TIDMENQ
RNS Number : 4753G
EnQuest PLC
30 March 2022
The information contained herein may only be released, published
or distributed in the United Kingdom, the Isle of Man, Jersey and
the Bailiwick of Guernsey in accordance with applicable regulatory
requirements. The information contained herein is not for release,
publication or distribution in or into the United States,
Australia, Canada, Japan, South Africa, the Republic of Ireland or
in any other jurisdiction where it is unlawful to distribute this
document.
This announcement is a financial promotion for the purposes of
section 21(2)(b) of the Financial Services and Markets Act 2000
("FSMA") and is not intended to be investment advice.
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014, AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").
SEE "IMPORTANT INFORMATION" BELOW
30 March 2022
ENQUEST PLC
PUBLICATION OF PROSPECTUS AND LAUNCH OF STERLING DENOMINATED
9.00%
GUARANTEED RETAIL ELIGIBLE NOTES DUE 2027
EnQuest PLC (the "Company"), a holding company involved in a
full range of upstream activities, with a portfolio of production
and development assets, announces today a proposed issue of
Sterling denominated 9.00% Fixed Rate Notes due 27 October 2027 to
be issued by the Company (the "Notes") and guaranteed on a joint
and several, subordinated basis by EnQuest Britain Limited, EnQuest
ENS Limited, EnQuest Global Limited, EnQuest Heather Limited,
EnQuest Heather Leasing Limited, EnQuest NWO Limited, EnQuest
Production Limited, EnQuest Petroleum Production Malaysia Ltd, NSIP
(GKA) Limited, EnQuest Marketing and Trading Limited, EnQuest
Petroleum Developments Malaysia Sdn Bhd, EnQuest Advance Limited,
EnQuest Advance Holdings Limited, EQ Petroleum Sabah Limited and
North Sea (Golden Eagle) Resources Ltd (the "Guarantors"), pursuant
to an exchange offer memorandum and prospectus dated 29 March 2022
(the "Exchange Offer Memorandum and Prospectus"). The Notes are
available to retail investors in the United Kingdom, the Bailiwick
of Guernsey, the Isle of Man and Jersey, and are being issued by
the Company for general corporate purposes.
The Notes will bear interest at a fixed rate of 9.00% per annum,
payable semi-annually in arrear in two equal instalments of
GBP0.045 per GBP1 in principal amount of the Notes on 27 April and
27 October in each year, with the first such payment being made on
27 October 2022, and are expected to be redeemed (subject to the
Company's right to redeem the Notes prior to maturity in accordance
with their terms and conditions) at 100% of their principal value
on the maturity date, which is expected to fall on 27 October
2027.
Peel Hunt LLP and WH Ireland Limited are acting as Joint Lead
Managers in respect of the offering of the Notes.
The initial authorised offeror is Hargreaves Lansdown Asset
Management Limited.
The Notes have a minimum subscription amount of GBP2,000 and are
available in multiples of GBP1 thereafter.
The offer period is now open and is expected to close at 4.00
p.m. (London time) on 20 April 2022. The Company retains the right
to close the offer early, in conjunction with the Joint Lead
Managers. The Notes are due to be issued on 27 April 2022.
The Notes are expected to be listed on the Financial Conduct
Authority's Official List and admitted to trading on the London
Stock Exchange's main market and through the electronic Order Book
for Retail Bonds (ORB) market. Holders of Notes should, in most
normal circumstances, be able to sell their holdings during normal
trading hours (subject to market conditions) on the open market
through their stockbroker.
A copy of the Exchange Offer Memorandum and Prospectus for the
Notes has been submitted to the National Storage Mechanism and will
shortly be available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
-S -
For further information, please see EnQuest PLC's website:
https://www.enquest.com/investors/corporate-actions/retail-bond
For enquiries, please contact:
EnQuest PLC
5th Floor, Cunard House
15 Regent Street
London SW1Y 4LR
E: InvestorRelations@EnQuest.com
T: +44 (0) 20 7925 4900
Peel Hunt LLP
100 Liverpool Street
London EC2M 2AT
E: enquest@peelhunt.com
T: +44 (0) 207 418 8900
WH Ireland Limited
24 Martin Lane
London EC4R 0DR
E: dcm@whirelandcm.com
T: +44 (0) 20 7220 1666
Note to Editors:
The Company has, by way of a separate announcement, today
separately invited holders of its outstanding Sterling denominated
7% Extendable PIK Toggle Notes due 15 February 2022, as extended to
15 October 2023 (ISIN: XS0880578728) (the "Existing Notes"), to
offer those notes in exchange for Notes to be issued by the Company
which will form a single series with the Notes that are the subject
of this announcement.
IMPORTANT INFORMATION
This announcement is released by EnQuest PLC and contains
information in respect of the Existing Notes that qualified or may
have qualified as inside information for the purposes of Article 7
of UK MAR and Article 2 of the binding technical standards
published by the Financial Conduct Authority in relation to UK MAR
as regards Commission Implementing Regulation (EU) 2016/1055. For
the purposes of UK MAR, this announcement is made by Stefan
Ricketts, Company Secretary for EnQuest PLC.
The Exchange Offer Memorandum and Prospectus is available for
viewing at:
https://www.enquest.com/investors/corporate-actions/retail-bond
.
Neither the content of any website referred to in this
announcement nor the content of any website accessible from
hyperlinks is incorporated into, or forms part of, this
announcement.
Please note that the information contained in the Exchange Offer
Memorandum and Prospectus may be addressed to and/or targeted at
persons who are residents of particular countries (specified in the
Exchange Offer Memorandum and Prospectus ) only and is not intended
for use, and should not be relied upon, by any person outside these
countries and/or to whom the offer contained in the Exchange Offer
Memorandum and Prospectus is not addressed. Prior to relying on the
information contained in the Exchange Offer Memorandum and
Prospectus you must ascertain from the Exchange Offer Memorandum
and Prospectus whether or not you are part of the intended
addressees of the information contained therein.
There is a risk that an investor in the Notes could get back
less than their initial investment or lose all their initial
investment, including if they sell their Notes at a price lower
than that which they paid for them, or if EnQuest PLC and/or any of
the Guarantors go out of business or becomes insolvent before the
maturity date of the Notes.
The distribution of this announcement and other information in
connection with any offer of securities and/or the solicitation of
offers for securities in certain jurisdictions may be restricted by
law and persons who come into possession of this announcement or
any document or other information referred to herein should inform
themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the
securities laws of any jurisdiction.
This announcement should not be relied on for making any
investment decision in relation to the purchase of the Notes. Full
details of the terms and conditions of the Notes and information
relating to the Company and the Guarantors, as well as risks
involved in an investment in the Notes, are set out in the Exchange
Offer Memorandum and Prospectus and any investment decision should
be made solely on the basis of a careful review of the Exchange
Offer Memorandum and Prospectus . In particular, investors'
attention is drawn to the section headed "Risk Factors" in the
Exchange Offer Memorandum and Prospectus . Potential investors
should, therefore, read the Exchange Offer Memorandum and
Prospectus carefully before making an investment. Potential
investors should ensure that they understand and accept the risks
and rewards relating to an investment in the Notes before making
such an investment. Potential investors should seek their own
professional investment, accounting, legal and tax advice as to
whether an investment in the Notes is suitable for them.
The Exchange Offer Memorandum and Prospectus has been approved
by the Financial Conduct Authority (the "FCA"). The FCA only
approves the Exchange Offer Memorandum and Prospectus as meeting
the standards of completeness, comprehensibility and consistency
imposed by Regulation EU 2017/1129 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA")
(the "UK Prospectus Regulation"). Such approval should not be
considered as an endorsement of either the Company or the
Guarantors or the quality of the Notes that are the subject of the
Exchange Offer Memorandum and Prospectus and investors should make
their own assessment as to the suitability of investing in the
Notes.
This announcement is a financial promotion approved, for the
purposes of section 21(2)(b) of the FSMA, by Peel Hunt LLP and made
by EnQuest PLC. Peel Hunt LLP (incorporated in England and Wales
with registered number OC357088) whose registered office is 100
Liverpool Street, London EC2M 2AT, is authorised and regulated by
the FCA.
Peel Hunt LLP and WH Ireland Limited are acting exclusively for
EnQuest PLC and the Guarantors as Joint Lead Managers and no one
else in respect of the offering of the Notes and will not regard
any other person (whether or not a recipient of this announcement)
as a client in relation to the offering of the Notes or any other
transaction, document or arrangement referred to in this
announcement and will not be responsible to anyone other than
EnQuest PLC and the Guarantors for providing the protections
afforded to its clients or for giving advice in relation to the
offering of the Notes or any other transaction, document or
arrangement referred to in this announcement.
This announcement does not constitute or form part of any offer
or invitation to sell, or any solicitation of any offer to
purchase, any securities. This announcement does not constitute and
shall not, in any circumstances, constitute a public offering nor
an invitation to the public in connection with any offer within the
meaning of the UK Prospectus Regulation. Any offer and sale of any
securities will be made in compliance with the requirements of the
UK Prospectus Regulation.
Any securities referred to herein will not be registered under
the U.S. Securities Act of 1933, as amended (the "Securities Act").
Subject to certain exceptions, such securities may not be offered,
sold or delivered within the United States or to, or for the
account or benefit of, U.S. persons (as defined in the Securities
Act). Any securities referred to herein are expected to be offered
and sold outside of the United States in reliance on Regulation S
of the Securities Act. There will be no public offering in the
United States.
UK MIFIR Product Governance - Solely for the purposes of the
product governance requirements contained within the FCA Handbook
Product Intervention and Product Governance Sourcebook (the "UK
Product Governance Rules"), and disclaiming all and any liability,
whether arising in tort, contract or otherwise, which any
'manufacturer' (for the purposes of the UK Product Governance
Rules) may otherwise have with respect thereto, the Notes have been
subject to a product approval process, which has determined that
the Notes are: (i) compatible with an end target market of retail
clients, as defined in point (8) of Article 2 of Regulation (EU) No
2017/565 as it forms part of UK domestic law by virtue of the EUWA,
eligible counterparties, as defined in the FCA Handbook Conduct of
Business Sourcebook ("COBS") and professional clients, as defined
in Regulation (EU) No 600/2014 as it forms part of UK domestic law
by virtue of the EUWA ("UK MiFIR"); and (ii) all channels for
distribution of the Notes are appropriate, subject to the
distributor's suitability and appropriateness obligations under
COBS, as applicable. Any person subsequently offering, selling or
recommending the Notes (a "distributor") should take into
consideration the manufacturers' target market assessment; however,
a distributor subject to the Product Governance Rules is
responsible for undertaking its own target market assessment in
respect of the Notes (by either adopting or refining the
manufacturers' target market assessment) and determining
appropriate distribution channels, subject to the distributor's
suitability and appropriateness obligations under COBS, as
applicable.
Legal Entity Identifier: 2138008LJU6WFQWOXJ73
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
PDIJLMTTMTMTTIT
(END) Dow Jones Newswires
March 30, 2022 02:00 ET (06:00 GMT)
Enquest (LSE:ENQ)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Enquest (LSE:ENQ)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024