Share Price (RRE)

1732.7GBp -17.3
08:51 15/11/19

Latest Report

24 Sep

Latest Regulatory Release

29 Oct

Statement regarding Independent Oil and Gas plc

Published on: March 5, 2019

RockRose notes today’s announcement from IOG of its conditional fundraise subject to IOG shareholder approval. The Company also notes the expiry of the deadline (12.00 p.m. on 1 April 2019) given to London Oil & Gas Ltd (“LOG”) and London and Capital Finance plc’s (“LCF”) administrators (the “Administrators”) of RockRose’s revised firm offer to purchase all debt and related dilutive instruments (the “Firm IOG Debt Offer”).

The Firm IOG Debt Offer, on acceptance, would have resulted in £52.5 million being immediately available to the LCF mini bondholders, representing a 22.25% recovery against the original LCF £236 million mini bond proceeds, with the potential to recover more in the future including a cash bonus at first gas.

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