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REG - IOG PLC - Approval of short-term Bond amendments

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RNS Number : 5940D  IOG PLC  22 June 2023

22 June 2023

 

IOG plc

 

Approval of short-term Bond amendments

 

IOG plc ("IOG", or "the Company"), (AIM: IOG.L) confirms that bondholders
controlling 72.8% of the Voting Bonds (representing 100% of the votes casted)
have now voted in favour of the proposed Bond amendments as laid out in the
RNS of Friday 16(th) June, meaning these have now been formally approved. As
previously stated, the Company will continue to engage with its bondholders as
part of efforts to deliver value for its stakeholders.

 

Rupert Newall, CEO, commented:

 

"We appreciate the positive response of our bondholders to these short-term
amendments. This will help us in our strenuous ongoing efforts to stabilise
the business and deliver value for all concerned. We continue to work very
actively across the portfolio, not least on the Blythe H2 wireline
intervention, and will bring further updates when we have them."

 

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.

 

Enquiries:

 

 IOG plc                                            +44 (0) 20 7036 1400

 Rupert Newall (CEO)

 James Chance (Head of Capital Markets & ESG)

 finnCap Ltd                                        +44 (0) 20 7220 0500

 Christopher Raggett / Simon Hicks

 Peel Hunt LLP                                      +44 (0) 20 7418 8900

 Richard Crichton / David McKeown

 Vigo Consulting                                    +44 (0) 20 7390 0230

 Patrick d'Ancona / Finlay Thomson

About IOG:

 

IOG is a UK developer and producer of indigenous offshore gas. The Company
began producing gas in March 2022 via its offshore and onshore Saturn Banks
production infrastructure. In addition to its production assets, IOG operates
several UK Southern North Sea licences containing gas discoveries and
prospects which, subject to future investment decisions, may be commercialised
through the Saturn Banks infrastructure. All its assets are co-owned 50:50
with its joint venture partner CalEnergy Resources (UK) Limited. Further
details of its portfolio can be found at www.iog.co.uk (http://www.iog.co.uk)
.

 

A copy of the signed Written Resolution can be found here:
http://www.rns-pdf.londonstockexchange.com/rns/5940D_1-2023-6-22.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5940D_1-2023-6-22.pdf)

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