United Oil & Gas PLC Issue of Share Options, Director/PDMR Shareholding (6115B)

TIDMUOG

RNS Number : 6115B

United Oil & Gas PLC

03 October 2022

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

3 October 2022

United Oil & Gas Plc

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

Issue of share options

Director/PDMR Shareholding

The Board of Directors of United Oil & Gas Plc, the AIM traded oil and gas exploration, development and production company, has awarded the following options (the "Share Options") to Chief Financial Officer, Peter Dunne:

 
 Director / PDMR    Position           Options Awarded   Total Options 
                                                          Held 
=================  =================  ================  ============== 
                    Chief Financial 
 Peter Dunne         Officer           6,862,005         6,862,005 
=================  =================  ================  ==============

The grant of the Share Options to Peter Dunne relate to a contractual award on commencement of employment, but the issuance of the Share Options has been delayed due to closed periods primarily relating to the interim financial results of the Company.

The Share Options are awarded with the following terms and conditions:

(a) an exercise price of 2.47 pence;

(b) a vesting period of three years from the date of granting; and

The total options in issue post the award of Share Options outlined above will be 61,648,984 representing 9.56% of the current issued share capital of 644,803,969.

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).

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                        Peter Dunne 
     --------------------------  --------------------------------------------- 
 2    Reason for notification 
     ------------------------------------------------------------------------- 
 a)   Position / status           Chief Financial Officer 
     --------------------------  --------------------------------------------- 
 b)   Initial notification        Initial 
       /Amendment 
     --------------------------  --------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                        United Oil & Gas plc 
     --------------------------  --------------------------------------------- 
 b)   LEI 
     --------------------------  --------------------------------------------- 
 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              Options over ordinary shares of 1 pence 
       the financial               each in United Oil & Gas plc vesting for 
       instrument, type            three years from date of grant, and expiry 
       of instrument               ten years from date of vesting 
 
 
       Indentification             ISIN GB00BYX0MB92 
       code 
     --------------------------  --------------------------------------------- 
      Nature of the               Award of options pursuant to contract of 
       transaction                 employment 
     --------------------------  --------------------------------------------- 
 c)   Price(s) and volumes(s)       Price(s)          Volumes(s) 
                                     Exercise price 
                                      of 2.47 pence    6,862,005 
                                                      ----------- 
     --------------------------  --------------------------------------------- 
 d)   Aggregated information      n/a 
     --------------------------  --------------------------------------------- 
 e)   Date of the transaction     30 September 2022 
     --------------------------  --------------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  --------------------------------------------- 
 
 
Enquiries 
United Oil & Gas Plc (Company) 
Brian Larkin, CEO                 brian.larkin@uogplc.com 
Sharan Dhami, Head of IR          sharan.dhami@uogplc.com 
 & ESG 
 
Beaumont Cornish Limited 
 (Nominated Adviser) 
Roland Cornish | Felicity 
 Geidt                            +44 (0) 20 7628 3396 
 
  Tennyson Securities (Joint 
  Broker) 
Peter Krens                       +44 (0) 20 7186 9030 
 
  Optiva Securities Limited 
  (Joint Broker) 
Christian Dennis                  +44 (0) 20 3137 1902 
 
Camarco (Financial PR) 
Georgia Edmonds | Emily           +44 (0) 20 3757 4983 uog@camarco.co.uk 
 Hall | Sam Morris

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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END

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