Premier Oil PLC Revised conversion price for convertible bonds (2573A)
23 March 2017 - 6:00PM
UK Regulatory
TIDMPMO
RNS Number : 2573A
Premier Oil PLC
23 March 2017
This announcement has been determined to contain inside
information
PREMIER OIL PLC
("Premier")
Revised conversion price for Premier's convertible bonds
23 March 2017
Further to the announcement on 1 March 2017 setting out the
proposed changes to the terms of its $245m convertible bonds,
Premier today confirms the amended conversion price will be 74.71p,
a premium of 20% to the volume weighted average price of Premier's
shares over the period from 1 March to 22 March 2017 (inclusive).
The exchange rate to be used on any future conversion of the bonds
will be re-set to a fixed rate of $1.2280/GBP.
As previously announced, Premier will seek to implement the
amendments to the terms of the convertible bonds by way of
extraordinary resolution at a meeting of the convertible
bondholders. The amendments will become effective on completion of
Premier's refinancing.
Enquiries
Premier Oil plc Tel: 020 7730 1111
Tony Durrant (CEO)
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
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