23rd Jul 2019 07:01
23rd July 2019
United Oil & Gas PLC
("United" or the "Company")
Suspension of trading on AIM
and Conditional Acquisition
Further to the conditional acquisition of Rockhopper Egypt Pty Limited ("Rockhopper Egypt") RNS announced this morning, United Oil & Gas PLC (AIM: "UOG"), the AIM traded oil and gas exploration and development company, announces that by virtue of its size, the proposed acquisition of Rockhopper Eqypt ("Acquisition") would constitute a reverse takeover under AIM Rule 14. Accordingly, the Company's Ordinary Shares will be suspended from trading on AIM with effect from 07:30am today, pending publication of an AIM admission document and circular to shareholders to approve the Acquisition.
Further announcements will be made, as appropriate, in due course.
Proposed Fundraise
The Directors intend to undertake an equity fundraise in connection with the Acquisition. The proceeds of the proposed fundraise will be used to fund the Acquisition, support the enlarged Group's business plan and for general working capital. Further details will be announced in due course.
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
Enquiries:
United Oil & Gas Plc (Company) | |
Brian Larkin, CEO | |
Beaumont Cornish Limited (Nominated Adviser) | |
Roland Cornish and Felicity Geidt | +44 (0) 20 7628 3396 |
Optiva Securities Limited (Broker) | |
Christian Dennis | +44 (0) 20 3137 1902 |
Murray (PR Advisor) | +353 (0) 87 6909735 |
Joe Heron | |
St Brides Partners (Financial PR/IR) | |
Frank Buhagiar and Juliet Earl | +44 (0) 207 236 1177 |
Related Shares:
United Oil&gas