Finance News Oil & Gas

UKOG issues 207m shares to reduce £2m loan

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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.

UKOG announced the issue of shares on 13 March.

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  1. Pingback: UKOG further reduces loan with 200m shares issue - Extractive Industries

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