United Oil
& Gas PLC / Index: AIM / Epic: UOG / Sector: Oil &
Gas
27th January
2025
United
Oil & Gas plc
("United"
or "the Company")
Final
Settlement of Legacy Liability and TVR
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 the
Company has agreed to settle an outstanding legacy liability with
Rockhopper Exploration Plc through the issuance of 59,523,810 new
ordinary shares at a price of £0.001 per share. The settlement
price is consistent with the recent placing price earlier this
month.
Application will be made to the London Stock
Exchange for the Settlement Shares comprising 59,523,810 new
ordinary shares of £0.00001 each, to be admitted to trading on AIM
shortly. On completion of the issuance of the shares, the
Total Voting Rights ("TVR") will be 1,915,877,779.
Brian Larkin, United Chief Executive
Officer commented:
"Settling this legacy liability, which we have
provided for in our prior years Accounts, allows us to focus our
efforts on advancing our high-impact exploration opportunity in
Jamaica, where we continue to progress the farmout process. With
this matter now closed, we can drive forward our strategic
priorities and deliver value for shareholders."
**ENDS**
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Enquiries
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United Oil & Gas Plc
(Company)
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Brian Larkin, CEO
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brian.larkin@uogplc.com
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Beaumont Cornish
Limited (Nominated Adviser)
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Roland Cornish | Felicity
Geidt | Asia Szusciak
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+44 (0) 20 7628 3396
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Tennyson Securities (Joint
Broker)
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Peter Krens
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+44 (0) 20 7186 9030
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Optiva Securities
Limited (Joint Broker)
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Christian Dennis
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+44 (0) 20 3137 1902
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Shard Capital Limited (Joint
Broker)
Damon Heath | Isabella
Pierre
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+44 (0) 207 186 9900
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Beaumont
Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont
Cornish's responsibilities as the Company's Nominated Adviser,
including a responsibility to advise and guide the Company on its
responsibilities under the AIM Rules for Companies and AIM Rules
for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.
Notes to Editors
United Oil & Gas is an oil
and gas company with a development asset in the 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
