GM Results, PDMR Notification, Board Change & TVR
General Meeting approved fundraising; Chairman Graham Martin stepped down; CEO to act as interim Chair.
- Second Tranche Placing Shares 315,000,000 new ordinary shares
- Total voting rights post-admission 1,856,353,969 ordinary shares
- Graham Martin's stake post-admission 1.3% of enlarged share capital
Select text to share a quote on X · sign in to keep highlights & notes in your UOG notes
General Meeting Results, PDMR Notification, Board Change and Total Voting Rights
United Oil & Gas Plc (AIM: "UOG"), the oil and gas company with a high impact exploration asset in Jamaica and a development asset in the UK is pleased to announce that at the Company's General Meeting ("GM") held earlier today, all resolutions, as set out in the circular dated 12 December 2024, were duly passed.
| Resolution | For | Against | Total | Withheld |
|---|---|---|---|---|
| 1 | 118,410,533 | 29,690,487 | 148,101,020 | 197,581 |
| 2 | 118,410,533 | 29,690,487 | 148,101,020 | 197,581 |
Accordingly, the conditional Fundraising, the results of which were announced on 12 December 2024, will complete on the Second Admission to trading of the Second Tranche Placing and Subscriptions Shares at which time the Placing Warrants will also be granted.
Application has been made to the London Stock Exchange for the Second Tranche Placing and Subscription Shares comprising 315,000,000 new ordinary shares of £0.00001 each, to be admitted to trading on AIM with dealings expected to commence on AIM at 8.00 a.m. on 9 January 2025.
PDMR Dealing
As set out in the announcement published on 12 December 2024 and in the Circular, Graham Marin, the Company's Chairman, participated in the Fundraising and accordingly, as from the Second Admission he will be interested in 24,089,730 ordinary shares representing 1.3 per cent. of the Company's enlarged issued share capital following Second Admission.
Board Change
As announced on 11 December 2024, following conclusion of the Company's GM Graham Martin has stepped down from the Board of United. The Company extends its gratitude to Graham for his valuable contributions and leadership during his tenure. The Company is actively looking for a suitable candidate to fill the Chairman position and will update the market on progress in due course. In the interim, the CEO will fulfil the role of Chair until a suitable candidate is found.
Total Voting Rights ("TVR")
The Company's total issued share capital immediately following Second Admission will be 1,856,353,969 ordinary shares of £0.00001 each carrying the right to one vote. There are no shares currently held in treasury. Accordingly, from the Second Admission the total number of voting rights in the Company will be 1,856,353,969 and this figure may then be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's DTRs.
Unless otherwise defined therein, the capitalised terms in this announcement have the same meaning as in the "Results of the Fundraising and TVR" announcement published on 12 December 2024 and in the Company's Circular dated 12 December 2024.
| a) | Name | Graham Martin |
| 2 | Reason for notification | |
| a) | Position / status | Non-Executive Chairman |
| b) | Initial notification /Amendment | Initial |
| a) | Name | United Oil & Gas plc |
| b) | LEI | |
| a) | Description of the financial instrument, type of instrument Indentification code | New Ordinary Shares of £0.00001 Warrants over Ordinary Shares of £0.00001 ISIN GB00BYX0MB92 |
| Nature of the transaction | Share subscription n under a placing and grant of warrants | |
| c) | Price(s) and volumes(s) | Price(s) Volumes(s) New Ordinary Shares £0.001 10,000,000 Price(s) Volumes(s) Warrants £0.0015 5,000,000 |
| d) | Aggregated information | As per 4. c) above |
| e) | Date of the transaction | 8 January 2025 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.