/KASE, December 24, 2021/ – NOSTRUM OIL & GAS PLC (United Kingdom), whose shares
are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE
with the following press release dated December 23, 2021:
quote
Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or the "Company" and together
with its subsidiaries, the "Group"), an independent oil and gas company engaging
in the production, development and exploration of oil and gas in the pre-Caspian
Basin, today announces the execution of a lock-up agreement (the "Lockup
Agreement") and terms of a restructuring agreed with holders of in excess of 54
per cent of the aggregate principal amount of the 8.0% Senior Notes due 2022 and
55 per cent of the aggregate principal amount of the 7.0% Senior Notes due 2025
in each case issued by Nostrum Oil & Gas Finance B.V. (together, the "Notes").
In addition, subsidiaries of ICU Holdings Limited ("ICU"), the Company’s
largest shareholder, has entered into the Lock-up Agreement in its capacity as
a shareholder and holder of the Notes.
As previously reported, the Company has been in discussions with an informal ad
hoc committee of holders of the Notes (the "AHG") in relation to a restructuring
of the Notes. The Company previously entered into two forbearance agreements
with the AHG, with the latest forbearance agreement scheduled to expire at
11.59 p.m. (London time) on 24 December 2021.
Under the terms of the Lock-up Agreement, the Company, ICU and the AHG have
agreed to implement a transaction which restructures the Notes (the
"Restructuring").
unquote
The complete press release is available on:
-
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_231221_1.pdf – in Russian;
-
https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_231221_eng_1.pdf – in
English.
[2021-12-24]