Notice to the stock exchange
14 May 2024
IOG plc
The Joint Administrators of IOG Plc ("IOG", or the "Company"), (AIM: IOG.L) have issued a summons to the Bondholders of the Company for the approval of an offer for its business and assets, including the entire issued share capital of IOG North Sea Limited, IOG Infrastructure Limited and IOG UK Limited.
The price offered is £ 5,000,000. The offer will not provide a return to the shareholders of the Company.
Completion is subject to certain conditions, inter alia bondholders' approval and release of certain security, regulatory approvals, including consent from the North Sea Transition Authority', and to the extent required, other key third party consents.
The Company will make further disclosures if and when appropriate.
A copy of the summons for a written resolution received from the Bond Trustee can be viewed here: http://www.rns-pdf.londonstockexchange.com/rns/4197O_1-2024-5-14.pdf
Enquiries:
IOG plc (In Administration) +44(0)20 3005 4000
Simon Baggs
City Press
Rory Fletcher +44 (0)131 516 5654
About IOG:
IOG is a UK developer and producer of indigenous offshore gas. The Company began producing gas in March 2022 via its offshore and onshore Saturn Banks production infrastructure. In addition to its production assets, IOG operates several UK Southern North Sea licences containing gas discoveries and prospects which, subject to future investment decisions, may be commercialised through the Saturn Banks infrastructure. All its assets are co-owned 50:50 with its joint venture partner CalEnergy Resources (UK) Limited. Further details of its portfolio can be found at www.iog.co.uk.
This information is published in accordance with the requirements of the Oslo Børs Rule Book Part II 6.2.2.
This stock exchange release was published by Chad Griffin, Joint Administrator, IOG plc (in administration), on 14 May 2024 at 16.15.
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