REG - Kistos Holdings PLC - Redemption of Kistos NL2 bonds

Kistos HoldingsAnnouncement

11/12/2023 07:15

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RNS Number : 2568W  Kistos Holdings PLC  11 December 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (UK MAR). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK
MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

11(th) December 2023

 

Kistos Holdings plc

 

("Kistos" or "the Company")

 

Redemption of Kistos NL2 bonds

 

Kistos announces that on Friday 8(th) December 2023 its Dutch subsidiary,
Kistos NL2 B.V., notified Nordic Trustee AS of the exercise of its Call Option
and redemption of all its outstanding bonds. Of the original €150,000,000 of
bonds issued by Kistos NL2, €73,168,000 has already been repurchased by the
Company.

 

The Company will redeem the outstanding €76,832,000 (plus accrued and unpaid
interest) under both of its Bond Issues at a redemption price equal to 102.5%
of the nominal amount for each redeemed bond. The redemption date will be 22
December 2023 and the record date will be 20 December 2023.

 

Andrew Austin, Executive Chairman of Kistos, said:

 

"The redemption of the Kistos NL2 B.V. bonds from our cash resources will
boost Kistos' profitability by reducing our net interest costs. By removing
certain covenants contained in the Bond Terms, it will also enhance our
financial flexibility."

 

For the purposes of UK MAR, the person responsible for arranging the release
of this announcement on behalf of Kistos is Andrew Austin, Executive Chairman.

 

 

Enquiries

 

 Kistos Holdings plc                           via Hawthorn Advisors

 Andrew Austin, Executive Chairman

 Panmure Gordon (NOMAD, Joint Broker)          Tel: 0207 886 2500

 John Prior / James Sinclair-Ford

 Berenberg (Joint Broker)                      Tel: 0203 207 7800

 Matthew Armitt / Ciaran Walsh

 Hawthorn Advisors (Public Relations Advisor)  Tel: 0203 745 4960

 Henry Lerwill / Simon Woods

 Camarco (Public Relations Advisor)            Tel: 0203 757 4983

 Billy Clegg

 

 

Notes to editors

 

Kistos plc was established to acquire and manage companies in the energy
sector engaging in the energy transition trend. The Company has undertaken a
series of transactions including the acquisition of a portfolio of highly cash
generative natural gas production assets in the Netherlands from Tulip Oil
Netherlands B.V. in 2021. This was followed in July 2022, with the acquisition
of a 20% interest in the Greater Laggan Area (GLA) from TotalEnergies, which
includes four producing gas fields and a development project. In May 2023,
Kistos completed its third acquisition, acquiring the total share capital of
Mime Petroleum and its Norwegian Continental Shelf Assets. These comprise a
10% stake in the Balder joint venture spanning Balder and Ringhorne oil
fields.

 

Kistos is a low carbon intensity gas producer with Estimated Scope 1 CO₂
emissions from its operated activities offshore of less than 0.01 kg/boe in
2022 (excluding necessary flaring during drilling campaigns).

 

https://www.kistosplc.com (https://www.kistosplc.com)

 

- ENDS -

 

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