/KASE, March 30, 15/ – MAX PETROLEUM PLC (London), whose shares are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following
information statement:
quote
Max Petroleum announces that, following the suspension of trading in its
ordinary shares on the AIM market of London Stock Exchange plc on 2 March 2015,
it has continued to discuss an appropriate debt restructuring with Sberbank and
an equity investment from AGR Energy. In addition to a debt restructuring and
equity investment, the Company also requires bridge financing of at least
US$6.5 million to ensure the Company is viable for the period until the
regulatory and other approvals can be in place to permit the debt restructuring
and equity investment, if agreed.
The Company has been notified that its operational bank accounts in Kazakhstan
will be suspended as a result of non-payment of sums owed to the Kazakh tax
authorities. In addition, export sales have been halted due to uncertainty over
the Company's ability to guarantee future payment for transport and other costs
necessary to ensure delivery of such sales.
unquote
The said information is available on KASE website in Russian at
http://www.kase.kz/files/emitters/GB_MXPT/gb_mxpt_reliz_200315.pdf
[2015-03-30]