REG - Angus Energy PLC - Company Update

Angus EnergyAnnouncement

Today 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260319:nRSS2161Xa&default-theme=true

RNS Number : 2161X  Angus Energy PLC  19 March 2026

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 19 March 2026

Angus Energy PLC

 ("Angus", the "Company" or together with its subsidiaries, the "Group")

(AIM:ANGS)

 

Update on Financial Restructuring and Suspension of Trading on AIM

 

Finance Update

 

The Company is pleased to announce that it has reached agreement on the key
terms to restructure its debt obligations with its three principal creditor
groups, namely Trafigura, the Overriding Royalty Interest ("ORRI") holders,
and Forum Energy Services Ltd ("Forum"). This comprehensive restructuring,
when completed, will represent a major milestone for the business,
demonstrating strong stakeholder support and providing a clear, sustainable
financial platform for the Company's next phase of development.

 

The parties will now move into the legally binding documentation phase, with
the Company aiming to finalise and execute the necessary detailed agreements
over the coming weeks. The Company will update the market and provide further
details once definitive agreements have been signed and will be sending a
circular to shareholders to approve the plans at that time.

 

The proposed terms, once approved, will materially strengthen the balance
sheet, improve the Company's liquidity, and create a more sustainable
long-term capital structure.

 

In the meantime, the Board continues to prudently manage working capital in
close coordination with its lenders.

 

Suspension of Trading on AIM

 

Trading in the Company's shares on AIM will remain suspended pending the
conclusion of its financial restructuring.

 

The Board remains fully committed to delivering a sustainable, value-driven
strategy for the Company and looks forward to updating shareholders further as
this transformative restructuring progresses.

 

Carlos Fernandes, Finance Director comments: "We are pleased to have reached
agreement, in principle, on the key terms for this proposed restructuring.
While further work remains to finalise the detailed documentation with the
applicable parties, the progress to date reflects the constructive engagement
of our key stakeholders and their continued support for the Company. We look
forward to completing the documentation process in the coming weeks and
continuing to focus on building long-term value for shareholders."

 

END

For further information please visit www.angusenergy.co.uk
(http://www.angusenergy.co.uk) .

Angus Energy Plc
 

 

Carlos Fernandes

Finance Director
                                     Via
Flagstaff

 

SP Angel Corporate Finance LLP (Nomad and Broker)     www.spangel.co.uk
(http://www.spangel.co.uk/)

 

Stuart Gledhill / Jen Clarke / Richard Hail Tel: +44 (0)20 3470 0470

 

Flagstaff  PR/IR
                             angus@flagstaffcomms.com
(mailto:angus@flagstaffcomms.com)

 

Tim Thompson / Fergus Mellon / Alison Alfrey   Tel: +44 (0) 207 129 1474

 

About Angus Energy plc

 

Angus Energy plc is a UK AIM quoted independent oil and gas company. Angus is
the leading onshore gas producer in the UK and has ambitious plans to grow
onshore production and diversify internationally. Angus Energy has a 100%
interest in the Saltfleetby Gas Field (PEDL005), majority owns and operates
conventional oil production fields at Brockham (PL 235) and Lidsey (PL 241)
and has a 25% interest in the Balcombe Licence (PEDL244). Angus Energy
operates all fields in which it has an interest.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUWOWRNKUOAAR



            Copyright 2019 Regulatory News Service, all rights reserved