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Igas – high noon in Oslo

By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 26 October 2016


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


At time of writing bondholders in AIM-listed over-indebted Igas Energy (IGAS) are meeting in Oslo, having been summoned by the company to consider proposals to waive certain bond covenants while a restructuring of the company’s capital is negotiated. Igas previously indicated that a bond covenant breach was anticipated to occur this very week. Will the bondholders play ball?


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