Union Jack Oil plc
(AIM: UJO)
Exercise of Warrants and Director Dealing
Union Jack Oil plc (the "Company"), an onshore oil and gas exploration company with a focus on drilling and development opportunities in the United Kingdom hydrocarbon sector announces that on 30 September 2014 it received notice for the exercise of 20,000,000 warrants thereby generating gross cash proceeds of £51,000 for the Company. Further detail on the warrant exercise is set out below:
Exercise price (pence) |
Expiry date |
Number of warrants exercised |
0.30 |
28 January 2015 |
8,000,000 |
0.225 |
18 March 2019 |
12,000,000 |
|
|
|
Following the exercise of the warrants, the total number of warrants outstanding will be 355,352,548. 300,300,000 of these relate to warrants issued to placees on admission of the Company to trading on AIM. These warrants have an exercise price of 0.3p and expire on 28 January 2015 ("0.3p Warrants").
Director Dealing
2,000,000 of the 0.3p Warrants exercised today were exercised by Raymond Godson, a non-executive director, and as a consequence of the warrant exercise Raymond Godson is interested in 14,000,000 ordinary shares representing 0.59% of issued share capital of the Company following admission of the New Ordinary Shares as defined below.
Admission and Total Voting Rights
Pursuant to the above exercise, 20,000,000 new ordinary shares of 0.025 pence each in the Company (the "New Ordinary Shares") have been issued and allotted. The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares. Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM and admission is expected to take place on 6 October 2014. Following admission of the New Ordinary Shares, the enlarged issued share capital will amount to 2,398,420,570 ordinary shares of 0.025p each.
The Company does not hold any shares in treasury and the above figure may therefore be used by shareholders as the denominator for the calculation to determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
For further information please contact:
Union Jack Oil plc David Bramhill |
+44 (0) 77871 60682 |
Shore Capital Nominated Adviser Bidhi Bhoma, Edward Mansfield Corporate Broking Jerry Keen |
+44 (0) 20 7408 4090 |
Northland Capital Joint Broker Gavin Burnell, Alice Lane |
+44 (0) 20 7382 1100 |
Yellow Jersey PR Limited Public Relations Dominic Barretto Kelsey Traynor |
+44 (0)7768 537 739 +44 (0)7799 003 220 |
