Company Update

Angus Energy PLC

19 March 2026

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 19 March 2026

Angus Energy PLC

 ("Angus", the "Company" or together with its subsidiaries, the "Group")

(AIM:ANGS)

Update on Financial Restructuring and Suspension of Trading on AIM

Finance Update

The Company is pleased to announce that it has reached agreement on the key terms to restructure its debt obligations with its three principal creditor groups, namely Trafigura, the Overriding Royalty Interest ("ORRI") holders, and Forum Energy Services Ltd ("Forum"). This comprehensive restructuring, when completed, will represent a major milestone for the business, demonstrating strong stakeholder support and providing a clear, sustainable financial platform for the Company's next phase of development.

The parties will now move into the legally binding documentation phase, with the Company aiming to finalise and execute the necessary detailed agreements over the coming weeks. The Company will update the market and provide further details once definitive agreements have been signed and will be sending a circular to shareholders to approve the plans at that time.

The proposed terms, once approved, will materially strengthen the balance sheet, improve the Company's liquidity, and create a more sustainable long-term capital structure.

In the meantime, the Board continues to prudently manage working capital in close coordination with its lenders.

Suspension of Trading on AIM

Trading in the Company's shares on AIM will remain suspended pending the conclusion of its financial restructuring.

The Board remains fully committed to delivering a sustainable, value-driven strategy for the Company and looks forward to updating shareholders further as this transformative restructuring progresses.

Carlos Fernandes, Finance Director comments: "We are pleased to have reached agreement, in principle, on the key terms for this proposed restructuring. While further work remains to finalise the detailed documentation with the applicable parties, the progress to date reflects the constructive engagement of our key stakeholders and their continued support for the Company. We look forward to completing the documentation process in the coming weeks and continuing to focus on building long-term value for shareholders."

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For further information please visit www.angusenergy.co.uk.

Angus Energy Plc                                                                

Carlos Fernandes

Finance Director                                                                               Via Flagstaff

SP Angel Corporate Finance LLP (Nomad and Broker)     www.spangel.co.uk

Stuart Gledhill / Jen Clarke / Richard Hail Tel: [phone]

Flagstaff  PR/IR                                                                      [e-mail]

Tim Thompson / Fergus Mellon / Alison Alfrey   Tel: [phone]

About Angus Energy plc

Angus Energy plc is a UK AIM quoted independent oil and gas company. Angus is the leading onshore gas producer in the UK and has ambitious plans to grow onshore production and diversify internationally. Angus Energy has a 100% interest in the Saltfleetby Gas Field (PEDL005), majority owns and operates conventional oil production fields at Brockham (PL 235) and Lidsey (PL 241) and has a 25% interest in the Balcombe Licence (PEDL244). Angus Energy operates all fields in which it has an interest.  

 

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