Wednesday 21, June 2017 by Nabilah Annuar

Dana Gas to conduct discussions with Sukukholders today

Dana Gas to conduct discussions with Sukukholders today.

An announcement on the Abu Dhabi Securities exchange confirms teleconference.

Dana Gas will conduct a teleconference with holders of its Mudarabah Sukuk today, Wednesday 21 June at 4 pm UAE time (2 pm EST, 1 pm UTC, 8 am Atlantic Time).

The purpose of the call is to communicate directly with the Company’s broad Sukukholder group, and provide proper context and additional information regarding the planned restructuring, including background on declaration of the current Sukuk’s unlawfulness, proposed solution for the way forward, and the steps that the Company has in the meantime had to take to protect its position and in the interests of all of its stakeholders. This invitation follows several approaches that Dana Gas has made to the recently-formed Ad Hoc Committee requesting a meeting or a call, all of which have regrettably been declined.

The Company continues to seek a fair and consensual restructuring, and is keen to engage openly with all holders of its Mudarabah Sukuk. Dial in numbers: UAE 800035702760, UK +44 2030432440 US + 1 8778874163 PIN code: 61046514#

It should be noted that there will be no question and answer session. The text of the statement will be uploaded onto the Dana Gas website.

Features & Analyses