Brief: Jupiter Energy Reaches Deal For Restructure Of Existing Debt Held With All 4 Noteholders

Jupiter Energy

04/03/2022 01:13

March 4 (Reuters) - Jupiter Energy Ltd  JPR.AX :
    * REACHED AGREEMENT FOR A SIGNIFICANT RESTRUCTURE OF
EXISTING DEBT
HELD WITH ALL 4 OF ITS NOTEHOLDERS
    * TO PAY EACH NOTEHOLDER 20% OF THEIR TOTAL DEBT OUTSTANDING
IN
CASH AT SETTLEMENT DATE
    * UNDER TERMS, NOTEHOLDER TO CONVERT 30% OF THEIR TOTAL DEBT
OUTSTANDING TO NEW SHARES IN CO AT SETTLEMENT DATE
    * INTENDS TO RAISE A MINIMUM OF $A35M VIA ISSUE OF NEW
SHARES
    * INTENDS TO FINALISE ITS GAS UTILISATION PLAN DURING MARCH
2022
    * IF DEBT RESTRUCTURE SUCCESSFULLY, CO WILL HAVE SUFFICIENT
WORKING CAPITAL TO ACHIEVE 100% GAS UTILISATION ON ITS 3
OILFIELDS IN 2023

Source text for Eikon:  ID:nASX7mkns0 
Further company coverage:  JPR.AX 

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