UKOG Announces Open Offer of up to 2,643,429,529 Open Offer Shares at £0.0018 per share

Source: www.gulfoilandgas.com 7/9/2021, Location: Europe

UK Oil & Gas PLC is pleased to announce that as per its 5th July announcement, it proposes to raise up to £4.7m (before expenses) via an Open Offer of up to 2,643,429,529 Open Offer Shares at £0.0018 per New Ordinary Share, the same price per share as its placing of 2nd July 2021. Under the Open Offer, the Company intends to provide all Qualifying Shareholders (other than, subject to certain exceptions, Restricted Shareholders and US persons) with the opportunity to subscribe for up to 1 Open Offer Share for every 5 Existing Ordinary Shares held by them.

The total amount that the Company could raise under the Open Offer is £4.7 million (before expenses), assuming all the Open Offer Entitlements are taken up.

Further details of the Open Offer are set out in the extract from the Letter from the Chairman of the Company below, together with the expected timetable.


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