Union Jack Oil plc (AIM: UJO) shareholders approved a full board overhaul at a requisitioned general meeting held on August 24, 2026, removing three directors and appointing two new executives with near-unanimous backing.
The resolutions, originally announced on July 27, 2026, included the removal of David Bramhill, Joseph O'Farrell, and Dr Zac Phillips from the board with immediate effect. In their place, Craig Howie and John Americanos were appointed as executive chairman and executive director, respectively.
Voting results showed strong shareholder support for the changes, with approval ranging from 90.55% to 90.89% across all resolutions. Howie, who holds 13.42 million shares representing 9.15% of Union Jack Oil’s voting rights, received 90.85% support for his appointment. Americanos, with a 4.93% stake via 7.23 million shares, secured 90.82% approval.
The incoming board outlined immediate priorities, including reducing the company’s central cost base, particularly directors’ remuneration, according to a statement from Howie. Longer-term goals include improving investor communication, strengthening corporate governance, and optimizing capital allocation at both asset and corporate levels. Independent non-executive directors are expected to be appointed to enhance board oversight in the coming months.
