Business
Issue of Equity and Total Voting Rights
Issue of Equity and Total Voting Rights.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 2924N UK Oil & Gas Investments PLC 25 July 2014 \n\nFor immediate release \n25 July 2014\nUK Oil & Gas Investments Plc\n(\"UKOG\" or the \"Company\")\nEquity Placement and Total Voting Rights\nThe Board of UKOG is pleased to announce that the Company has raised £2,000,000 before expenses by way of a Company arranged placing of 200,000,000 new ordinary shares of 0.01p each in the Company (\"Placing Shares\") at a placing price of 1 pence per Placing Share to institutional and other investors (\"Placing\"). The proceeds of the Placing will be used to make further investments in accordance with the Company's investing policy and provide further working capital. As announced yesterday, UKOG has conditionally agreed to acquire Northern Petroleum Plc's UK production and exploration oil and gas interests for a total consideration of £1.5 million. Following completion of the Placing the Company will no longer elect to issue the Consideration Shares but will satisfy the consideration wholly in cash.\nApplication is being made for the Placing Shares, which will on issue rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM and such admission is expected to occur on or around 1 August 2014.\nThe Company will therefore have 1,293,230,175 Ordinary Shares in issue with voting rights and admitted to trading on AIM. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules. \nDavid Lenigas, the Company's Chairman commented:\n\"The Placing significantly enhances the Company's balance sheet and enables the Company to continue to pursue further investments in the conventional onshore and offshore oil and gas in the UK.\"\nEnquiries:\n \n\n\n\n\nUK Oil & Gas Investments PLC\n\n\nTel: 020 7440 0640\n\n\n\n\nDavid Lenigas / Donald Strang\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nBeaumont Cornish (Nominated Adviser)\n\n\nTel: 020 7628 3396\n\n\n\n\nRoland Cornish / Michael Cornish / Emily Staples\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nXCAP Securities PLC (Corporate Broker)\n\n\nTel: 020 7101 7070\n\n\n\n\nD...