RNS Number : 8171O
UK Oil & Gas PLC
17 May 2024
 

UK Oil & Gas PLC

("UKOG" or the "Company")

 

 

Loan Reduction Update

 

UK Oil & Gas PLC (London AIM: UKOG) announces that, in relation to the funding facility announced on 28 June 2023 ("Loan"), it has issued RiverFort Global Opportunities PCC Limited and YA II PN Ltd ("Investors") a further 228,215,768 Equity Shares to repay a further £55,000 of the Loan, the principal balance of which now stands today at £0.37 million of the £2 million gross first cash sum received.

 

The Investors' share transactions remain subject to the orderly market, no short position and Investors voting in favour of the Company obligations as previously announced on 28 June 2023.

 

Admission

 

Application has been made for this tranche of Equity Shares, numbering 228,215,768 ordinary shares in total, to be admitted to trading on AIM ("Admission"). Admission is expected to take place at 8.00 a.m. on or around 22 May 2024.

 

Following Admission, the total voting rights in the Company will be 4,104,058,306 ordinary shares and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure, Guidance and Transparency Rules.

 

 

 

For further information, please contact:

UK Oil & Gas plc

Stephen Sanderson / Allen D Howard / Guzyal Mukhametzhanova                                  Tel: 01483 941493

 

WH Ireland Ltd (Nominated Adviser and Broker)                                                            

James Joyce / Andrew de Andrade / James Bavister                                                        Tel: 020 7220 1666

 

Communications

Brian Alexander                                                                                                                   Tel: 01483 941493  

 

 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this information is now considered to be in the public domain.

 

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