Brief: Interoil Reduces Debt To Sellers

Interoil Exploration and Production ASA

26/06/2019 08:15

June 26 (Reuters) - Interoil Exploration and Production ASA
 IOX.OL :
    * REG-INTEROIL STRENGTHENS BALANCE SHEET, CONVERTS DEBT TO
EQUITY
    * HAS RESOLVED TO SETTLE USD 1,009,112 OF SUPPLIER DEBT BY
ISSUING
2,607,774 NEW SHARES AT NOK 3.305 PER SHARE AS PAYMENT TO FEDMUL
S.A.
    * 1,294,607 NEW SHARES WILL BE ISSUED TO SELLERS AS
COMPENSATION
    * WILL PAY PART OF PENDING DEBT AND ACCRUED INTERESTS FROM
ACQUISITION
    * TRANSACTION TRIGGERS UNDER PURCHASE AGREEMENT OF
ARGENTINIAN
ASSETS A FURTHER COMPENSATION TO SELLERS OF SUCH ASSETS THAT
WERE ACQUIRED BY INTEROIL IN APRIL THIS YEAR
    * DEBT TO SELLERS' IS REDUCED TO USD 1.3 MILLION

Source text for Eikon:  ID:nGNEb6JZkm 
Further company coverage:  IOX.OL 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))