UK Oil & Gas Investments (GB:UKOG) has released an update.
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UK Oil & Gas PLC (UKOG) has recently taken a step towards financial restructuring by repaying £50,000 of a loan through the issuance of 247,524,752 new Equity Shares to its investors, RiverFort Global Opportunities and YA II PN Ltd. This repayment reduces the outstanding principal balance to £0.21 million from the initial £2 million. The new shares are expected to commence trading on the AIM market around 27 June 2024, which will bring the total voting rights in the company to 4,834,122,740 shares.
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