United Oil & Gas PLC /
Index: AIM / Epic: UOG / Sector: Oil & Gas
13 December 2024
United Oil & Gas
plc
("United" or "the
Company")
Posting of Circular and
Notice of General Meeting
Further to the "Launch of Placing"
and "Results of Fundraising and TVR" announcements published on 11
and 12 of December 2024 respectively (the "Placing Announcements")
regarding the conditional fundraising of £700,000 ("Conditional
Fundraising") the Company confirms that it has yesterday published
a shareholder circular (the "Circular") encompassing a notice of
general meeting (the "General Meeting"), which is being convened
for the purpose of proposing a vote in relation to certain
resolutions, including those in connection with the Conditional
Fundraising, Fundraising Warrants and Broker Warrants. The detailed
reasons for and background to the resolutions are set out in the
Circular, which has been posted to Shareholders today and will be
uploaded on the Company's website https://www.uogplc.com/.
Capitalised terms used in this
announcement have the meaning given in the Placing Announcements
and the Circular unless the context requires otherwise or as
otherwise defined herein.
The General Meeting of United is to
be held at the offices of Laytons LLP, First Floor Yarnwicke,
119-121 Cannon Street, London EC4N 5AT on 8 January 2025 at 11.00
a.m.
The Form of Proxy for use in
connection with the General Meeting should be completed and
returned in accordance with the instructions thereon so as to be
received by the Company's registrars, Share Registrars Limited, 3
The Millennium Centre, Crosby Way, Farnham, Surrey GU9 7XX by
no later than 11.00 a.m. on 6 January 2025.
Completion and return of a Form of
Proxy will not preclude Shareholders from attending and voting in
person at the General Meeting should they so wish.
Recommendation
The Directors consider the passing
of the resolutions contained in the Circular to be in the best
interests of the Company and its Shareholders as a whole. The
additional working capital raised pursuant to the Conditional
Fundraising will be used to progress the Jamaican farmout, fund the
associated administration costs and settle historical creditors.
Failure to secure the funds could hamper the Company's business and
impact on its existing licences. Accordingly, the Directors
unanimously recommend that all Shareholders vote in favour of the
resolutions, as they intend to do, or procure to be done, in
respect of their own beneficial shareholdings, in aggregate,
39,098,219 Ordinary Shares, representing approximately 3.38 per
cent. of the existing issued Ordinary Share capital.
Indicative Timetable
|
Publication of the
Circular
|
12
December 2024
|
|
Latest time and date for receipt of
forms of proxy, CREST Proxy Instruction or electronic proxy
appointment for use at the General Meeting
|
11:00 a.m.
on 6 January 2025
|
|
General Meeting
|
11:00 a.m. on 8 January 2025
|
|
Expected date of Admission of the
Second Tranche Placing Shares to trading on AIM
|
08:00 a.m.
9 January 2025
|
END
|
Enquiries
|
|
|
|
United Oil & Gas
Plc (Company)
|
|
|
|
Brian Larkin, CEO
|
|
brian.larkin@uogplc.com
|
|
|
|
|
|
|
|
|
|
Beaumont Cornish
Limited (Nominated Adviser)
|
|
|
|
Roland Cornish | Felicity
Geidt | Asia Szusciak
|
|
+44 (0) 20 7628 3396
|
|
Tennyson Securities (Joint
Broker)
|
|
|
|
Peter Krens
|
|
+44 (0) 20 7186 9030
|
|
Optiva Securities
Limited (Joint Broker)
|
|
|
|
Christian Dennis
|
|
+44 (0) 20 3137 1902
|
|
|
|
|
|
Shard Capital Limited (Joint
Broker)
Damon Heath | Isabella
Pierre
|
|
+44 (0) 207 186 9900
|
|
|
|
|
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
