Member Info for Eddie187

I certainly wouldn't hold your breath. The good news is the GM is scheduled on the 10th August, so I'd expect to hear some news on the direction of the company in the coming days afterwards, unless of course it gets reschedule again!

Thanks to those who responded. Makes more sense now

I just received this on my HL account.
Is this dilution? I'm still fairly new to aim so be kind

UK OIL GAS PLC - OPEN OFFER
UK OIL GAS PLC is proposing an Open Offer on the following basis:

1 New Ordinary share for every 5 Existing Ordinary shares held at an Issue Price of 0.18 pence per New Ordinary share.

In addition to this, you may apply for excess shares. If you wish to apply for excess shares then you must enter the total quantity of shares you wish to apply for, e.g. if your basic entitlement was 100 shares and you wished to apply for 20 excess shares, then you would enter 120 as the total quantity of shares required.

How This Affects You:

Based on your holding of 940668 UK OIL GAS PLC ORD GBP0.0001 shares on 12 July 2021, which was the Open Offer Ex Date, you have an Entitlement to 188133 UK OIL GAS PLC ORD GBP0.0001 shares at a total cost of 338.63 GBP.

You Have The Following Options:

1 Accept the Offer to buy 188133 UK OIL GAS PLC ORD GBP0.0001 shares at a cost of 338.63 GBP.

We will process your instruction on or after 21 July 2021 23:59. Please ensure funds to take up your Entitlement are available as detailed in the 'How Will Payment be Made?' section.

If you do not have sufficient cleared funds to take up all of the specified number of shares then we will take up the maximum number of shares we can based on the funds available.
2 Accept the Offer to buy a specified number of UK OIL GAS PLC ORD GBP0.0001 shares.

We will process your instruction on or after 21 July 2021 23:59. Please ensure funds to take up your Entitlement are available as detailed in the 'How Will Payment be Made?' section.

If you do not have sufficient cleared funds to take up all of the specified number of shares then we will take up the maximum number of shares we can based on the funds available.

If there is an excess application available on the Offer and you apply for more than your basic Entitlement then please be aware that if the Offer is fully subscribed there is no guarantee that you will receive any or all additional shares applied for.

Lapse - If you do not wish to apply for any Offer shares, you do not need to take any action and your entitlement will expire when the Offer closes.

The total number of shares you will own will stay the same. However, the proportion of the Company you own will reduce as more shares will be in issue.
Important Information & Other Key Dates:

On 9th July 2021, UK Oil & Gas PLC (UKOG) announced that it intends to raise gross proceeds of up to approximately GBP4.7 million through the issue of 2,643,429,529 New Ordinary shares, at an issue price of 0.18 pence per New Ordinary share.

If you accept the Open Offer, the New Ordinary shares are expected to be credited to your account on or after 27th July 2021. These shares will not be available to sell until this time. If for any reason the Open Offer is not completed, any payment you have made will be returned and you will b

Talk about dangling the carrot. Why can't they just stick to a date and stop messing everyone about. Another 4 weeks of waiting....

Does anyone have a link where we can view the GM?

Ian, We will find out tomorrow hopefully

Feeling a lot better after that RNS. Lots going on behind the scenes and it must be positive news coming if they have the GM rescheduled. In the meantime I'll focus on my other losses haha

Let's hope so mate

True 1DM, problem is the majority of my share funds are tied up in icon. I see KOD is flying and kick myself often, also Hurricane has been unreal on the recovery.

Was expecting an RNS this morning at least... nothing again and back to the unknown we go

Cooper - Fair point. I just hope we hear something from the administrators or BoD, as long as it's something to take us out of this limbo state

I agree with what is said here as ICON are not at the realm just now and couldn't update with any news good or bad even if they wanted to, due to the administrators still being in situ. Like has already been said we want an RNS stating the administrators have stood down, then and only then do I expect to hear from the BoD

hear*

I'd at least give it until tomorrow to here anything

Totally agree maidit, it's not even 2pm and that's only when the GM starts so I'd be surprised if we see an RNS before close today. It's more likely going to come this evening or tomorrow

The GM isn't until 2pm so I doubt we will hear anything until after that if not tomorrow

How is everyone feeling ahead of tomorrows GM? I'm feeling positive and looking forward to the good news

Nice rise before the weekend closes out

Skintbuilder nice that you got in at such low price. I'm about 10% in profit overall and had high hopes for this to rocket. It's like betting on a 40/1 on the grand national, when it pays off it pays off big.

I'm looking forward to the 29th regardless of the outcome. Hanging in limbo is almost worse than losing the cash all together.... I'm also surprised there hasn't been any more updates as surely they have a clearer picture of the future by now. Enjoy the weekend and keep everything crossed as that's all we can do