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Union Jack Oil PLC

Grant of Options

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RNS Number : 0438G
Union Jack Oil PLC
19 July 2019
 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement

 

 

 

19 July 2019

 

Union Jack Oil plc

("Union Jack" or the "Company")

Grant of Options

 

Union Jack Oil plc (AIM: UJO), a UK-focused onshore hydrocarbon production, development and exploration company, announces the following grants of options:

·    120,000,000 Share Options to David Bramhill, Executive Chairman;

·    30,000,000 Share Options to Raymond Godson, Non-Executive Director;

·    80,000,000 Share Options to Graham Bull, Non-Executive Director, and

·    30,000,000 Share Options to Matthew Small, Company Secretary.

The Share Options have an exercise price of 0.265p, being the mid-market closing price on 18 July 2019.

The vesting date is 19 July 2022 and the exercise period expires on 19 July 2029.  The Share Options can only be exercised if the share price is at a 30% premium to the exercise price.

Following the grants of the Share Options, the Directors' interests in the Company are as follows:

Director

Shareholding

%

Share options

Exercise price

Vesting period

D Bramhill

 

 

63,929,285

0.5

120,000,000

120,000,000

0.09p

0.265p

 

18.7.21-19.7.28

19.7.22-18.7.29

J O'Farrell

 

242,399,473

2.0

60,000,000

0.09p

18.7.21-18.7.28

R Godson

 

48,411,764

0.4

30,000,000

30,000,000

 

0.11p

0.265p

7.11.21-7.11.28

19.7.22-18.7.29

G Bull

 

4,000,000

0.03

30,000,000

80,000,000

0.11p

0.265p

7.11.21-7.11.28

19.7.22-18.7.29

 

 

The number of Share Options being granted is 260,000,000, which is 2.1% of the number of shares currently in issue.

Related Party Transaction

The grant of the options is a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.

Joseph O'Farrell, being an independent director, considers, having consulted the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.

 

PDMR Notification

1.             

Details of the person discharging managerial responsibilities/person closely associated

(a)          

Full name of person Dealing

Raymond George Godson

2.             

Reason for notification

(a)          

Position/status

Non-Executive Director

(b)           

Initial notification/ Amendment

Initial notification

3.             

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)          

Name of entity

Union Jack Oil plc

(b)           

LEI

2138005VW7IUUUPY5Q88

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

Options over ordinary shares of 0.025 pence each in the Company

(b)          

Identification code

GB00B814XC94

(c)           

Nature of the transaction

Grant of options over ordinary shares

(d)          

Price and volume

Price

Volume

0.265  pence

30,000,000

(e)           

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Price

Volume

0.265  pence

30,000,000

(f)           

Date of transaction

19 July 2019

 

(g)           

Place of transaction

Outside a trading venue

 

PDMR Notification

1.             

Details of the person discharging managerial responsibilities/person closely associated

(a)          

Full name of person Dealing

Graham Bull

2.             

Reason for notification

(a)          

Position/status

Non-Executive Director

(b)          

Initial notification/ Amendment

Initial notification

3.             

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)          

Name of entity

Union Jack Oil plc

(b)          

LEI

2138005VW7IUUUPY5Q88

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

Options over ordinary shares of 0.025 pence each in the Company

(b)          

Identification code

GB00B814XC94

(c)           

Nature of the transaction

Grant of options over ordinary shares

(d)           

Price and volume

Price

Volume

0.265 pence

80,000,000

(e)           

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Price

Volume

0.265 pence

80,000,000

(f)          

Date of transaction

19 July 2019

 

(g)           

Place of transaction

Outside a trading venue

 

PDMR Notification

1.             

Details of the person discharging managerial responsibilities/person closely associated

(a)          

Full name of person Dealing

Matthew Small

2.             

Reason for notification

(a)          

Position/status

Company Secretary

(b)           

Initial notification/ Amendment

Initial notification

3.             

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)          

Name of entity

Union Jack Oil plc

(b)           

LEI

2138005VW7IUUUPY5Q88

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

Options over ordinary shares of 0.025 pence each in the Company

(b)          

Identification code

GB00B814XC94

(c)           

Nature of the transaction

Grant of options over ordinary shares

(d)          

Price and volume

Price

Volume

0.265 pence

30,000,000

(e)           

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Price

Volume

0.265 pence

30,000,000

(f)           

Date of transaction

19 July 2019

 

(g)           

Place of transaction

Outside a trading venue

 

 

PDMR Notification

1.             

Details of the person discharging managerial responsibilities/person closely associated

(a)          

Full name of person Dealing

David Roger Bramhill

2.             

Reason for notification

(a)          

Position/status

Executive Chairman

(b)           

Initial notification/ Amendment

Initial notification

3.             

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)          

Name of entity

Union Jack Oil plc

(b)           

LEI

2138005VW7IUUUPY5Q88

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

Options over ordinary shares of 0.025 pence each in the Company

(b)          

Identification code

GB00B814XC94

(c)           

Nature of the transaction

Grant of options over ordinary shares

(d)          

Price and volume

Price

Volume

0.265 pence

120,000,000

(e)           

Aggregated information:

- Aggregated volume

- Price

Single transaction as in 4(d) above

Price

Volume

0.265 pence

120,000,000

(f)           

Date of transaction

19 July 2019

 

(g)           

Place of transaction

Outside a trading venue

 

 

For further information please contact the following:

Union Jack Oil plc 

+44 (0)7787 160 682

David Bramhill




SP Angel Corporate Finance LLP                    

+44 (0)20 3470 0470

Nominated Adviser


Lindsay Mair


Richard Hail




 


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 [email protected] or visit www.rns.com.
 
END
 
 
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