Business
Successful Placing to Raise £2m
Successful Placing to Raise £2m.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 5067T UK Oil & Gas Investments PLC 04 July 2018 \n\nUK Oil & Gas Investments PLC\n \n(\"UKOG\" or the \"Company\")\n \nSuccessful Placing to Raise £2m\n \nFurther to its announcement of 2 July 2018, UK Oil & Gas Investments PLC (London AIM: UKOG) is pleased to announce that it has raised further gross proceeds of £2 million via a placing of 100 million new ordinary shares at 2 pence per share. This represents an approximate 5% discount to the closing price on 3 July 2018. 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 10 July 2018.\n \nUse of Proceeds\n \nThis placing is intended for opportunistic investment to help deliver the Company's stated goal of consolidating and expanding its asset base in the Weald Basin. The placing represents an additional £2 million to the previously announced £10.5 million investment secured to deliver sufficient working capital for its core projects over the next 18 months. \n \nAdmission and Settlement\n \nApplication will be made for the admission to trading on AIM of 100,000,000 new Ordinary Shares (\"Admission\"). Admission is expected to occur on 10 July 2018. Following Admission, the Company will have 5,207,240,526 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company are therefore 5,207,240,526 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 Disclosure Guidance and Transparency Rules. The placing is conditional upon the terms of a placing agreement with W H Ireland and shares being admitted to trading on AIM.\n \n- Ends -\n \n\n\n\nFor further information, please contact:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nUK Oil & Gas Investments PLC\n\n\n\n\n\n\n\nStephen Sanderson / Kiran Morzaria\n\n\nTel: 01483 243450\n\n\n\n\n\n\n\n\n\n\n\n\nWH Ireland (Nominated Adviser and Broker)\n\n\n\n\n\n\n\nJames Joyce / James Sinclair-Ford\n\n\nTel: 020 7220 1666\n\n\n\n\n\n\n\n\n\n\n\n\nCenkos Securities PLC (Joint Broker)\n\n\n\n\n\n\n\nJoe Nally / Neil McDonald\n\n\nTel: 0207 397 8919\n\n\n\n\n\n\n\n\n\n\n\n\nPublic Relations\n\n\n\n\n\n\n\nBr...