UK Oil & Gas Investments (GB:UKOG) has released an update.
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.
For further insights into GB:UKOG stock, check out TipRanks’ Stock Analysis page.
