Niko Resources Ltd. announces the resignation of its auditors, KPMG LLP . The Board of Directors of the Company has accepted the resignation and thanks KPMG for their work as auditor over the past 27 years. The principal reason for the resignation of its auditor is that in the opinion of the Board, the Company's financial condition does not warrant incurring the costs of auditing the Company's financial statements. As has [...]
Niko Resources Ltd. announces that in light of the COVID-19 public health situation, the Company intends to delay holding its annual general meeting of shareholders to a later date, but prior to January 22, 2021. The Company is relying on the temporary blanket relief provided by the Canadian Securities Administrators to postpone the filing of its executive compensation disclosure required under applicable securities laws [...]
As previously disclosed in the press release by Niko Resources Ltd. of January 14, 2020, pursuant to the terms of the Company’s Amended and Restated Facilities Agreement dated July 18, 2016 with its senior lenders , the Lenders had appointed a receiver over the shares of the Company’s indirect subsidiary, Niko Ltd. , and exercised their rights over the bank account of Niko NECO that the proceeds of the D6 [...]
Further to our prior press release of December 27, 2019, Niko Resources Ltd. announces the closing of the settlement agreement between the Company’s indirect subsidiary, Niko Ltd. , Reliance Industries Limited and BP Exploration Limited is expected to occur on January 15, 2020. Niko also announces that, pursuant to the terms of the Company’s Amended and Restated Facilities Agreement dated July 18, 2016 with [...]
Niko Resources Ltd. announces that an amendment to the production sharing contract for the D6 Block in India has been executed, reflecting the assignment of the 10 percent interest previously held by the Company’s indirect subsidiary, Niko Ltd. , to the remaining interest holders in the block, Reliance Industries Limited and BP Exploration Limited . Niko NECO had entered into a settlement agreement with Reliance and [...]
As previously disclosed by Niko Resources Ltd. in its press release of February 11, 2019, the Company’s common shares and convertible notes will be delisted from the Toronto Stock Exchange, effective at the close of market on March 13, 2019. The Company also announces that it has decided not to apply for a listing on another Canadian stock exchange. The delisting from the TSX does not affect the Company's applicable [...]
Niko Resources Ltd. reports its operating and financial results for the quarter ended December 31, 2018. The operating results are effective February 13, 2019. All amounts are in US dollars unless otherwise indicated and all amounts are reported using International Financial Reporting Standards unless otherwise indicated. LIQUIDITY AND CAPITAL RESOURCES D6 Block in India In the third quarter of fiscal 2019, a subsidiary [...]
Niko Resources Ltd. announces that the Toronto Stock Exchange has notified the Company that it has determined to delist the Company’s common shares and convertible notes effective at the close of market on March 13, 2019. These measures were taken due to the Company not meeting the continued listing requirements of the TSX. The Company is evaluating whether or not it will apply for a listing on another Canadian [...]
Further to its press releases of October 9, 2018, October 17, 2018, and October 29, 2018, Niko Resources Ltd. provides the following update. As previously announced, a subsidiary of the Company received a default notice from the operator of the D6 production sharing contract in India for non-payments of cash calls. Under the terms of the joint operating agreement between the participating interest holders in the D6 PSC [...]
Niko Resources Ltd. reports its operating and financial results for the quarter ended September 30, 2018. The operating results are effective November 13, 2018. All amounts are in US dollars unless otherwise indicated and all amounts are reported using International Financial Reporting Standards unless otherwise indicated. LIQUIDITY AND CAPITAL RESOURCES D6 Block in India To date, the Company has not been successful in [...]
Further to its press releases of October 9, 2018 and October 17, 2018, Niko Resources Ltd. provides the following update. As previously announced, under the terms of the Company’s Facilities Agreement with its senior lenders , the receipt on October 17, 2018 of a default notice from the operator of the D6 production sharing contract would result in an event of default under the Facilities Agreement unless the [...]
Niko Resources Ltd. announces that the Toronto Stock Exchange has notified the Company that it is reviewing the Company's eligibility for continued listing on the TSX of the securities of the Company pursuant to Part VII of the TSX Company Manual . Specifically, TSX will be reviewing the Company with respect to continued listing criteria related to i) the Company’s financial condition and/or operating results, and [...]
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