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Hurricane Energy PLC - Surrey-based oil and gas producer in fields offshore west of Shetland - Repays its outstanding $78.5 million 7.5% convertible bonds and a further $1.5 million of accrued interest by the maturity date of July 24. Says the repayment leaves it debt free, with ‘significant’ cash on hand.
The bonds will be delisted from the International Stock Exchange and cancelled.
‘The repayment of the convertible bonds is an important and key milestone for Hurricane as we move into a new phase for the company, focusing on building a long-term future for the business and creating additional value for our shareholders,’ Chief Executive Antony Maris says.
Current stock price: 9.09 pence, up 25% on Monday
12-month change: up sharply from 3.03p
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