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UAE's Dana Gas outlines broad terms for Sukuk discussions

19 June 2017

Sharjah, UAE - Dana Gas PJSC (the “Company”), the Middle East’s largest regional independent natural gas company, today invites Holders of its Mudarabah Sukuk to a call on 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 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.

For dial in details please contact Dana Gas investor relations at ir@danagas.com.  

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Please note that there will not be a question and answer session.

-Ends-

About Dana Gas
Dana Gas is the Middle East's first and largest regional private sector natural gas Company established in December 2005 with a public listing on the Abu Dhabi Securities Exchange (ADX). It has exploration and production assets in Egypt, Kurdistan Region of Iraq (KRI) and UAE, with 2P reserves exceeding one billion boe and average production of 67,050 boed in 2016. With sizeable assets in Egypt, KRI and the UAE, and further plans for expansion, Dana Gas is playing an important role in the rapidly growing natural gas sector of the Middle East, North Africa and South Asia (MENASA) region. Visit:  www.danagas.com  

© Press Release 2017

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