(Alliance News) - UK Oil & Gas PLC on Monday said it received a notice from its lenders Riverfort Global Opportunities PCC Ltd and YA II PN Ltd to convert GBP200,000 of a loan into shares.
UK Oil & Gas said it allotted 35.7 million shares to the lenders, reducing the loan balance GBP3.2 million.
UK Oil said it now has 7.39 billion shares in issue.
The company's stock was trading 4.8% lower at 0.71 pence each in London on Tuesday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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Uk Oil & Gas (UKOG)