Premier Oil PLC Market speculation (6318O)
09 November 2016 - 12:01AM
UK Regulatory
TIDMPMO
RNS Number : 6318O
Premier Oil PLC
08 November 2016
This announcement has been determined to contain inside
information
PREMIER OIL PLC
("Premier" or "the Company")
Market speculation
8 November 2016
Premier notes the movement of the share price over the past two
days and speculation regarding secondary market activity by the
Company's debt holders. The Company has received assurances that
none of its senior lenders represented on the Bank Creditors
Committee have exited, or are proposing to exit, their loan
position at this time (including Lloyds Bank). There have been no
changes to the composition of the Bank Creditors Committee.
Discussions with the various lending groups on the Company's
proposed refinancing continue to progress towards a near term
agreement of all parties. Premier retained significant cash and
undrawn facilities of c.US$800 million at 30 June 2016 and
continues to have access to undrawn headroom under its main
facility, with the agreement of its banks.
A further update is planned in conjunction with the Company's
Trading and Operations update on November 17(th) .
Enquiries
Premier Oil plc Tel: 020 7730 1111
Tony Durrant, Chief
Executive
Richard Rose, Finance
Director
Bell Pottinger Tel: 020 3772 2570
Lorna Cobbett
Henry Lerwill
This information is provided by RNS
The company news service from the London Stock Exchange
END
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