Union Jack Oil PLC (LON:UJO) Grant of Options

Union Jack Oil plc (AIM: UJO), a UK-focused onshore hydrocarbon production, development and exploration company, announces the grant of 80,000,000 Share Options to Joseph O`Farrell, Executive Director.

The Share Options have an exercise price of 0.265p, being the mid-market closing price on 5 August 2019.

The vesting date is 6 August 2022 and the exercise period expires on 6 August 2029.  The Share Options can only be exercised if the share price is at a 30% premium to the exercise price.

Following the grant 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

0.53

120,000,000

120,000,000

0.09p

0.265p

 

18.07.21 – 19.07.28

19.07.22 – 18.07.29

J O’Farrell

 

242,399,473

2.00

60,000,000

80,000,000

0.09p

0.265p

18.07.21 – 18.07.28

06.08.22 – 05.08.29

 

R Godson

 

48,411,764

0.40

30,000,000

30,000,000

 

0.11p

0.265p

07.11.21 – 07.11.28

19.07.22 – 18.07.29

G Bull

 

4,000,000

0.03

30,000,000

80,000,000

0.11p

0.265p

07.11.21 – 07.11.28

19.07.22 – 18.07.29

 

 

The number of Share Options being granted is 80,000,000, which is 0.66% 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.

David Bramhill, Graham Bull and Raymond Godson, being independent directors, consider, 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

Joseph O`Farrell

2.             

Reason for notification

(a)          

Position/status

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

6 August 2019

 

(g)           

Place of transaction

Outside a trading venue

 

READ
Share Talk Bulletin Board Heroes, Wednesday 9th October 2019

 

 

Register for the Share Talk investor evening, London 26th November 2019


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