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United Oil & Gas PLC - Issue of Share Options

RNS Number : 2944O
United Oil & Gas PLC
29 May 2020
 

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

United Oil & Gas Plc

 ('United' or 'the Company') 

Issue of Share Options

29 May 2020

 

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, David Quirke:

Director / PDMR

Position

Options Awarded

Total Options Held

David Quirke

Chief Financial Officer

3,666,667

3,666,667

 

The Share Options relate to a contractual award on commencement of employment,  but the issuance of the options has been delayed due to closed periods primarily  relating to the financial results of the Company and the suspension of trading in the Company's shares during the second half of 2019, as a result of the Rockhopper Egypt acquisition. The Share Options are awarded with the following terms and conditions:

(a) an exercise price of 3 pence;

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

(c) an expiry date of ten years from the date of award.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (MAR).

**ENDS**

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

David Quirke

 

2

Reason for notification

a)

Position / status

Chief Financial Officer

 

b)

Initial notification

/Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

United Oil & Gas plc

 

b)

LEI

213800WZWERBFY

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 the financial instrument, type of instrument

 

 

Identification code

Options over ordinary shares of 1 pence each in United Oil & Gas plc with vesting for three years from date of grant, and expiry ten years from date of vesting

 

 

ISIN GB00BYX0MB92


Nature of the transaction

Award of options pursuant to contract of employment

 

c)

Price(s) and volumes(s)

 

Price(s)

Volumes(s)

Exercise price of 3 pence

 

3,666,667

d)

Aggregated information

n/a

e)

Date of the transaction

29 May 2020

f)

Place of the transaction

Outside a trading venue

 

 

 For more information please visit the Company's website at www.uogplc.com or contact: 

 

United Oil & Gas Plc (Company)


Brian Larkin, CEO

[email protected]

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)

Derrick Lee and Pete Lynch

 +44 (0) 20 7397 8900

+44 (0) 131 220 6939

Murray (PR Advisor)

+353 (0) 87 6909735

Joe Heron

[email protected]



St Brides Partners (Financial PR/IR)


Frank Buhagiar 

+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 [email protected] or visit www.rns.com.
 
END
 
 
DSHSEDEFAESSELI

Quick facts: United Oil & Gas PLC

Price: 2.8

Market: AIM
Market Cap: £17.5 m
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