Union Jack Oil plc has proposed to issue bonus warrants to all of its shareholders, in connection with the £2 million fundraise during August 2025.
MEETING
The company said that, following shareholder feedback, it would issue one bonus warrant for every four ordinary shares of five pence each, held by shareholders at 6pm on 3 November 2025.
The bonus warrants will be in addition to those warrants issued during the fundraise.
Shareholders will vote on the proposed issue of 40 million fundraise warrants and up to 36,641,474 bonus warrants to subscribe, in aggregate, for up to 76,641,474 ordinary shares
The fundraise and bonus warrants will each be exercisable at eight pence for a period of two years following their issue, expected to be on 7 November 2025.
Shareholders will vote at a general meeting on 30 October 2025.
Union Jack holds onshore oil and gas interests in the northeast England and Oklahoma, USA.