Issue of Options and Director/PDMR Notification
Updated : 07:08
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) |
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Brian Larkin, CEO
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Beaumont Cornish Limited (Nominated Adviser) |
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Roland Cornish and Felicity Geidt
| +44 (0) 20 7628 3396
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Optiva Securities Limited (Joint Broker) |
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Christian Dennis
| +44 (0) 20 3137 1902
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Cenkos Securities Plc (Joint Broker) |
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Joe Nally (Corporate Broking) Derrick Lee and Pete Lynch
| +44 (0) 20 7397 8900 +44 (0) 131 220 6939
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Murray (PR Advisor) | +353 (0) 87 6909735 |
Joe Heron | |
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St Brides Partners (Financial PR/IR) |
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Frank Buhagiar | +44 (0) 207 236 1177 |
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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 |
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2 | Reason for notification | ||||||||||||||||||||||
a) | Position / status |
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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
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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
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c) | Price(s) and volumes(s) |
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d) | Aggregated information | n/a | |||||||||||||||||||||
e) | Date of the transaction | 17 June 2020 | |||||||||||||||||||||
f) | Place of the transaction | Outside a trading venue | |||||||||||||||||||||
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