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UK Oil & Gas Inv PLC - Conversion of Outstanding Loan Notes

RNS Number : 3129T
UK Oil & Gas Investments PLC
02 July 2018
 

UK Oil & Gas Investments PLC

("UKOG" or the "Company")

 

Conversion of Outstanding Loan Notes

UK Oil & Gas Investments PLC (London AIM: UKOG) is pleased to announce that it has agreed with Cuart Investments PCC Ltd and YA II PN Ltd ("Loan Investors") to convert the remaining £1.75 million loan note into equity.

 

Details of Loan Conversion

 

UKOG has agreed with the Loan Investors to convert the outstanding £1.75 million convertible loan with an aggregate par value £1.75 million. After today's conversion, the par values outstanding on the loan is zero.

 

The Company has, therefore, today allotted 151,975,684 new ordinary shares to the Loan Investors). Application will be made for these new ordinary shares to be admitted to trading on AIM and it is anticipated that trading in such shares will commence on or around 9 July 2018.

 

Following Admission, the Company's enlarged issued share capital will comprise 4,857,240,526  ordinary shares. The Company does not hold any shares in treasury. This figure of 4,857,240,526   ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

 

 

For further information, please contact:


UK Oil & Gas Investments PLC


Stephen Sanderson / Kiran Morzaria

Tel: 01483 243450



WH Ireland (Nominated Adviser and Broker)


James Joyce / James Sinclair-Ford

Tel: 020 7220 1666



Cenkos Securities PLC (Joint Broker)


Joe Nally / Neil McDonald

Tel: 0207 397 8919



Public Relations


Brian Alexander

Tel: 01483 243450

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: UK Oil & Gas PLC

Price: 0.21

Market: AIM
Market Cap: £23.03 m
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