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G3 Exploration trading halted as bond holder issues petition

G3 added that its request for suspension is being considered by the FCA

G3 Exploration Ltd - G3 Exploration trading halted as bond holder issues petition
Nordic Trustees presented the petition in Grand Cayman

G3 Exploration Limited (LON:G3E) has suspended trading in its share following a request for liquidators to be appointed by its principal bondholder.

Nordic Trustees presented the petition in Grand Cayman, with a date for the hearing set for 11 December.

G3 added that its request for suspension is being considered by the FCA though at 2.30pm on Thursday trading in the China-focused gas group’s share had been halted at 20.4p.

In its latest half-year results, bonds and their associated accrued interest amounted to approximately US$117mln.

Quick facts: G3 Exploration Ltd

Price: 10 GBX

LSE:G3E
Market: LSE
Market Cap: £15.61 m
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Morning Report: G3 Exploration survives to fight another day

Headlines from the Proactive UK newsroom. China focused gas group G3 Exploration (LON:G3E) has received a stay of execution from the Grand Cayman Court. Joint Provisional Liquidators have been appointed and will work with the board and management to develop a re-structuring plan. Rockfire...

on 12/12/19

2 min read