RiverFort Global Opportunities PLC Investment update (7119I)
12 Agosto 2019 - 4:08AM
UK Regulatory
TIDMRGO
RNS Number : 7119I
RiverFort Global Opportunities PLC
12 August 2019
12 August 2019
RiverFort Global Opportunities plc
("RGO" or the "Company")
Investment update
The Company is pleased to announce that it has agreed to
participate in the GBP5.5 million loan agreement ("Loan") announced
by UK Oil & Gas plc ("UKOG") on 7 August 2019 in connection
with its acquisition of Magellan Petroleum (UK) Investment Holdings
Limited ("Magellan") for a total consideration of GBP12 million in
cash and shares. Magellan holds a 35% direct interest in the Horse
Hill oil field and surrounding highly prospective PEDL137 and
PEDL246 licences, UKOG's flagship asset.
The Company's participation in the Loan is expected to be
GBP700,000 and will be via a participation certificate issued by
RiverFort Global Opportunities PCC Limited.
UKOG is an AIM-listed independent oil and gas company with a
current market capitalisation of around GBP50 million. It is
focused primarily on oil and gas assets located in the Weald Basin
in Southern England. It has a portfolio of direct and indirect
investments in eight UK onshore exploration, appraisal, development
and production assets. As at 30 September 2018, the company had net
assets of GBP36.8 million. Further information on the company is
available at ukogplc.com.
The Company continues to actively deploy its investment capital
and has, in recent weeks made additional investments totalling over
GBP150,000.
Phillip Haydn-Slater, Non-executive Chairman commented:
"We are experiencing a continued strong demand for our
investment funds and are confident that attractive investment
opportunities will continue to present themselves to us."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For more information please contact:
RiverFort Global Opportunities
plc +44 20 3984 9191
Phillip Haydn-Slater,
Non-executive Chairman
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Nominated Adviser +44 20 7628 3396
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Beaumont Cornish
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Roland Cornish/Felicity
Geidt
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Joint Broker +44 20 7186 9950
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Shard Capital Partners
LLP
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Damon Heath/ Erik Woolgar
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Joint Broker +44 20 7562 3351
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Peterhouse Capital Limited
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Lucy Williams
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END
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