Further to the announcement of 24 August 2017, Regency Mines Plc, the natural resource company with interests in oil and mineral exploration, announces that it has sold 4,535,704 shares in UK Oil and Gas Investments PLC (“UKOG”) for a consideration of £325,064.14.
The acquisition cost of the sold shares under the agreement announced on 10 July 2017 was £70,144.87.
Following the sale, Regency retains a position of 12,826,158 UKOG shares.
Company Chairman Andrew Bell comments:
“It was prudent for us to sell promptly some of our shares in UKOG, and in selling 26% of the holding we have recouped a sum greater than the cost of the whole holding, which was £268,502. The funds realised will enable us to fulfil our stated intention of increasing our holdings in Curzon Energy plc at IPO.”
