United Oil & Gas PLC Board Appointment (8437F)
March 12 2020 - 3:00AM
UK Regulatory
TIDMUOG
RNS Number : 8437F
United Oil & Gas PLC
12 March 2020
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil
& Gas
12 March 2020
United Oil & Gas PLC
("United" or the "Company")
Board Appointment
United, the AIM listed oil and gas exploration, development and
production company, announces that further to "Rockhopper
Acquisition & Conditional Fundraise" announcement of 9 December
2019 (RNS No: 1232W) and " Completion of Acquisition &
Re-Admission to AIM " announcement of 28 February 2020 (RNS No:
4217E) the Company has today appointed Mr Stewart MacDonald as
Non-Executive Director of the Company.
This appointment is made pursuant to the terms of the
acquisition agreement dated 22 July 2019 between Rockhopper
Exploration Plc ("Rockhopper PLC") and the Company relating to the
acquisition by the Company of Rockhopper Egypt Pty Limited
("Rockhopper") from Rockhopper PLC ("Rockhopper Acquisition
Agreement") which provides that for as long as Rockhopper PLC holds
10 per cent. or more of the entire issued share capital of the
Company it is entitled to appoint a director to the Board of
United.
Mr Stewart MacDonald has 17 years of energy and corporate
finance experience. He was appointed as Chief Financial Officer of
Rockhopper PLC in March 2014 and prior to that Mr MacDonald was a
director of Rothschild's global oil and gas group where he spent 12
years advising clients in the sector on a range of M&A
transactions as well as debt and equity financings.
Graham Martin, United's Chairman, commented:
"I am delighted to welcome Stewart to the Board of United Oil
& Gas. His familiarity with the Abu Sennan asset and experience
in Egypt will prove invaluable to United. We are sure Stewart will
make a very positive contribution to the Board."
AIM disclosures
Mr Stewart MacDonald, aged 39, has held the following
directorships and / or partnerships in the past 5 years:
Current: Past:
Rockhopper Exploration plc Malta Oil Pty Limited
Rockhopper Mediterranean Limited Melita Exploration Company Limited
Rockhopper Civita Limited Rockhopper Egypt Pty Limited
Rockhopper Italia SpA
Rockhopper Exploration (Hydrocarbons)
Limited
Rockhopper Resources Limited
Rockhopper Exploration (Petrochemicals)
Limited
Rockhopper Exploration (Oil) Limited
(UK)
Rockhopper Exploration (Oil) Limited
(Falkland Islands)
Rockhopper Croatia Limited
Falkland Oil and Gas Limited
Desire Petroleum Limited
South Atlantic Metals Limited
16 Charlwood Place (Freehold) Limited
Mr MacDonald does not currently own any shares, warrants or
options in his own name in United, however Rockhopper PLC of which
he is the Chief Financial Officer owns 114,503,817 ordinary shares
of 1 pence each ("Consideration Shares") in United representing
18.5 per cent. of the Company's issued share capital. These shares
were issued to Rockhopper PLC as part consideration for the
Rockhopper acquisition and in accordance with the Rockhopper
Acquisition Agreement Rockhopper PLC has agreed with the Company
that it will only dispose of any interest in the Consideration
Shares for a period of 12 months beginning on 28 February 2020
("Admission" ) in accordance with an orderly market arrangement
commencing three months from Admission and through the Company's
broker, unless such disposals are with the prior written consent of
the Company.
There is no further information on Mr Stewart MacDonald required
to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the
AIM Rules for Companies.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
ENDS
United Oil & Gas Plc (Company)
Brian Larkin, CEO brian.larkin@uogplc.com
Beaumont Cornish Limited (Nominated
Adviser)
Roland Cornish and Felicity Geidt +44 (0) 20 7628 3396
Optiva Securities Limited (Joint
Broker)
Christian Dennis +44 (0) 20 3137 1902
Cenkos Securities Plc (Joint Broker)
Joe Nally (Corporate Broking) +44 (0) 20 7397 8900
Derrick Lee and Pete Lynch +44 (0) 131 220 6939
Murray (PR Advisor) +353 (0) 87 6909735
Joe Heron jheron@murrayconsultants.ie
St Brides Partners (Financial PR/IR)
Frank Buhagiar and Priit Piip +44 (0) 207 236 1177
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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