UK Oil & Gas Investments (GB:UKOG) has released an update.
UK Oil & Gas PLC (UKOG) has issued a new tranche of 200 million ordinary shares to RiverFort Global Opportunities PCC Limited and YA II PN Ltd to reduce the principal balance of a previously announced loan. The conversion of these shares at a variable price is expected to lower the £0.545 million remaining loan balance, with the share conversion being subject to certain market conditions. The new shares are set to be admitted for trading on the AIM market, potentially increasing the company’s total voting rights to 3,660,957,892 ordinary shares.
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