Independent Oil & Gas
Business Description
Independent Oil & Gas (IOG) owns licenses to operate gas fields in the North Sea.
Bond Information
20 Mar 2023 at 103.8
20 Sep 2023 at 102.85
20 Mar 2024 at 100.5
* Current Yield and Yield to Maturity are on estimated return calculations and not guaranteed. All yields shown are gross of Taxation and our Service Fee.
Company Information
Important News
Partial Payment to Bondholders in consideration of the sale of the business. Paid at a rate of 11.143% of outstanding bonds.
Further to the announcement of 28 September 2023, Chad Griffin and Ian Corfield of FRP Advisory were appointed as Joint Administrators of IOG plc ("IOG", or "the Company"), (AIM: IOG.L) on 11 October 2023.
The Joint Administrators are now evaluating the Company's position and are engaged in discussions with its senior secured bondholders and other creditors to consider all available options, including a potential restructuring to protect the operating subsidiaries which are not in administration.
Intention to Appoint Administrators
Update on bondholder discussions
Proposed short-term Bond amendments
Update on Southwark drilling operations.
IOG announced that the Company successfully raised gross proceeds of £8.5 million through a placing and subscription. Full release here.
IOG announced a proposed placing and Subscription to raise gross proceeds of approximately £8.5 million through the issue of new Ordinary Shares of 1 pence each in the capital of the Company. Full release here.
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