UK Oil & Gas PLC Purchase of Horse Hill equipment completed (7689Z)
May 25 2021 - 9:27AM
UK Regulatory
TIDMUKOG
RNS Number : 7689Z
UK Oil & Gas PLC
25 May 2021
UK Oil & Gas PLC
("UKOG" or the "Company")
Purchase of Horse Hill equipment completed
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that, as per the announcement of 4 June 2020, the Company has
completed the final instalment due under the sale and purchase
agreement of the Horse Hill surface production equipment
("Equipment") from PW Well Test Ltd ("PW").
The Company acquired the Equipment from PW for GBP1.65 million.
The purchase was via three equal instalments of GBP550,000 as
follows:
An Initial instalment was made in July 2020 upon signature of
the asset purchase agreement via equal amounts of cash and UKOG
shares. The second instalment was made in February 2021 via the
issue of UKOG shares.
The final payment can be either wholly in cash, or wholly in
shares, or part cash/part shares, each at UKOG's sole discretion.
The final payment of GBP550,000 has been made to PW, via the issue
of 262,759,440 UKOG shares, at a 5-day VWAP of GBP 0.0021.
Share Admission and Settlement
Application will be made for the admission to trading on the AIM
market ("AIM") of London Stock Exchange plc ("LSE") of the shares
("Admission"). Admission is expected to occur on or around 1 June
2021. Following Admission, the Company will have 13,218,369,752
Ordinary Shares in issue. There are no shares held in treasury. The
total voting rights in the Company is therefore 13,218,369,752 and
Shareholders may use this figure as the denominator by which they
are required to notify their interest in, or change to their
interest in, the Company under the Disclosure Guidance and
Transparency Rules.
For further information, please contact:
UK Oil & Gas PLC
Stephen Sanderson / Kiran Morzaria Tel: 01483 941493
WH Ireland Ltd (Nominated Adviser
and Broker)
James Joyce / James Sinclair-Ford Tel: 020 7220 1666
Communications
Brian Alexander Tel: 01483 941493
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCPPUUPAUPGGPA
(END) Dow Jones Newswires
May 25, 2021 09:27 ET (13:27 GMT)
Uk Oil & Gas (LSE:UKOG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Uk Oil & Gas (LSE:UKOG)
Historical Stock Chart
From Apr 2023 to Apr 2024