UK Oil & Gas plc’s chief executive Steve Sanderson has further increased his share in the company.
SHARE PURCHASE PROGRAMME
On 25 July, Mr Sanderson bought 942,507 shares in the company at 10.6p each for £99,999.
The latest purchase follows a similar move in December 2021, when he purchased 985,221 ordinary shares in the company 0.1015p per share.
This was conducted under Defined Directors Share Purchase Programme (DDSPP) announced in May 2021.
Mr Sanderson entered the DDSPP in December 2021 and has committed to purchase approximately 7% of his net monthly salary in ordinary shares each month for 12 months with the final purchase expected on 18 November 2022.
“The director has entered the DDSPP in an open period and is committed to making the monthly purchase of shares under the programme in what otherwise may be a closed period,” said UKOG in a statement.
“Entering the DDSPP will not preclude the director from buying additional shares in the company during open periods.
“The director will be able to enter a new DDSPP upon completion of an existing programme.”