TIDMUJO TIDMUJOP

RNS Number : 4952K

Union Jack Oil PLC

22 September 2016

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Union Jack Oil plc

("Union Jack" or "the Company")

GBP700,000 Placing

The Directors of Union Jack Oil plc (UJO: AIM), are pleased to announce that the Company has raised GBP700,000 (before expenses) through a placing (the "Placing") of 411,764,706 new ordinary shares of 0.025p (the "Placing Shares") at a price of 0.17p per Placing Share.

The intended proceeds from the Placing are to further expand the Company's portfolio through the acquisition of interests in near term development and production opportunities onshore UK.

David Bramhill, Executive Chairman, commented:

"I am very pleased with the shareholder support for this funding, which was achieved at the closing bid price on 21 September 2016. The proceeds will provide us with the financial capacity to broaden our asset portfolio."

Admission

The Placing Shares will rank pari passu in all respects with the existing ordinary shares. Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM and admission is expected to take place on 28 September 2016. Following admission of the Placing Shares, the enlarged issued share capital will amount to 3,300,473,511 ordinary shares of 0.025p each.

Following this admission, the Company's share capital and total voting rights comprises 3,300,473,511 ordinary shares of 0.025p each and the Group does not hold any shares in treasury. Consequently, 3,300,473,511 is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, Inspired under the FCA's Disclosure and Transparency Rules.

For further information please contact:

 
Union Jack Oil plc 
 David Bramhill                     +44 (0) 77871 60682 
Shore Capital 
 Nominated Adviser 
 Edward Mansfield 
 Anita Ghanekar 
 Corporate Broking 
 Jerry Keen                         +44 (0) 20 7408 4090 
 
  SP Angel 
  Joint Broker 
  Richard Hail                        +44 (0) 20 3470 0470 
Turner Pope Investments (TPI) Ltd 
 Placing agent 
 James Pope / Ben Turner            +44 (0) 203 621 4120 
 
Yellow Jersey PR Limited 
 Public Relations 
 Dominic Barretto                     +44 (0) 7768 537 739 
 Aidan Stanley                        +44 (0) 7584 085 670

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 22, 2016 02:00 ET (06:00 GMT)

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