Business
Grant of Options
Grant of Options.
About this update from Union Jack Oil Plc
[{"type":"text","content":"\n \nRNS Number : 9730H Union Jack Oil PLC 06 August 2019 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain 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\n \n \n \n6 August 2019\n \nUnion Jack Oil plc\n(\"Union Jack\" or the \"Company\")\nGrant of Options\n \nUnion 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.\nThe Share Options have an exercise price of 0.265p, being the mid-market closing price on 5 August 2019.\nThe 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.\nFollowing the grant of the Share Options, the Directors' interests in the Company are as follows:\n\n\n\nDirector\n\n\nShareholding\n\n\n%\n\n\nShare options\n\n\nExercise price \n\n\nVesting period\n\n\n\n\nD Bramhill\n \n \n\n\n63,929,285\n\n\n0.53\n\n\n120,000,000\n120,000,000\n\n\n0.09p \n0.265p\n \n\n\n18.07.21 - 19.07.28\n19.07.22 - 18.07.29\n\n\n\n\nJ O'Farrell\n \n\n\n242,399,473\n\n\n2.00\n\n\n60,000,000\n80,000,000\n\n\n0.09p\n0.265p\n\n\n18.07.21 - 18.07.28\n06.08.22 - 05.08.29\n \n\n\n\n\nR Godson\n \n\n\n48,411,764\n\n\n0.40\n\n\n30,000,000\n30,000,000\n \n\n\n0.11p\n0.265p\n\n\n07.11.21 - 07.11.28\n19.07.22 - 18.07.29\n\n\n\n\nG Bull\n \n\n\n4,000,000\n\n\n0.03\n\n\n30,000,000\n80,000,000\n\n\n0.11p\n0.265p\n\n\n07.11.21 - 07.11.28\n19.07.22 - 18.07.29\n \n\n\n\n \nThe number of Share Options being granted is 80,000,000, which is 0.66% of the number of shares currently in issue.\nRelated Party Transaction\nThe grant of the options is a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.\nDavid 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.\n \nPDMR Notification\n\...