NOSTRUM OIL & GAS PLC announces continuing bond restructuring

25.07.22 16:55
/KASE, July 25, 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 July 25, 2022: 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, notes that the maturity date of its US$725 million 8.0% senior notes due 2022 (the "2022 Notes") is today, 25 July 2022. The 2022 Notes, along with the US$400 million 7.0% Senior Notes due February 2025 (together with the 2022 Notes, the "Existing Notes"), will each be restructured in accordance with the previously announced proposed restructuring (the "Restructuring"). The Company will implement the Restructuring as soon as practicable following receipt of all necessary authorisations and licences required to hold the scheme meeting in connection with the Restructuring. Due to the ongoing Restructuring, which includes the previously announced lock- up agreement and forbearance agreement entered into by certain holders of the Existing Notes, the Company does not intend to take any additional further action following the maturity of the 2022 Notes. The Company appreciates the support shown by its stakeholders and will provide further updates on the status of the Restructuring in due course. unquote The fill press release is available on KASE website: - – in Russian; - – in English. [2022-07-25]