UK Oil & Gas Investments share price: Company increases interest in Horse Hill

on Mar 13, 2015
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UK Oil & Gas Investments (LON:UKOG) announced today that it had increased its direct interest from 28% to 30% in Horse Hill Developments Ltd, the 65% owners and operators of onshore exploration licences PEDL 137 and PEDL 246 (known as “Horse Hill”).

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**Highlights from the company’s statement:**
The additional 2% interest was acquired from Danadav Investments Limited for a consideration of £352,000. The consideration will be satisfied through the issue of 44,000,000 new ordinary shares (the “Shares”) of 0.01 pence each (“Placing Shares”) at 0.8 pence per share.

Application is being made for the Placing Shares, which will on issue rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM and such admission is expected to occur on or around 18 March 2015.

The Company will therefore have 1,693,063,509 Ordinary Shares in issue with voting rights and admitted to trading on AIM. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

In addition UKOG also has a 1.32% indirect interest in HHDL via its 6% interest in Angus Energy Limited.

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