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Highlights
- Retail Offer success: Raised £55,537 through 222.1 million new shares at 0.025 pence per share.
- Separate from Placing: The Retail Offer operates independently of the Placing announced on November 19, 2024.
- Trading to commence: Retail Offer Shares expected to begin trading on AIM on November 27, 2024.
UK Oil and Gas PLC (LSE:UKOG) announced the successful completion of its Retail Offer, raising £55,537 before expenses. This was achieved through the issuance of 222,148,000 new ordinary shares priced at 0.025 pence per share.
Retail Offer Details
The Retail Offer, launched via CMC CapX, was aimed at providing existing retail shareholders an opportunity to participate in the company's fundraising initiatives. It is independent of the Placing announced on November 19, 2024.
The Retail Offer is subject to specific conditions, including the successful completion of the Placing and the admission of the new shares to trading on AIM.
Admission and Trading Update
UK Oil and Gas has confirmed that an application for the admission of the Retail Offer Shares to AIM has been submitted. Trading is expected to commence at 8:00 a.m. on November 27, 2024.
Upon admission, the total voting rights in the company will increase to 13,362,909,833. This figure will serve as the reference denominator for shareholders to report any changes in their holdings, in line with the Disclosure Guidance and Transparency Rules.
