Kerman & Co LLP advises UK Oil & Gas Investments PLC on successful fundraising
June 10, 2015
Kerman & Co’s capital markets team advised UK Oil & Gas Investments PLC (AIM: UKOG) on its recent placing of 266,666,667 new Ordinary Shares (the “Placing Shares”) at a price of 2.25 pence per share (the “Placing”). The Placing raised gross proceeds of £6million.
The proceeds of the placing will be used to supplement the Company’s existing cash balances and be used:
- To further the Company’s existing portfolio and in particular its interest in the Horse Hill licence area and other interests in the Weald Basin.
- For the potential investment into new oil and gas investments within the Company’s investment strategy; and
- For general corporate purposes.
The Placing was conducted by way of an accelerated book-building process with WH Ireland Limited acting as sole broker.