UK Oil & Gas PLC Loan Balance Reduction (2101V)
November 29 2019 - 9:35AM
UK Regulatory
TIDMUKOG
RNS Number : 2101V
UK Oil & Gas PLC
29 November 2019
UK Oil & Gas PLC
("UKOG" or the "Company")
Loan Balance Reduction
UK Oil & Gas PLC (London AIM: UKOG), announces that, in
relation to the GBP5.5 million financing announced on 7 August 2019
("Loan"), it has received a notice from Riverfort Global
Opportunities PCC Limited and YA II PN Ltd ("Investors") to convert
GBP150,000 of the Loan into UKOG shares. After today's conversion,
the Loan's balance has reduced to GBP3.75million.
The Company has today allotted 16,460,002 new ordinary shares to
the Investors ("Investor Shares"). The Investor Shares will rank
pari passu in all respects with the existing ordinary shares. It is
anticipated that the Investor Shares will be admitted to trading on
AIM on or around 5 December 2019 ("Admission").
Following Admission of the Investor Shares, the Company's issued
share capital will comprise 6,738,389,264 ordinary shares. As the
Company does not hold any shares in treasury, this figure of
ordinary shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
A summary of the loan terms can be seen in the Company's
previous announcement on 27 September 2019.
For further information, please contact:
UK Oil & Gas PLC
Stephen Sanderson / Kiran Morzaria Tel: 01483 900582
WH Ireland Ltd (Nominated Adviser and Broker)
James Joyce / James Sinclair-Ford Tel: 020 7220 1666
Cenkos Securities PLC (Joint Broker)
Joe Nally / Neil McDonald Tel: 0207 397 8919
Novum Securities (Joint Broker)
John Bellis Tel: 020 7399 9400
Public Relations
Brian Alexander Tel: 01483 900582
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCPGGPWGUPBGAB
(END) Dow Jones Newswires
November 29, 2019 10:35 ET (15:35 GMT)
Uk Oil & Gas (LSE:UKOG)
Historical Stock Chart
From Apr 2024 to May 2024
Uk Oil & Gas (LSE:UKOG)
Historical Stock Chart
From May 2023 to May 2024