UK Oil & Gas PLC Acquisition of Further Interest in PEDL143 (8460A)
June 03 2019 - 2:00AM
UK Regulatory
TIDMUKOG
RNS Number : 8460A
UK Oil & Gas PLC
03 June 2019
UK Oil & Gas PLC
("UKOG" or the "Company")
Completion of Acquisition of Further Interest in PEDL143
Exploration Licence
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that it has completed the previously announced acquisition of the
interests of both Europa Oil & Gas Limited ("Europa") and Union
Jack Oil plc ("Union Jack") in the highly prospective PEDL143
exploration licence. This acquisition of their respective interests
of 20% and 7.5% interests means UKOG now holds a majority operated
67.5% interest in the Licence.
Transaction Summary
The total considerations of GBP300,000 and GBP112,500 to Europa
and Union Jack, respectively, will be satisfied through the issue
of an aggregate total of 35,683,391 new ordinary shares in UKOG
("Consideration Shares"), with 25,951,557 and 9,731,834
Consideration Shares issued to Europa and Union Jack respectively,
as outlined in the announcement of 16 April 2019.
An application has been made for the Consideration Shares to be
admitted to trading on AIM, which are anticipated to be available
for trading on or around 7 June 2019 ("Admission").
Following Admission, the Company's enlarged issued share capital
will comprise 6,083,289,907 ordinary shares. The Company holds no
shares in treasury. The enlarged ordinary share capital figure 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.
For further information, please contact:
UKOG
Stephen Sanderson / Kiran Morzaria Tel: 01483 900582
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
Novum Securities (Joint Broker)
John Bellis
Tel: 020 7399 9400
Public Relations
Brian Alexander / David Bick Tel: 01483 900582
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
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 rns@lseg.com or visit www.rns.com.
END
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