Igas Energy PLC Announcement re: press speculation (8066N)
October 31 2016 - 3:00AM
UK Regulatory
TIDMIGAS
RNS Number : 8066N
Igas Energy PLC
31 October 2016
31 October 2016
IGas Energy plc (AIM: IGAS)
("IGas" or the "Company")
Announcement re: press speculation
IGas Energy confirms, further to last week's announcement of
Wednesday 26 October and press reports over the weekend, that as it
seeks a capital structure appropriate for the business in the
current operating environment it continues to discuss a range of
options with a number of key stakeholders. Those include
discussions with bondholder Trans European Oil & Gas ("TEOG")
(whose largest shareholder is understood to be KKR) who has
proposed a sale of the company's conventional assets.
The board will continue discussions with its key stakeholders
concurrent with a number of strategic investors as it continues to
assess options which will allow the Company's capital structure to
be sustainable in the current oil price environment and enable the
Group to capitalise on value accretive opportunities.
Ends.
For further information please contact:
IGas Energy plc
Tel: +44 (0)20 7993 9899
Stephen Bowler, Chief Executive Officer
Julian Tedder, Chief Financial Officer
Ann-marie Wilkinson, Director of Corporate Affairs
Investec Bank plc (NOMAD and Joint Corporate Broker)
Tel: +44 (0)20 7597 4000
Sara Hale/Jeremy Ellis/George Price
Canaccord Genuity (Joint Corporate Broker)
Tel: +44 (0)20 7523 8000
Henry Fitzgerald-O'Connor
Vigo Communications
Tel: +44 (0)20 7830 9700
Patrick d'Ancona/Chris McMahon
This information is provided by RNS
The company news service from the London Stock Exchange
END
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