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Last checked at 
7 Nov 2019 16:33
UK Oil & Gas PLC
("UKOG" or the "Company")
Loan Balance Reduction
UK Oil & Gas PLC (London AIM: UKOG), announces that, in relation to the £5.5 million financing announced on 7 August 2019 ("Loan"), it has received a notice from Riverfort Global Opportunities PCC Limited and YA II PN Ltd ("Investors") to convert £150,000 of the Loan into UKOG shares. After today's conversion, the Loan's balance has reduced to £4.2 million.
The Company has today allotted 15,247,001 new ordinary shares to the Investors ("Investor Shares"). The Investor Shares will rank pari passu in all respects with the existing ordinary shares. It is anticipated that the Investor Shares will be admitted to trading on AIM on or around 13 November 2019 ("Admission").
Following Admission of the Investor Shares, the Company's issued share capital will comprise 6,690,161,163 ordinary shares. As the Company does not hold any shares in treasury, this figure of ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Summaries loan terms can be seen in the Company's previous announcement on the 27 September 2019.
For further information, please contact:
UK Oil & Gas PLC
Stephen Sanderson / Kiran Morzaria Tel: 01483 900582
WH Ireland Ltd (Nominated Adviser and Broker)
James Joyce / James Sinclair-Ford Tel: 020 7220 1666
Cenkos Securities PLC (Joint Broker)
Joe Nally / Neil McDonald Tel: 0207 397 8919
Novum Securities (Joint Broker)
John Bellis Tel: 020 7399 9400
Public Relations
Brian Alexander Tel: 01483 900582
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014
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