UK Oil & Gas
PLC
("UKOG" or the
"Company")
Loan Reduction
Update
UK Oil & Gas PLC (London AIM: UKOG)
announces that, in relation to the funding
facility announced on 28 June 2023 ("Loan") and the
Company's 19th April 2024 RNS, it has received a notice
from RiverFort Global Opportunities PCC
Limited and YA II PN Ltd ("Investors") that they have
converted the 200,000,000 Equity Shares issued on 19th
April 2024 at an average price of approximately 0.0405 pence per
share. The Company has also issued the Investors a
further 152,796,721 Equity
Shares to repay a further £46,603 of the Loan, the principal
balance of which now stands today at £0.42 million of the £2
million gross first cash sum received.
The Investors' share transactions remain subject
to the orderly market, no short position and Investors voting in
favour of the Company obligations as previously announced on 28
June 2023.
Admission
Application has been made for this tranche of
Equity Shares, numbering 152,796,721
ordinary shares in total, to be admitted to trading on AIM
("Admission"). Admission is expected to take place at 8.00 a.m. on
or around 09 May 2024.
Following Admission, the total voting rights in
the Company will be 3,813,754,613
ordinary shares and Shareholders may use this figure as the
denominator by which they are required to notify their interest in,
or change to their interest in, the Company under the FCA's
Disclosure, Guidance and Transparency Rules.
For
further information, please contact:
UK
Oil & Gas plc
Stephen Sanderson / Allen D Howard /
Guzyal
Mukhametzhanova
Tel: 01483 941493
WH
Ireland Ltd (Nominated Adviser and Broker)
James Joyce / James Bavister / Andrew
de
Andrade
Tel: 020 7220 1666
Communications
Brian Alexander
Tel: 01483 941493
The information
contained within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulation
(EU) No. 596/2014, as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018. Upon
publication of this announcement, this information is now
considered to be in the public domain.