UK Oil & Gas plc
Key information
Key information
Sector
Oil, Gas and Coal
Website
Close date
Delivery
Placing price
Last price
Discount
Amount raised
0.015p
0.021 p
28 %
£500,000
Use of proceeds
The Placing's proceeds will firstly be employed to repay in full the balance of the convertible funding facility with RiverFort Global Opportunities PCC Limited and YA II PN Ltd as per the Company's RNS of 21st June 2024, and as originally announced on 28th June 2023. The remaining funds will be used directly to further the Company's material hydrogen storage projects by enabling the completion of necessary internal and external technical studies and reports required as part of an application for government Revenue Support in a first allocation round, currently scheduled to commence in Q3 2024 and complete by year end (see RNS 29th May and 27th June 2024). The funds will also permit the Company to fully prepare and engage with further prospective strategic partners to seek, as a minimum, Letters of Support (" LOS") along the lines of those recently furnished by Sumitomo and SGN, such LOS being a necessary requirement for any successful allocation award (see RNS 29th May and 27th June 2024).
Legal information
- Legal Documents
- Please read our Risk Warning
Important notices
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Please read our Risk Warning before making any investment decisions.
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