I picked a good time to go shopping3 Nov 2023 14:36
Are you all asleep?
Equity Share Issue
UK Oil & Gas PLC (London AIM: UKOG) announces that as part of the previously announced £3 million funding facility of 28 June 2023 ("Loan"), it has delivered to RiverFort Global Opportunities PCC Limited and YA II PN Ltd ("Investors") the first and second tranches of ordinary shares ("Equity Shares") in relation to the first cash sum received of £2m gross. These shares can be converted at the Investors' discretion to repay the Loan, the balance of which now stands at approximately £1.4 million.
The Loan's first tranche of 1,300,000,000 has been converted by the Investors at an average price of 0.0504 pence per share. Investors can elect to convert the second tranche of 1,424,487,652 Equity Shares at the lower of the Variable Price* or the Fixed Price**.