UK Oil & Gas Investments (GB:UKOG) has released an update.
UK Oil & Gas PLC has reinforced its Employee Benefit Trust (EBT) by subscribing for 62,087,925 new ordinary shares to maintain the trust’s shareholding at 10% of the company’s issued capital. This move, funded by a loan agreement with Altum Trustees Ltd, aims to facilitate future share awards to eligible employees and directors under the company’s Share Incentive Plan (SIP). The new shares are expected to start trading on AIM around 10 May 2024, bringing the total voting rights in the company to 3,875,842,538 ordinary shares.
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