities (the "Admission"). It is expected that
Admission will become effective on or around 27December 2017.
Following the issue of the Placing Shares, which will rank pari
passu with the existing ordinary shares in issue, the total number
of ordinary shares in issue with voting rights in the Company is
232,185,001. There are no shares held in treasury.
The above figure of 232,185,001 may therefore be used by
shareholders as the denominator for the calculation by which they
may determine if they are required to notify their interest in, or
change to their interest in, the Company under the FCA's Disclosure
Guidance and Transparency Rules.
Brian Larkin, CEO commented:
"We are extremely pleased to have completed this placing before
the year end. The proceeds of this placing will be used to advance
potential near-term acquisitions and farm-in opportunities and also
ensures that our company has a solid cash platform to move our
company forward in 2018.
This year has seen our company make significant developments; we
added two more exciting licences to our portfolio, listed on the
London Stock Exchange, completed two placings, enjoyed success in
our first drilling campaign and delivered significant value for
shareholders. We intend on continuing this momentum through 2018
and we look forward to updating shareholders."
The Market Abuse Regulation ("MAR") became effective from 3 July
2016. Market Soundings, as defined in MAR, were taken in respect of
the proposed Placing with the result that certain persons became
aware of inside information, as permitted by MAR. That inside
information is set out in this announcement and has been disclosed
as soon as possible in accordance with paragraph 7 of article 17 of
MAR. Therefore, those persons that received inside information in a
Market Sounding are no longer in possession of inside information
relating to the Company and its securities.
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)
===================================== ================================
+44 (0) 20 3137
Christian Dennis 1902
===================================== ================================
Beaumont Cornish Limited (Financial
Adviser)
===================================== ================================
Roland Cornish and Felicity +44 (0) 20 7628
Geidt 3396
===================================== ================================
Murray (PR Advisor) +353 (0) 87 6909735
===================================== ================================
Joe Heron jheron@murrayconsultants.ie
===================================== ================================
This information is provided by RNS
The company news service from the London Stock Exchange
END
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