---
title: "Union Jack Oil PLC (AIM:UJO) Capital Reduction Effective"
publisher: "Share Talk"
author: "sharetalk"
published: "2022-08-30T13:48:21+00:00"
modified: "2022-08-30T13:48:21+00:00"
date: 2022-08-30
canonical: "https://www.share-talk.com/union-jack-oil-plc-aimujo-capital-reduction-effective/"
category: "Energy"
categories: ["Energy"]
tags: ["3D seismic data", "Biscathorpe", "Biscathorpe-2", "Claymore", "David Bramhill", "development", "EDR", "Egdon Resources", "Egdon Resources U.K", "EOG", "Europa Oil & Gas", "Fiskerton Airfield", "gas", "Graham Bull", "Humber Basin", "Humber Oil & Gas Limited", "HYDROCARBON", "Keddington", "North Sea", "oil", "oilfield", "onshore", "onshore hydrocarbon", "PEDL253 licence", "Piper", "production", "Scapa", "side-track", "South Humber Basin", "UJO", "UKOOG", "Union Jack Oil", "Union Jack Oil plc", "Weald Basin", "West Newton", "West Newton A-2", "Wressle", "Wressle-1"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Union Jack Oil PLC (AIM:UJO) Capital Reduction Effective

**Published:** August 30, 2022
**Author:** sharetalk
**Categories:** Energy
**Tags:** 3D seismic data, Biscathorpe, Biscathorpe-2, Claymore, David Bramhill, development, EDR, Egdon Resources, Egdon Resources U.K, EOG, Europa Oil & Gas, Fiskerton Airfield, gas, Graham Bull, Humber Basin, Humber Oil & Gas Limited, HYDROCARBON, Keddington, North Sea, oil, oilfield, onshore, onshore hydrocarbon, PEDL253 licence, Piper, production, Scapa, side-track, South Humber Basin, UJO, UKOOG, Union Jack Oil, Union Jack Oil plc, Weald Basin, West Newton, West Newton A-2, Wressle, Wressle-1
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1)

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**Union Jack Oil plc (AIM: UJO)** a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that the Capital Reduction exercise that is being pursued following the passing of a special resolution of the Company at its Annual General Meeting on 23 June 2022, has been approved (“Capital Reduction”).

This follows the confirmation of the Capital Reduction by the High Court of Justice, on 30 August 2022. The Capital Reduction will become effective once the Court order has been registered with the Registrar of Companies, which is expected to happen on 31 August 2022.

Subject to the filing of the Court order with the Registrar of Companies, the Capital Reduction creates additional reserves to the value of £21,553,557. This provides the Company with further flexibility to deliver shareholder returns in the form of dividends and/or share buybacks.

For further information, please contact

Union Jack Oil plc [info@unionjackoil.com](mailto:info@unionjackoil.com)

David Bramhill

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