United Oil & Gas plc awarded an aggregate 203,814,481 share options under its updated unapproved share option scheme from 2025.
On 18 August 2026, a total of 97,932,799 share options, representing 2.11% of the company’s current issued share capital, were awarded to employees and consultants.
A total of 105,881,682 share options (2.28%) were awarded to persons discharging managerial duties.
Chief executive officer and director Brian Larkin received 48,248,136 new options, and now holds 210,078,708 options.
Non-executive director Iman Hill received 20 million new options and now has 21,481,481 options, while non-board chief financial officer Simon Brett was awarded 37,633,546 new options, taking his total held to 116,800,213.
The 10-year options exercise at £0.0024 per ordinary share and vest one year from the date of the grant, subject to the company’s share price increasing to £0.006 per ordinary share.
United now has 575,403,278 share options in issue, equal to approximately 12.41% of its current issued share capital which numbers 4,636,021,868 ordinary shares.
The company holds the Walton Morant oil exploration block, offshore Jamaica, and a 26.25% working interest in the Waddock Cross oil development, onshore Dorset.