loan conv28 Jun 2018 16:20
28 June 2018
UK Oil & Gas Investments PLC
("UKOG" or the"Company")
Loan Conversion & Exercise of Warrants
Loan Conversion
UK Oil & Gas Investments PLC (London AIM: UKOG), announces that, in relation to the GBP10 million financing announced on 15 November 2017 ("Loan"), it has received a notice of exercise from Cuart Investments PCC Ltd and YA II PN Ltd ("Investors") to convert part of the Loan, with an aggregate par value of GBP750,000, into equity ("Conversion Notice").
The Company has, therefore, today allotted 65,133,190 new ordinary shares to the Investors ("Investor Shares"). The Investor Shares will rank pari passu in all respects with the existing ordinary shares.
Application will be made for these Investor Shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 5 July 2018. After today's conversion, the Par Value outstanding on the Loan is GBP1.75 million.