(Alliance News) - UK Oil & Gas PLC on Wednesday said it received a notice from lenders Riverfort Global Opportunities PCC Ltd and YA II PN Ltd to convert GBP75,000 of a loan into shares.
The oil & gas firm said it has allotted 27.7 million shares to the lenders, reducing the loan balance to GBP2.3 million. Following admission of the shares, the company now has 7.85 billion shares in issue.
UKOG shares were trading flat at 0.30 pence each on Wednesday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Uk Oil & Gas (UKOG)