UK Oil & Gas PLC Issue of Shares (6038Y)
02 Enero 2020 - 9:55AM
UK Regulatory
TIDMUKOG
RNS Number : 6038Y
UK Oil & Gas PLC
02 January 2020
UK Oil & Gas PLC
("UKOG" or the "Company")
Issue of Shares
UK Oil & Gas PLC (London AIM: UKOG), announces that pursuant
to its RNS of 7 August 2019, in which UKOG agreed to acquire the
entire share capital of Magellan Petroleum (UK) Investment Holdings
Limited ("Magellan") for a total consideration of GBP12 million in
cash and shares. UKOG has today allotted 331,125,828 new ordinary
shares to Tellurian Investments LLC ("Tellurian") in relation to
the deferred share element of the consideration. The shares rank
pari passu in all respects with the existing ordinary shares. It is
anticipated that the shares will be admitted to trading on AIM on
or around 8 January 2020 ("Admission").
Magellan holds a 35% direct interest in the Horse Hill oil field
and surrounding highly prospective PEDL137 and PEDL246 licences,
UKOG's flagship asset.
Following Admission of the Investor Shares, the Company's issued
share capital will comprise 7,322,645,119 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 transaction with Tellurian are outlined in the
announcement of 7 August 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
ALSUUVVRRUUARAR
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January 02, 2020 10:55 ET (15:55 GMT)
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