16th Feb 2023 10:26
Nostrum Oil & Gas PLC - exploration and production in pre-Caspian Basin - The stake held by ICU Holdings Ltd falls to 2.7% from 23.8%, due to dilution from a share issue. ICU holds 4.4 million voting rights. Previously, Nostrum said the stake held by Tengri Partners (Kazakhstan) LLP had fallen to 2.0% from 20.3%, for the same reason. Tengri holds 3.8 million voting rights. Also said the stake held by Dehus Dolmen Nominees fell to 1.8% from 16.2%. Tengri holds 3.8 million voting rights.
On Friday last week, Nostrum said 150.6 million new shares had been admitted to trading on London Stock Exchange. On Thursday, the company said it had completed the restructuring of its USD725 million 8.0% senior notes due July 2022, and USD400 million 7.0% senior notes due February 2025. The debt restructuring triggered a board revamp, announced on Tuesday this week. Atul Gupta stepped down as executive chair, along with other board members. Stephen Whyte took over as independent non-executive chair.
Current stock price: 28.00p, up 17% on Thursday morning in London
By Sophie Rose, Alliance News reporter
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