For immediate release BCL
28 May 2014
UK Oil & Gas Investments Plc
("UKOG" or the "Company")
Equity Placement and Total Voting Rights
UKOG is pleased to announce that it has raised £700,000 gross proceeds through the issue of 233,333,333 new shares of 0.01p each in the Company ("Placing Shares") at a placing price of 0.30p per share to institutional and other investors.
Application 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 4 June 2014.
The Company will therefore have 1,086,730,176 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.
David Lenigas, the Company's Chairman commented:
"Since changing the board of the previously suspended Sarantel Group Plc in November 2013, the Company has until today raised a total £1.39 million. Most of these funds previously raised have been allocated to acquiring a 6% interest in Angus Energy and a 7.5% interest in Horse Hill Development Limited, the special purpose company set up to drill the 8,000 foot plus Horse Hill-1 well adjacent to Gatwick Airport over the coming months."
"The board have decided to raise a further £700,000 so as to continue with the Company's stated investment strategy and assess further conventional onshore oil and gas opportunities here in the UK."
Enquiries:
UK Oil & Gas Investments PLC |
Tel: 020 7440 0640 |
David Lenigas / Donald Strang |
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Beaumont Cornish (Nominated Adviser) |
Tel: 020 7628 3396 |
Roland Cornish / Michael Cornish / Emily Staples |
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XCAP Securities PLC (Corporate Broker) |
Tel: 020 7101 7070 |
David Lawman |
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Square 1 Consulting (Public Relations) |
Tel: 020 7929 5599 |
David Bick/Mark Longson |
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