REG - IOG PLC - Appointment of Administrators

IogAnnouncement

11/10/2023 11:45

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RNS Number : 8121P  IOG PLC  11 October 2023

11 October 2023

 

IOG plc (in Administration)

 

Appointment of Administrators

 

Further to the announcement of 28 September 2023, Chad Griffin and Ian
Corfield of FRP Advisory were appointed as Joint Administrators of IOG plc
("IOG", or "the Company"), (AIM: IOG.L) on 11 October 2023.

 

The Joint Administrators are now evaluating the Company's position and are
engaged in discussions with its senior secured bondholders and other creditors
to consider all available options, including a potential restructuring to
protect the operating subsidiaries which are not in administration.

 

As a result of the Administration, Cavendish Capital Markets Limited and Peel
Hunt LLP have informed the Company of their resignations from their roles as
Nominated Adviser and broker respectively, with immediate effect. The
Company's shares remain suspended from trading and pursuant to AIM Rule 1, if
a replacement Nominated Adviser is not appointed within one month, the
admission of the Company's shares to trading on AIM will be cancelled. The
Company has no current intention of appointing a replacement Nominated
Adviser.

 

Enquiries:

 

 FRP Advisory                 iogplc@frpadvisory.com (mailto:iogplc@frpadvisory.com)
 Chad Griffin / Ian Corfield

 Citypress                    rory.fletcher@citypress.co.uk (mailto:rory.fletcher@citypress.co.uk)

 Rory Fletcher

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

 

 

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