UK: Hurricane Energy provides update on proposed financial restructuring

UK: Hurricane Energy provides update on proposed financial restructuring
14 May 2021
Further to the announcement made on 30 April 2021 regarding the proposed financial restructuring of the Group, the Company confirms that it today filed a claim form and draft explanatory statement at the High Court of Justice in London ahead of a convening hearing expected to be held virtually via video conference on 21 May 2021.
Purpose of the Convening Hearing
The purpose of the Convening Hearing is to seek directions for the convening and conduct of a virtual meeting of the holders of the Company's $230 million convertible bonds due 24 July 2022 for the purposes of considering, and if thought fit approving, the restructuring plan proposed under Part 26A of the Companies Act 2006.  The Restructuring Plan process was commenced, as outlined in the Previous Announcement, with the issue of the practice statement letter to Bondholders on 30 April 2021.  A copy of the practice statement letter has, since its issuance, been available, and continues to be available, on the Company's website at www.hurricaneenergy.com .

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