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The latest announcement is out from United Oil & Gas Plc ( (GB:UOG) ).
United Oil & Gas Plc has successfully completed an oversubscribed fundraising through a placing of new ordinary shares, raising gross proceeds of £0.7 million. This fundraising, managed via an accelerated bookbuild process, is set to enhance the company’s capital structure, allowing it to further its projects in Jamaica and the UK. The company plans to issue a total of 700,000,000 new ordinary shares, representing a significant portion of its issued share capital. The first tranche of shares is expected to be admitted for trading on AIM by 18 December 2024, with the second tranche following subject to shareholder approval.
More about United Oil & Gas Plc
United Oil & Gas Plc is a company operating in the oil and gas industry with a primary focus on high impact exploration assets in Jamaica and development assets in the UK.
YTD Price Performance: -80.0%
Average Trading Volume: 36,612,037
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £1.39M
See more insights into UOG stock on TipRanks’ Stock Analysis page.
