United Oil & Gas PLC
19 August 2026
United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas
19 August 2026
United Oil & Gas plc
("United" or "the Company")
Award of Share Options
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, announces that, the Company on the 18 August 2026 awarded in total 203,814,481 share options under its updated unapproved share option scheme details of which were disclosed in the Remuneration Committee Report in the Company's 2025 Accounts. 97,932,799 share options (representing 2.11% of the Company's current issued share capital) have been awarded to employees and consultants whilst the further 105,881,682 share options (representing 2.28% of the Company's current issued share capital) have been awarded to PDMRs as detailed below:
|
Director/PDMR |
Position |
Number of New Options |
Total Options Held |
|
Brian Larkin |
Chief Executive Officer & Director |
48,248,136 |
210,078,708 |
|
Iman Hill |
Non-Executive Director |
20,000,000 |
21,481,481 |
|
Simon Brett |
Chief Financial Officer (Non-Board) |
37,633,546 |
116,800,213 |
Key Terms of the Awards:
a) Exercise price of £0.0024 per ordinary share, which is a 20% premium to the price of Company's July 2026 fundraising.
b) Vesting period of one year from date of grant.
c) Performance criterion: share options vest only if the Company's share price reaches £0.006 per ordinary share, representing a 250% increase on the share option price and 300% on the July 2026 placing price.
d) The share options will be valid for 10 years from date of issue.
Following this award, the total number of share options in issue is 575,403,278 representing approximately 12.41% of the Company's current issued share capital of 4,636,021,868 ordinary shares.
These awards are designed to align management incentives directly with shareholder value creation, ensuring that any benefit to participants is realised only following a material increase in the Company's share price.
Related Party Transaction:
The award of new share options to Brian Larkin, the Company's Director and CEO, Iman Hill, the Company's Non-Executive Director, and Simon Brett, the Company's Chief Financial Officer (Non-Board), pursuant to the updated unapproved share option scheme, is regarded as a related party transaction under the AIM Rules. Accordingly, David Williams, being the independent director for the purposes of considering the share option award, considers that the terms of the award are fair and reasonable insofar as the Company's shareholders are concerned.
**ENDS**
|
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 |
|
|
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 & Gasis listed on the AIM market of theLondon Stock Exchange. For further information onUnited Oil and Gasplease visitwww.uogplc.com
The below notifications are made in accordance with the requirements of Article 19(3) of the UK Market Abuse Regulation:
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Brian Larkin |
||||
|
2 |
Reason for notification |
|||||
|
a) |
Position / status |
Chief Executive Officer & 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 |
213800WZWERBFYBQ9J17 |
||||
|
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 |
Issuance of share options over New Ordinary Shares of £0.00001 ISIN GB00BYX0MB92 |
||||
|
Nature of the transaction |
Issuance of Share Options |
|||||
|
c) |
Price(s) and volumes(s) |
|
||||
|
d) |
Aggregated information |
n/a |
||||
|
e) |
Date of the transaction |
18 August 2026 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Simon Brett |
||||
|
2 |
Reason for notification |
|||||
|
a) |
Position / status |
Chief Financial Officer (Non-Board) |
||||
|
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 |
213800WZWERBFYBQ9J17 |
||||
|
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 |
Issuance of share options over New Ordinary Shares of £0.00001 ISIN GB00BYX0MB92 |
||||
|
Nature of the transaction |
Issuance of Share Options |
|||||
|
c) |
Price(s) and volumes(s) |
|
||||
|
d) |
Aggregated information |
n/a |
||||
|
e) |
Date of the transaction |
18 August 2026 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Iman Hill |
||||
|
2 |
Reason for notification |
|||||
|
a) |
Position / status |
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 |
213800WZWERBFYBQ9J17 |
||||
|
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 |
Issuance of share options over New Ordinary Shares of £0.00001 ISIN GB00BYX0MB92 |
||||
|
Nature of the transaction |
Issuance of Share Options |
|||||
|
c) |
Price(s) and volumes(s) |
|
||||
|
d) |
Aggregated information |
n/a |
||||
|
e) |
Date of the transaction |
18 August 2026 |
||||
|
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 rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
ENDRNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.