Kistos Holdings PLC Redemption of Kistos NL2 bonds (2568W)

TIDMKIST

RNS Number : 2568W

Kistos Holdings PLC

11 December 2023

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.

11(th) December 2023

Kistos Holdings plc

("Kistos" or "the Company")

Redemption of Kistos NL2 bonds

Kistos announces that on Friday 8(th) 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 EUR150,000,000 of bonds issued by Kistos NL2, EUR73,168,000 has already been repurchased by the Company.

The Company will redeem the outstanding EUR76,832,000 (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                    via Hawthorn Advisors 
  Andrew Austin, Executive Chairman 
 Panmure Gordon (NOMAD, Joint Broker)      Tel: [phone] 
  John Prior / James Sinclair-Ford 
 Berenberg (Joint Broker)                  Tel: [phone] 
  Matthew Armitt / Ciaran Walsh 
 Hawthorn Advisors (Public Relations       Tel: [phone] 
  Advisor) 
  Henry Lerwill / Simon Woods 
 Camarco (Public Relations Advisor)        Tel: [phone] 
  Billy Clegg 
 

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 CO emissions from its operated activities offshore of less than 0.01 kg/boe in 2022 (excluding necessary flaring during drilling campaigns).

https://www.kistosplc.com

- ENDS -

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEAFAEFEADFAA

(END) Dow Jones Newswires

December 11, 2023 02:00 ET (07:00 GMT)