Union Jack Oil PLC Grant of Options (9541U)

TIDMUJO

RNS Number : 9541U

Union Jack Oil PLC

18 July 2018

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

18 July 2018

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 that 120,000,000 share options have been granted to David Bramhill, Executive Chairman and 60,000,000 share options have been granted to Joe O`Farrell, Executive Director.

The share options have an exercise price of 0.09 pence, being the mid-market closing price as of 17 July 2018.

The share options vest on the third anniversary of the date of grant. The exercise period is between the third and tenth anniversary of the date of grant.

The share options can only be exercised if the share price trades at a 30% premium to the exercise price in the five consecutive business days prior to exercise. The terms of the plan, pursuant to which the share options are being granted, are consistent with industry practice, including the AIM Rules for Companies and the Market Abuse Regulation.

The share options granted represent approximately 3.1 per cent. of the issued share capital.

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.

Graham Bull and Raymond Godson, being the 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                David Bramhill 
       -----------------------------------------  ------------------------------------------- 
 2.     Reason for notification 
       -------------------------------------------------------------------------------------- 
  (b)   Position/status                            Executive Chairman 
       -----------------------------------------  ------------------------------------------- 
  (c)   Initial notification/ Amendment            Initial notification 
       -----------------------------------------  ------------------------------------------- 
 3.     Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
       -------------------------------------------------------------------------------------- 
  (d)   Name of entity                             Union Jack Oil plc 
       -----------------------------------------  ------------------------------------------- 
  (e)   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,   Options over ordinary 
         type of instrument                         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(s) and volume(s)                       Prices(s)     Volume(s) 
                                                     0.09 pence    120,000,000 
                                                                  ------------ 
       -----------------------------------------  ------------------------------------------- 
  (e)   Aggregated information:                    Single transaction 
         - Aggregated volume                        as in 4(d) above  Prices(s)     Volume(s) 
         - Price                                     0.09 pence    120,000,000 
                                                                  ------------ 
       -----------------------------------------  ------------------------------------------- 
  (f)   Date of transaction                        18 July 2018 
       -----------------------------------------  ------------------------------------------- 
  (g)   Place of transaction                       Outside a trading venue 
       -----------------------------------------  ------------------------------------------- 
 
 
 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 
       ---------------------------------------------------------------------------------- 
  (c)   Description of the financial instrument,   Options over ordinary 
         type of instrument                         shares of 0.025 pence 
                                                    each in the Company 
       -----------------------------------------  --------------------------------------- 
  (d)   Identification code                        GB00B814XC94 
       -----------------------------------------  --------------------------------------- 
  (e)   Nature of the transaction                  Grant of options over 
                                                    ordinary shares 
       -----------------------------------------  --------------------------------------- 
  (f)   Price(s) and volume(s)                       Prices(s)    Volume(s) 
                                                     0.09 pence    60,000,000 
                                                                  ----------- 
       -----------------------------------------  --------------------------------------- 
  (g)   Aggregated information:                    Single transaction as 
         - Aggregated volume                        in 4(d) above  Prices(s)    Volume(s) 
         - Price                                     0.09 pence    60,000,000 
                                                                  ----------- 
       -----------------------------------------  --------------------------------------- 
  (h)   Date of transaction                        18 July 2018 
       -----------------------------------------  --------------------------------------- 
  (i)   Place of transaction                       Outside a trading venue 
       -----------------------------------------  --------------------------------------- 
 

For further information please contact the following:

 
 Union Jack Oil plc                [phone] 
 David Bramhill 
 
 SP Angel Corporate Finance LLP    [phone] 
 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 [e-mail] or visit www.rns.com.

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July 18, 2018 02:00 ET (06:00 GMT)