UK Oil and Gas plc has raised approximately £248,204 via a retail offer for 496,408,000 new ordinary shares of £0.000001 each in the company, at 0.05 pence per share.
The funds raised add to the company’s 37% discounted placing on 5 August, which raised £1 million at the same price per share.
Issue of shares is conditional on shareholders’ approval at the company’s general meeting on 21 August.
Following admission, UKOG’s total voting rights will number 11,140,761,388.