- Independent Oil and Gas said it had signed a £10m convertible loan facility with existing lender London Oil and Gas.

The facility was convertible into ordinary shares in the company at a conversion price of 19p, a 15% premium to their closing price on 20 February.

Loans drawn down under the facility carried a coupon of Libor plus 9%.

At 1:39pm: [LON:IOG] Independent Oil Gas PLC share price was +0.38p at 16.88p

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