Overview of the proposed transactions Private Placement Andes Energia Plc. (Andes) subscribes for 330,000,000 shares in Interoil at NOK 0.11 per share Raising a total of NOK 36.3 million in cash Andes will hold 51% of the…
About Andes Energia Andes is an oil and gas company focused on onshore South America with a market capitalisation of GBP 180 million. Andes is listed on the AIM London Stock Exchange and Buenos Aires Stock Exchange The Company has…
Andes as a shareholder will strengthen Interoil Through the transaction Interoil will become significantly stronger Increase cash position by USD 5 million through equity injection from Andes Andes will contribute to Interoil…
Indicative timeline and ownership Indicative timeline Ownership after the restructuring 29 December Call for Extraordinary General Meeting Bondholders (EGM) 10% Week of Conference call, Q&A for stakeholders 05 January 51%…
Background for restructuring need In April 2014, Interoil lost the arbitration case against Perupetro and thereby also the right to operate Blocks III and IV in Peru This resulted in unsustainably high leverage relative to…
All strategic alternatives have been explored In October 2014 Interoil was forced to accelerate preparations for the planned refinancing of the company Several strategic opportunities have been pursued, both on an asset and…
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