Business
Restructuring, Sub-Division & Consolidation Update
Restructuring, Sub-Division & Consolidation Update.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION\n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \n \n \n \n \n \n \n \n London, 6 February 2023\n \n \n \n \n \n \n Restructuring, Sub-Division and Consolidation Update\n \n \n \n \n \n \n \n \n Nostrum Oil & Gas PLC (LSE: NOG) (\"Nostrum\" or the \"Company\"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, provides a further\n update to the proposed restructuring of the Group's US$725 million 8.0% Senior Notes due July 2022 and the US$400 million 7.0% Senior Notes due February 2025, in each case issued by Nostrum Oil & Gas Finance B.V. (the \"Restructuring\").\n \n \n \n \n \n At the Nostrum general meeting held on 29 April 2022, Nostrum shareholders approved, among other things, the sub-division of ordinary shares in the capital of Nostrum with a nominal price of 1 pence (\"Shares\") and a 10:1 consolidation of the Shares (the \"Sub-Division and Share Consolidation\") in connection with the Restructuring. The Sub-Division and Share Consolidation are to occur immediately after the allotment of the 1,505,633,046 new Shares (\"New Shares\") in accordance with the Restructuring.\n \n \n \n \n \n It is anticipated that the Restructuring will be effected on Thursday, 9 February 2023. Accordingly, the record date for the Sub-Division and Share Consolidation will be Nostrum shareholders on the register at close of business on 9 February 2023.\n \n \n \n \n \n \n \n The Sub-Division and Share Consolidation is expected to take place after the market closes on Thursday, 9 February 2023 and it is expected that admission and dealings in the consolidated Shares on the London Stock Exchange (LSE) will commence at 8.00 a.m. (GMT) on Friday, 10 February 2023.\n \n \n \n \n \n Immediately following the Sub-Division and Share Consolidation, the Company will have a total issued share capital of up to 169,381,599 Shares and 15,244,344,036 deferred shares. As part of the Share Consolidation process, a new ISIN in respect of the Shares will become effective from Share Conso...