UK Oil & Gas plc has reduced its 2023 loan by issuing 200 million ordinary shares to lenders RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. Conversion of the equity shares will further reduce the current £545,000 principal balance of the £2m gross first cash sum received. UKOG said that the reduction in […]
Tag: loan
UKOG issues 207m shares to reduce £2m loan
UK Oil & Gas plc has issued 206,965,282 ordinary shares to reduce the £2 million loan from lenders RiverFort Global Opportunities PCC Ltd and YA II PN Ltd. Future conversion of the shares will further reduce the principal balance below January’s £660,000 figure. Following admission, the total voting rights in the company will be 3,460,957,892 ordinary shares. […]
Angus grants 30m incentive share options
Angus Energy plc granted 30 million share options under its existing employee incentive schemes to its employees. The company said that the grant, from 19 January, reflected the management’s efforts in achieving successful operations at the Saltfleetby gas field. The share options have an exercise price of 0.67 pence per share and a 10-year term […]
Altona agrees £250,000 loan for Monte Muambe PFS
Altona Rare Earths plc has agreed a £250,000 loan to advance the prefeasibilty study for Monte Muambe in northwest Mozambique. The two-tranche loan from Catalyse Capital Ltd, which has previously supported the company, will progress work focused on metallurgy. The repayment date is 20 December 2024 and the loan carries a fixed interest of 20% […]
Serica secures new $525m loan with $1bn potential
Serica Energy plc has signed a new US$525 million secured reserves based lending facility, with the potential to double the figure to more than $1 billion. QUALITY The new transaction simplifies the company’s financing arrangement by replacing the existing RBL and junior facilities with a single facility. The existing RBL facility has $271m drawn and […]
Angus issues shares for £3m loan
Angus Energy plc received shareholders’ approval in yesterday’s general meeting to issue 516,033,308 shares at 0.66 pence to Kemexon Ltd in exchange for a £3 million loan. Following the issue of the shares, Angus will have 4,142,893,340 ordinary shares in issue, each with one vote. The company holds no ordinary shares in treasury.