Petropavlovsk PLC Approval of written resolution (5715D)
27 Junio 2019 - 1:01AM
UK Regulatory
TIDMPOG
RNS Number : 5715D
Petropavlovsk PLC
27 June 2019
ANNOUNCEMENT OF APPROVAL OF WRITTEN RESOLUTION
PETROPAVLOVSK 2010 LIMITED
(incorporated with limited liability in Jersey with registered
number 104830)
(the "Issuer")
in respect of its outstanding
US$100,000,000 9 per cent. Guaranteed Convertible Bonds due 2020
(the "Bonds") guaranteed by Petropavlovsk PLC (the "Guarantor")
ISIN: XS1201840326 Common Code: 120184032
------------------- -----------------------
The Issuer hereby gives notice to holders of the outstanding
Bonds (the "Bondholders") that the written resolution (the "Written
Resolution") set out in the Notice of Written Resolution dated 19
June 2019 has been duly approved by persons shown in the records of
Euroclear Bank SA/NV and/or Clearstream Banking S.A. as the holders
of not less than 75 per cent. in aggregate outstanding principal
amount of the Bonds and was signed by BT Globenet Nominees Limited,
as registered holder of the Bonds, on 27 June 2019.
The Written Resolution has taken effect as an Extraordinary
Resolution (as defined in the trust deed constituting the Bonds) of
the Bondholders and the modifications to the terms and conditions
of the Bonds set out in the Written Resolution have been
implemented by way of a supplemental trust deed dated 27 June 2019
between the Issuer, the Guarantor and Link Corporate Trustees (UK)
Limited (formerly Capita Trust Company Limited).
It is the current intention of the Issuer to exercise its option
to redeem the outstanding Bonds under Condition 9(b) (Redemption at
the Option of the Issuer) of the Bonds following settlement of the
invitation to repurchase any and all of the outstanding Bonds (the
"Repurchase") and the related issue of new U.S.$125,000,000 8.25
per cent. guaranteed convertible bonds due 2024, which is scheduled
to occur on 3 July 2019. The Issuer currently intends to redeem
such Bonds in accordance with their terms and to pay to each
Bondholder the amount of U.S.$1,080 per U.S.$1,000 in outstanding
principal amount of such Bonds, being equal to the price payable to
Bondholders who validly tendered their Bonds for purchase pursuant
to the Repurchase, plus accrued interest.
This notice relates to the disclosure of information that
qualified, or may have qualified, as inside information within the
meaning of Article 7(1) of the EU Market Abuse Regulation.
Any questions regarding the Written Resolution may be directed
to the Tabulation Agent at the following address:
Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
By email: petropavlovsk@lucid-is.com
Attention: David Shilson
The Trustee is:
Link Corporate Trustees (UK) Limited
6th Floor
125 Wood Street
London
EC2V 7AN
This Notice is given by:
Petropavlosk 2010 Limited
13-14 Esplanade
St Helier
Jersey JE1 1BD
Channel Islands
27 June 2019
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCPGUBAQUPBPUQ
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