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United Oil & Gas PLC - Issue of Options and Director/PDMR Notification

RNS Number : 1577Q
United Oil & Gas PLC
17 June 2020
 

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

United Oil & Gas Plc

 ('United' or 'the Company') 

Issue of Options

Notification of Transactions of Directors/PDMRs

 

17 June 2020

United Oil & Gas Plc, the AIM traded oil and gas exploration, development and production company, announces the award of options (the "Options") over a total of 14,767,500 new ordinary shares in the capital of the Company ("Ordinary Shares") to Directors of United on the following terms:

 

(a)  an exercise price of 4 pence;

(b)  date of grant: 17 June 2020;

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

(d)  expiry date of 16 June 2030.

The Options represent, in aggregate, approximately 2.39 per cent. of the existing issued share capital of the Company. Following the issue, the Company has a total of 37,612,626 options outstanding, representing approximately 6.07 per cent. of the existing issued share capital of the Company. 

These are the first stock options granted to most Directors since 2018. Granting these Options will bring the Executive Directors closer to their peer group in terms of remuneration, in the most cost-effective way possible for the business.  

Following the award of these Options, the Directors hold the following Options:

Director

 

 

 

 

Position

Options Awarded

 Existing Options

Total Options Held

Total Options as Percentage of Existing Issued Share Capital

Brian Larkin

CEO

             4,817,500

             4,235,294

                9,052,794

1.46%

Jonathan Leather

COO

             4,100,000

             4,058,824

                8,158,824

1.32%

David Quirke

CFO

             4,100,000

             3,666,667

                7,766,667

1.25%

Graham Martin

Chairman

             1,000,000

             1,176,471

                2,176,471

0.35%

Alberto Cataruzza

NED

                 375,000

                 352,941

                    727,941

0.12%

Stewart MacDonald

NED

                 375,000

                           -  

                    375,000

0.06%

 

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

**ENDS**

 

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

 

 

 

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

 

 

1

Brian Larkin

2

Jonathan Leather

3

David Quirke

4

Graham Martin

5

Alberto Cataruzza

6

Stewart MacDonald

 

2

Reason for notification

a)

Position / status

 

 

1

Chief Executive Officer

2

Chief Operating Officer

3

Chief Financial Officer

4

Chairman

5

Non-Executive Director

6

Non-Executive Director

 

 

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 vesting three years from date of grant with expiry date of 16 June 2030

 

 

ISIN GB00BYX0MB92

 

Nature of the transaction

Award of options pursuant to contract of employment

 

c)

Price(s) and volumes(s)

 

 

Price(s)

Volumes(s)

1

Exercise price of 4 pence

4,817,500

2

Exercise price of 4 pence

4,100,000

3

Exercise price of 4 pence

4,100,000

4

Exercise price of 4 pence

1,000,000

5

Exercise price of 4 pence

375,000

6

Exercise price of 4 pence

375,000

 

d)

Aggregated information

n/a

e)

Date of the transaction

17 June 2020

f)

Place of the transaction

Outside a trading venue

 


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
 
 
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Quick facts: United Oil & Gas PLC

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Market: AIM
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