UK Oil & Gas PLC Further Loan Balance Reduction (3483P)
09 Octubre 2019 - 10:05AM
UK Regulatory
TIDMUKOG
RNS Number : 3483P
UK Oil & Gas PLC
09 October 2019
UK Oil & Gas PLC
("UKOG" or the "Company")
Further Loan Balance Reduction
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that, in relation to the GBP5.5 million financing announced on 7
August 2019 ("Loan"), following receipt of a notice from Riverfort
Global Opportunities PCC Limited and YA II PN Ltd ("Investors") to
convert GBP150,000 of the Loan into UKOG shares, the Loan's balance
has further reduced to GBP4.35 million.
The Company has today allotted 16,346,992 new ordinary shares to
the Investors ("Investor Shares") and has applied for them to be
admitted to trading on AIM. 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 16 October 2019.
The Loan terms can be seen in the Company's previous
announcement on 27 September 2019.
Share Incentive Plan ("SIP")
Further to the Company's 'Grant of Options and SIP' announcement
of 30 September 2019, the 201,000,000 new ordinary UKOG shares of
0.01p each issued pursuant to the SIP (the "SIP Shares") are to be
admitted to trading on AIM on 14th October 2019.
Admission of Shares
Upon admission of the SIP Shares to trading on AIM, on or around
the 14(th) October 2019, the Company's issued share capital will
comprise 6,658,567,170 ordinary shares.
Upon admission of the 16,346,992 Investor Shares to trading on
AIM, on or around the 16(th) October 2019, the Company's issued
share capital will comprise 6,674,914,162 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 from
the dates of admission detailed above, 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.
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
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(END) Dow Jones Newswires
October 09, 2019 11:05 ET (15:05 GMT)
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