Business
Final Settlement of Legacy Liability and TVR
Final Settlement of Legacy Liability and TVR.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n\n United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas\n \n27th January 2025\nUnited Oil & Gas plc\n(\"United\" or \"the Company\")\n \nFinal Settlement of Legacy Liability and TVR\n \nUnited Oil & Gas Plc (AIM: \"UOG\"), the oil and gas company with a high impact exploration asset in Jamaica and a development asset in the UK is pleased to announce that the Company has agreed to settle an outstanding legacy liability with Rockhopper Exploration Plc through the issuance of 59,523,810 new ordinary shares at a price of £0.001 per share. The settlement price is consistent with the recent placing price earlier this month.\n \nApplication will be made to the London Stock Exchange for the Settlement Shares comprising 59,523,810 new ordinary shares of £0.00001 each, to be admitted to trading on AIM shortly. On completion of the issuance of the shares, the Total Voting Rights (\"TVR\") will be 1,915,877,779.\n \nBrian Larkin, United Chief Executive Officer commented:\n\"Settling this legacy liability, which we have provided for in our prior years Accounts, allows us to focus our efforts on advancing our high-impact exploration opportunity in Jamaica, where we continue to progress the farmout process. With this matter now closed, we can drive forward our strategic priorities and deliver value for shareholders.\"\n \n**ENDS**\n \n \n\n\n\n\nEnquiries\n\n\n\n\n\n\n\n\n\n\nUnited Oil & Gas Plc (Company)\n\n\n\n\n\n\n\n\n\n\nBrian Larkin, CEO\n\n\n\n\n\[email protected]\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBeaumont Cornish Limited (Nominated Adviser)\n\n\n\n\n\n\n\n\n\n\nRoland Cornish | Felicity Geidt | Asia Szusciak\n\n\n\n\n\n+44 (0) 20 7628 3396\n\n\n\n\n \nTennyson Securities (Joint Broker)\n\n\n\n\n\n\n\n\n\n\nPeter Krens\n\n\n\n\n\n+44 (0) 20 7186 9030\n\n\n\n\n \nOptiva Securities Limited (Joint Broker)\n\n\n\n\n\n\n\n\n\n\nChristian Dennis\n\n\n\n\n\n+44 (0) 20 3137 1902\n \n \n\n\n\n\nShard Capital Limited (Joint Broker)\nDamon Heath | Isabella Pierre \n\n\n\n\n\n+44 (0) 207 186 9900\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \nBeaumont Cornish Limited (\"Beaumont Cornish\") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's respo...