Hurricane Energy PLC Results of Bondholder Plan Meeting (6739B)
June 11 2021 - 7:09AM
UK Regulatory
TIDMHUR
RNS Number : 6739B
Hurricane Energy PLC
11 June 2021
11 June 2021
Hurricane Energy plc
("Hurricane", the "Company" or the "Group")
Results of Bondholder Plan Meeting
Pursuant to an order made by the High Court of Justice of
England and Wales (the Court) dated 21 May 2021 (the Order), and
further to the announcement made on 24 May 2021 giving notice of
the meeting of bondholders of the Company (the Bondholders) at
11:00 a.m. today (the Bondholder Meeting), for the purpose of
considering and, if thought fit, approving (with or without
modification) the restructuring plan proposed by the Company under
Part 26A of the Companies Act 2006 (the Restructuring Plan) as set
out in Appendix F of the explanatory statement dated 24 May 2021 in
relation to the Restructuring Plan (the Explanatory Statement), the
Company announces the results of the Bondholder Meeting.
Bondholder Meeting
The Bondholder Meeting was convened at 11:00 a.m. today
virtually via video conference in accordance with the Order.
The resolution to approve the Restructuring Plan as set out in
Appendix F of the Explanatory Statement was put to the Bondholders
and was duly passed on a poll.
Bondholders present and voting represented 84.89% of the total
amount outstanding (Plan Claims of USD 197,070,375 present and
voting out of USD 232,156,250 Plan Claims outstanding in
total).
The number of votes lodged for and against the resolution
proposed is set out below. No votes were withheld.
Votes for: 197,070,375 (100%)
Votes against: Nil (0%)
Further information
As set out in the Order, the sanction hearing of the Court to
sanction the Restructuring Plan is due to commence on 21 June 2021,
at a time to be confirmed.
If the Restructuring Plan is not sanctioned by the Court, the
Restructuring will not be capable of being implemented. In that
scenario, it is likely that there would be a controlled wind-down
of the Group's operations followed by an insolvent liquidation of
the Company.
-ends-
Contacts:
Hurricane Energy plc
Antony Maris, Chief Executive Officer
Philip Corbett, Head of Investor Relations +44 (0)1483 862820
Stifel Nicolaus Europe Limited
Nominated Adviser & Joint Corporate Broker
Callum Stewart +44 (0)20 7710 7600
Investec Bank plc
Joint Corporate Broker
Chris Sim / Rahul Sharma +44 (0)20 7597 5970
Vigo Consulting
Public Relations
Patrick d'Ancona / Ben Simons
hurricane@vigoconsulting.com +44 (0)20 7390 0230
About Hurricane
Hurricane has a 100% interest in and operates the Lancaster
field, the UK's first field to produce from a fractured basement
reservoir.
Hurricane also has a 50% interest in the Greater Warwick Area
licence, which contains the Lincoln and Warwick assets.
Visit Hurricane's website at www.hurricaneenergy.com
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END
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