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.
11th December 2023
Kistos Holdings plc
("Kistos" or "the Company")
Redemption of Kistos NL2 bonds
Kistos announces that on Friday 8th 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 Andrew Austin, Executive Chairman |
via Hawthorn Advisors |
|
Panmure Gordon (NOMAD, Joint Broker) John Prior / James Sinclair-Ford |
Tel: 0207 886 2500 |
|
Berenberg (Joint Broker) Matthew Armitt / Ciaran Walsh |
Tel: 0203 207 7800 |
|
Hawthorn Advisors (Public Relations Advisor) Henry Lerwill / Simon Woods |
Tel: 0203 745 4960 |
|
Camarco (Public Relations Advisor) Billy Clegg |
Tel: 0203 757 4983 |
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).
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