Finance News Oil & Gas

UKOG issues 876m shares to reduce £2m loan

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UK Oil & Gas plc has reduced its 2023 loan by issuing a fourth tranche of ordinary shares, totalling 876,412,394, to its lenders.

The balance of the £2 million gross first cash sum from RiverFort Global Opportunities PCC Ltd and YA II PN Ltd is now £660,000.

The shares were converted at an average of 0.0175 pence per share.

Following admission, UKOG’s total voting rights will be 29,534,926,104 ordinary shares.

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  1. Pingback: UK Oil & Gas issues 207m shares to reduce £2m loan - Extractive Industries

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