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Pin to quick picksUk Oil & Gas Regulatory News (UKOG)

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Loan Balance Reduction

Mon, 13th Jan 2020 15:25

RNS Number : 6473Z
UK Oil & Gas PLC
13 January 2020
 

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 £250,000 of the Loan into UKOG shares.

 

The Company has today allotted 34,960,145 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 17 January 2020 ("Admission"). After today's conversion, the Loan's balance has reduced to £3.35 million

 

Following Admission of the Investor Shares, the Company's issued share capital will comprise 7,357,605,264 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.  

 

A summary of the loan terms can be seen in the Company's previous announcement on 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


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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Date   Source Headline
13th Jan 20203:25 pmRNSLoan Balance Reduction
7th Jan 202011:09 amRNSHolding(s) in Company
2nd Jan 20203:55 pmRNSIssue of Shares
30th Dec 201912:47 pmRNSLoan Balance Reduction
23rd Dec 20197:00 amRNSHH-1 and HH-2z Extended Well Test Update

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