23 Mar 2017 07:00
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/£.
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 |
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Premier Oil plc | Tel: 020 7730 1111 |
Tony Durrant (CEO) Richard Rose (Finance Director) |
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Bell Pottinger | Tel: 020 3772 2570 |
Lorna Cobbett Henry Lerwill |
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