/KASE, July 4, 2022/ – NOSTRUM OIL & GAS PLC (United Kingdom), whose
shares are listed on the official list of Kazakhstan Stock Exchange (KASE),
provided KASE with a press release dated July 1, 2022, which reads as follows:
beginning of quote
Nostrum Oil & Gas PLC Limited (LSE ticker: NOG) ("Nostrum" or the "Company",
together with its subsidiaries, the "Group"), an independent oil and gas
exploration and development company operating in the Pre-Caspian Basin, today
discloses an update on the proposed restructuring (the "Restructuring") of the
US$725 million Senior Notes (the "Restructuring"). The Company is currently
disclosing details of the proposed restructuring (the "Restructuring") of the
US$725m Senior Notes due July 2022 at 8.0% per annum and the US$400m Senior
Notes due July 2022. The US$400 million 7.0% Senior Notes due February 2025
issued by Nostrum Oil & Finance B.V. (the "Issued Bonds").
As previously disclosed, the Restructuring was subject to the consent of the
Ministry of Energy of the Republic of Kazakhstan to (i) the issue of new shares
and warrants (in order to partially redeem the Outstanding Notes) and (ii) a
waiver by the Republic of Kazakhstan of its pre-emptive right to acquire them
(the "Ministry of Energy Consent").
The consent of the Ministry of Energy was obtained today, which is the main
requirement from the regulatory authorities of the Republic of Kazakhstan for
the completion of the Restructuring.
The Company appreciates the support of its stakeholders and will continue to
report on the progress of the Restructuring in due course.
end of quote
The full version of the press release is available on KASE website: