Union Jack Oil plc (LON:UJO) a UK focused onshore hydrocarbon production, development and exploration company has announced a further update on the reduction of capital exercise that is being pursued following the passing of a special resolution of the Company at its Annual General Meeting on 23 June 2022.
An application to the High Court of Justice has been made and an initial hearing has been scheduled for 12 August 2022. A final hearing for the Court to consider the Capital Reduction has been scheduled for 30 August 2022. The timing and approval of the Capital Reduction remains at the discretion of the Court.
Union Jack Oil will announce any further developments in due course.