UK Oil & Gas plc (UKOG) issued the third tranche of shares, relating to last year’s first investment sum of £2 million, to RiverFort Global Opportunities PCC Ltd and YA II PN Ltd.
UKOG said that the first three tranches of equity shares had now been converted at the investors’ discretion to repay the loan, with a balance of £800,000.
The investors converted the loan’s second tranche of 1,424,487,652 shares at an average price of 0.025 pence per share.
The third tranche of 1,087,649,954 shares was converted at an average of 0.022 pence per share.
Following admission of the third tranche of shares UKOG’s total voting rights will be 24,908,513,710 ordinary shares.