UK Oil & Gas Investments (GB:UKOG) has released an update.
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UK Oil & Gas PLC has made a significant move to reduce its debt by repaying £50,000 of its loan through the issuance of 238,095,238 new Equity Shares to investors RiverFort Global Opportunities PCC Limited and YA II PN Ltd, bringing the outstanding loan balance down to £0.26 million. The newly issued shares are set to be admitted to trading on the AIM market, which will subsequently increase the company’s total voting rights to 4,586,597,988 ordinary shares. This strategic financial maneuver is expected to enhance the company’s capital structure and provide a more stable platform for future growth.
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