/KASE, May 12, 2022/ – 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 May 11, 2022:
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 provides a further update on the ongoing restructuring of the
Group’s US$725 million 8.0% Senior Notes due July 2022 and US$400 million 7.0%
Senior Notes due February 2025, in each case issued by Nostrum Oil & Finance
B.V. (the "Notes").
Following the announcements made on 23 December 2021 in respect of the Lock-
Up Agreement dated 23 December 2021, and on 29 April 2022 regarding the
approval of the Restructuring by the Company’s shareholders in the General
Meeting, Nostrum is pleased to announce that it has today launched a scheme of
arrangement (the "Scheme") via the issuance of a practice statement letter (the
"Practice Statement Letter" or "PSL") addressed to, among others, the Scheme
Creditors (as defined in the PSL).
The Company is proposing the Scheme in order to implement the proposed
financial restructuring (the "Restructuring") of the Group in the manner
described and contemplated in the Lock-Up Agreement.
Further details regarding the Scheme and the Restructuring are contained in the
PSL and in the Lock-Up Agreement.
The complete press release is available on KASE website: