United Oil & Gas PLC Proposed Admission to AIM (6994O)
January 31 2019 - 6:30AM
UK Regulatory
TIDMUOG
RNS Number : 6994O
United Oil & Gas PLC
31 January 2019
United Oil & Gas PLC / Index: LSE / Epic: UOG / Sector: Oil
& Gas
31 January 2019
United Oil & Gas PLC ("United" or the "Company")
Proposed Admission to AIM
and
Cancellation from the Official List
United Oil & Gas Plc, the London Stock Exchange listed oil
and gas exploration and development company, announces that the
Board proposes to apply for the Company's Ordinary Shares of 1p
each ('Ordinary Shares') to be admitted to trading on the AIM
market of the London Stock Exchange ('Admission'). In tandem with
this, the Company proposes to cancel the Company's Ordinary Shares
from the standard segment of the Official List and from trading on
the London Stock Exchange's Main Market for listed securities
('Cancellation'). The Board believes that the move to AIM is in the
best interests of the Company and its shareholders as, in the
opinion of the Directors, AIM represents a better fit for fast
growing companies of United's size and is expected to lead to
significant cost and administrative savings for the Company.
Details of Cancellation and Admission
Given the Company is listed on the standard segment of the
Official List, Shareholder approval is not required to effect
Cancellation. Accordingly, the Company will apply to cancel the
listing of the Ordinary Shares on the Official List and their
admission to trading on the London Stock Exchange's Main Market for
listed securities, and will simultaneously apply to the London
Stock Exchange for the admission of the Ordinary Shares to trading
on AIM. The AIM Admission Document, when finalised, will be
published and it is anticipated that the last day of dealings of
the Ordinary Shares on the Main Market will be 27 February 2019 and
the effective date of the Move to AIM will be 28 February 2019,
being not less than 20 business days from the date of this
announcement.
Following Cancellation and Admission, Ordinary Shares that are
held in uncertificated form will continue to be held and dealt
through CREST. Share certificates representing those Ordinary
Shares held in certificated form will continue to be valid and no
new Ordinary Share certificates will be issued.
Beaumont Cornish is acting as Financial Adviser to the Company
in connection with the Admission to AIM and will act as Nominated
Adviser to the Company on Admission becoming effective. Optiva
Securities will continue to act as the Company's broker.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For more information please visit the Company's website at
www.uogplc.com or contact:
United Oil & Gas Plc (Company)
Brian Larkin brian.larkin@uogplc.com
Beaumont Cornish Limited (Financial
Adviser and Nominated Adviser
on Admission)
Roland Cornish and Felicity Geidt +44 (0) 20 7628 3396
Optiva Securities Limited (Broker)
Christian Dennis +44 (0) 20 3137 1902
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
Notes to Editors
United Oil & Gas plc (UOG) is listed on the main market of
the London Stock Exchange. United was established to explore,
appraise and develop low risk assets in Europe and to develop
higher risk, higher impact exploration projects in the Caribbean,
Latin America and Africa.
The following table outlines the Company's licence
interests:
Country Licence Operator United Interest
Podere Gallina Po Valley Energy
Italy Licence Limited 20%
------------------- -------------------- ----------------
Waddock Cross Egdon Resources UK
United Kingdom Field Limited 26.25%
------------------- -------------------- ----------------
Egdon Resources UK
United Kingdom PL090 Exploration Limited 18.95%
------------------- -------------------- ----------------
Corallian Energy
United Kingdom P1918 Limited 10%
------------------- -------------------- ----------------
Corallian Energy
United Kingdom PEDL 330 Limited 10%
------------------- -------------------- ----------------
Corallian Energy
United Kingdom PEDL 345 Limited 10%
------------------- -------------------- ----------------
United Oil & Gas
United Kingdom P2366 Plc 95%
------------------- -------------------- ----------------
Jamaica Walton-Morant Tullow Jamaica Ltd 20%
------------------- -------------------- ----------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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