Interoil Exploration's Update on Financial Reporting
Interoil Exploration and Production ASA (the "Company") has announced a significant change regarding its interim accounts for Q3 2025. Instead of publishing these accounts as scheduled, the Company is taking proactive measures to address financial reporting challenges.
Proposed Amendments to Bond Terms
In the coming weeks, the Company will work with Nordic Trustee AS to initiate a summons for a bondholders' written resolution. This resolution will pertain to essential amendments in the terms of the Company's senior secured callable bonds, specifically those identified by ISIN NO 001 0729908.
Details of the Proposed Changes
The proposed changes will include important adjustments to the financial reporting requirements, notably a waiver for the obligation detailed in Clause 13.2.1, paragraph (d) of the bond terms. This clause requires the publication of interim accounts, which the Company will not fulfill this quarter.
Full Proposal for Bondholders
Interoil is committed to presenting a comprehensive proposal to its bondholders regarding these amendments. The goal is to achieve a full resolution concerning the bond loan, ensuring that all stakeholders are adequately informed and involved in the process.
Upcoming Information for Stakeholders
Although the interim accounts will not be published as originally planned, the Company promises to keep its bondholders updated. Further details regarding the summons for the written resolution will be shared as they become available.
Commitment to Transparency
Interoil remains dedicated to maintaining transparency with its investors and stakeholders. By addressing the need for amendments and waivers, the Company aims to streamline its operations and financial reporting moving forward.
Frequently Asked Questions
What are the main changes announced by Interoil?
The main change is the decision not to publish Q3 2025 interim accounts as scheduled, along with proposed amendments to bond terms.
What is the reason for these amendments?
The amendments aim to adjust financial reporting requirements, facilitating a smoother operational process for the Company.
How will bondholders be informed?
The Company will distribute details regarding the summons for the written resolution to bondholders soon.
What does ISIN NO 001 0729908 refer to?
This ISIN identifies the Company's senior secured callable bonds, which are subject to the proposed amendments.
Who can I contact for more information?
For further inquiries, you can reach out to ir@interoil.no.