REG - UK Oil & Gas PLC - Loan Reduction Update

UK Oil & GasAnnouncement

21/06/2024 13:15

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RNS Number : 4426T  UK Oil & Gas PLC  21 June 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
247,524,752 Equity Shares to repay a further £50,000 of the Loan, the
principal balance of which now stands today at £0.21 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
247,524,752 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
27 June 2024.

 

Following Admission, the total voting rights in the Company will be
4,834,122,740 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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