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(Alliance News) - UK Oil & Gas PLC said Monday it has received a notice to convert GBP150,000 of a GBP5.5 million loan into shares in the oil & gas company.
UK Oil & Gas has issued 17.8 million shares to natural resources-focused investor Riverfort Global Opportunities PCC Ltd and YA II PN Ltd. Following the partial loan conversion, the loan's balance has been reduced to GBP3.6 million.
In addition, UK Oil & Gas now has 6.99 billion shares issued overall.
Shares in UK Oil & Gas - which is headquartered in London - remained flat at 0.85 pence on Monday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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