UKOG Uk Oil & Gas Plc

TIDMUKOG

RNS Number : 8046B

UK Oil & Gas PLC

03 February 2020

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 GBP200,000 of the Loan into UKOG shares.

The Company has today allotted 35,663,338 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 7 February 2020 ("Admission"). After today's conversion, the Loan's balance has reduced to GBP3.15 million

Following Admission of the Investor Shares, the Company's issued share capital will comprise 7,393,268,602 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 243450

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 243450

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

MSCUPUWPPUPUGQW

(END) Dow Jones Newswires

February 03, 2020 11:25 ET (16:25 GMT)

Uk Oil & Gas (LSE:UKOG)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024

Uk Oil & Gas (LSE:UKOG)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024