IOG Iog Plc

TIDMIOG

RNS Number : 8121P

IOG PLC

11 October 2023

11 October 2023

IOG plc (in Administration)

Appointment of Administrators

Further to the announcement of 28 September 2023, Chad Griffin and Ian Corfield of FRP Advisory were appointed as Joint Administrators of IOG plc ("IOG", or "the Company"), (AIM: IOG.L) on 11 October 2023.

The Joint Administrators are now evaluating the Company's position and are engaged in discussions with its senior secured bondholders and other creditors to consider all available options, including a potential restructuring to protect the operating subsidiaries which are not in administration.

As a result of the Administration, Cavendish Capital Markets Limited and Peel Hunt LLP have informed the Company of their resignations from their roles as Nominated Adviser and broker respectively, with immediate effect. The Company's shares remain suspended from trading and pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month, the admission of the Company's shares to trading on AIM will be cancelled. The Company has no current intention of appointing a replacement Nominated Adviser.

Enquiries:

 
FRP Advisory                        iogplc@frpadvisory.com 
Chad Griffin / Ian Corfield 
 
Citypress                    rory.fletcher@citypress.co.uk 
 Rory Fletcher 
 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

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 rns@lseg.com 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

MSCBGBDGIXBDGXB

(END) Dow Jones Newswires

October 11, 2023 06:40 ET (10:40 GMT)

Iog (LSE:IOG)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024

Iog (LSE:IOG)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024