Iona Energy gets bondholder consent for one-time waiver fee

By Tali Rackner

Norfolk, Va., May 7 - Iona Energy Inc. subsidiary Iona Energy Co. (UK) Ltd. said it received 94.23% of the votes represented at its May 6 meeting, approving the payment of a one-time waiver fee to bondholders constituting 0.1% of the face value of its bonds, according to a notice from bond trustee Norsk Tillitsmann ASA.

Payment will be made within 10 business days of the meeting to bondholders of record as of May 6.

Iona Energy is a Calgary, Alta.-based oil and gas exploration, development and production company focused on the United Kingdom's North Sea.

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