TIDMGENL
RNS Number : 8668B
Genel Energy PLC
07 April 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED
STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED
STATES OR THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON, OR IN OR
INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE,
PUBLISH OR DISTRIBUTE THIS DOCUMENT
7 April 2017
Genel Energy plc
Pricing of buy-back offer for partial bond repurchase
Reference is made to the announcement made on 30 March 2017
regarding Genel Energy Holding Company Limited's ('the Company' or
'the Issuer') reverse tender offer ('the Buy-Back Offer') to
holders of Genel Energy Finance plc's USD 730 million GENEL01 PRO
senior unsecured callable bonds with ISIN NO0010710882 ('the
Bonds').
The Company has decided to repurchase a nominal amount of USD
252.8 million of Bonds in connection with the Buy-Back Offer. The
Bonds will be repurchased at the price offered by each bondholder
up to and including 89.90% of par value. The Bonds are being
repurchased at a weighted average price of 85.56% of par value.
Settlement of the repurchases pursuant to the Buy-Back Offer
will occur on 11 April 2017. The Company will cancel all Bonds
repurchased, including current treasury bonds with nominal value of
USD 55.4 million.
The results of the Buy-Back Offer are being published under the
Issuer's ticker on www.newsweb.no, the information service of the
Oslo Stock Exchange, and www.stamdata.no, the information service
of the bond trustee for the Bonds, Nordic Trustee ASA. Requests for
more information may be directed to the Manager of the Buy-Back
Offer, DNB Markets at genel@dnb.no.
-ends-
For further information, please contact:
Genel Energy
Phil Corbett, Head of Investor
Relations
Andrew Benbow, Head of Public
Relations +44 20 7659 5100
Notes to editors:
Genel Energy is an independent oil and gas exploration and
production company listed on the main market of the London Stock
Exchange (LSE: GENL). The Company, with headquarters in London and
offices in Ankara and Erbil, is one of the largest London-listed
independent oil producers, and is the largest holder of reserves
and resources in the Kurdistan Region of Iraq. Through its Miran
and Bina Bawi gas fields, the Company is set to be a cornerstone
provider of gas to Turkey under the KRI-Turkey Gas Sales Agreement.
Genel also continues to pursue further growth opportunities within
the Middle East and Africa. For further information, please refer
to www.genelenergy.com.
DISCLAIMER
The distribution of the Buy-Back Offer to Bondholders in certain
jurisdictions may be restricted by law. Persons into whose
possession the Buy-Back Offer to Bondholders comes are required by
the Company and the Manager for the Buy-Back Offer to inform
themselves about, and to observe, any such restrictions.
United States
The Buy-Back Offer is not being made directly or indirectly in
or into, or by use of the mails of, or by any means or
instrumentality of interstate or foreign commerce of, or any
facilities of a national securities exchange of, the United States
of America, its territories and possessions, any State of the
United States and the District of Columbia (the 'United States'),
and the Buy-Back Offer will not be capable of acceptance by any
such means, instrumentality or facility. This includes, but is not
limited to, facsimile transmission, internet delivery, email, telex
and telephones. The Buy-Back Offer is not being made to any U.S.
person (as such term is defined pursuant to Regulation S under the
US Securities Act of 1933, as amended (the 'Securities Act').
Copies of this document and any related offering documents are not
being, and must not be, directly or indirectly mailed, emailed or
otherwise transmitted, distributed or forwarded (including, without
limitation, by custodians, nominees or trustees) in or into the
United States or to any persons located or resident in the United
States and may not be electronically accessed by U.S. persons or
from the United States. Any purported acceptance of the Buy-Back
Offer or other offer or agreement to sell Bonds in the Buy-Back
Offer resulting directly or indirectly from a violation of these
restrictions will be invalid, and any purported acceptance of the
Buy-Back Offer and any other offer and/or agreement to sell Bonds
that is post-marked in or otherwise dispatched from, evidences the
use of any means or instrumentality of interstate or foreign
commerce of the United States or is made by a person appearing or
otherwise believed by the Company to be located or resident in the
United States, or any agent, fiduciary or other intermediary acting
on a non-discretionary basis for a principal giving instructions
from within the United States will be invalid and will not be
accepted.
The Company will only accept offers with respect to the Bonds
from a Bondholder or beneficial owner of the Bonds (or any person
acting as agent, custodian, fiduciary or other intermediary
capacity for a Bondholder or beneficial owner) who is not a U.S.
person and who is outside the United States. Each person
participating in the Buy-Back Offer will represent that it or any
beneficial owner of the Bonds or any person on whose behalf such
person is acting is not a U.S. person or a resident and/or located
in the United States and will not be resident and/or located in the
United States at the time of the submission of its offer pursuant
to the Buy-Back Offer.
United Kingdom
The information contained in this Buy-Back Offer does not
constitute an invitation or inducement to engage in investment
activity within the meaning of the United Kingdom Financial
Services and Markets Act 2000 ('FSMA'). In the United Kingdom, this
announcement is being distributed only to, and is directed only at
(i) persons who have professional experience, knowledge and
expertise in matters relating to investments and are 'investment
professionals' for the purposes of Article 19(5) of the FSMA
(Financial Promotions) Order 2005 (the 'FPO')), (ii) persons who
are certified high net worth individuals for the purposes of
Article 48 of the FPO or (iii) any other persons to whom it may
otherwise lawfully be made under the FPO (all such persons together
being referred to as 'relevant persons'). This announcement and the
Buy-Back to Bondholders is directed only at relevant persons and
must not be acted on or relied on by persons who are not relevant
persons.
General
This announcement is neither an offer to purchase nor the
solicitation of an offer to sell any of the securities described
herein, nor shall there be any offer or sale of such securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful. The Buy-Back Offer is made solely pursuant to the
Buy-Back Offer to Bondholders dated 30 March 2017.
This announcement must be read in conjunction with the Buy-Back
Offer to Bondholders. This announcement and the Buy-Back Offer to
Bondholders contain important information which should be read
carefully before any decision is made with respect to the Buy-Back
Offer. If any Bondholder is in any doubt as to the action it should
take, it is recommended that such Bondholder seek its own financial
and legal advice, including as to any tax consequences, immediately
from its stockbroker, bank manager, solicitor, accountant or other
independent financial or legal adviser. Any individual or company
whose Bonds are held on its behalf by a broker, dealer, bank,
custodian, trust company or other nominee or intermediary must
contact such entity if it wishes to offer Bonds in the Buy-Back
Offer. None of the Company or the Manager makes any recommendation
as to whether Bondholders should participate in the Buy-Back
Offer.
This announcement contains forward-looking statements and
information that is necessarily subject to risks, uncertainties,
and assumptions. No assurance can be given that the transactions
described herein will be consummated or as to the terms of any such
transactions. The Company assumes no obligation to update or
correct the information contained in this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUNUKRBKASRAR
(END) Dow Jones Newswires
April 07, 2017 02:00 ET (06:00 GMT)
Genel Energy (LSE:GENL)
Historical Stock Chart
From Sep 2024 to Oct 2024
Genel Energy (LSE:GENL)
Historical Stock Chart
From Oct 2023 to Oct 2024