PERTH, WESTERN AUSTRALIA--(Marketwire - May 16, 2012) - Paladin Energy Ltd (PDN.TO - News)(PDN.AX - News) (Paladin or the Company) refers to its announcement on 23 April 2012 regarding the issue of new convertible bonds and the launch of a tender offer (Tender Offer) to repurchase for cash up to U.S.$200,000,000 of its outstanding U.S.$325,000,000 5.00% convertible bonds due 2013 (Bonds).
Pursuant to the Tender Offer, certain holders of the Bonds (the Bondholders) were invited to tender any or all of their Bonds for repurchase by Paladin for cash (subject to a minimum tender amount of U.S.$200,000 in nominal amount of the Bonds) upon the terms and subject to the conditions contained in the Tender Offer Memorandum dated 23 April 2012 (the Tender Offer Memorandum).
Pursuant to the terms of the Tender Offer Memorandum, Bondholders were entitled to revoke tenders of Bonds at any time from 9.00 a.m. (London time) on 23 April 2012 to 12.00 noon (London time) on 8 May 2012 (subject to the earlier deadlines required by Euroclear Bank S.A./N.V. (Euroclear) or Clearstream Banking, societe anonyme (Clearstream, Luxembourg and, together with Euroclear, the Clearing Systems) and any intermediary through which Bondholders hold their Bonds) (see the section entitled "Amendment and Termination - Revocation Rights" in the Tender Offer Memorandum).
On 16 May 2012 Paladin released its financial report for the nine months ended 31 March 2012. Consequently, Paladin hereby informs Bondholders that, pursuant to a Supplemental Tender Offer Memorandum dated 16 May 2012 (the Supplemental Tender Offer Memorandum), the deadline for revocation of tenders of Bonds has been extended and Bondholders are entitled to revoke tenders of Bonds at any time until 12.00 noon (London time) on 18 May 2012 (subject to the earlier deadlines required by the Clearing Systems and any intermediary through which Bondholders hold their Bonds). Bondholders wishing to exercise any right of revocation should do so in accordance with the procedures set out in the section entitled "Procedures for Participating in the Offer" in the Tender Offer Memorandum.
Bondholders should be aware that the Clearing Systems typically set deadlines for receipt of instructions from their participants that are in advance of the deadlines set out above.
Save as set out in the Supplemental Tender Offer Memorandum, the terms and conditions of the Tender Offer contained in the Tender Offer Memorandum remain unchanged and in full force and effect.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, OR A SOLICITATION OF AN OFFER TO SELL, ANY BONDS AND NO SUCH OFFER, SOLICITATION, PURCHASE OR SALE SHALL BE MADE IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION, PURCHASE OR SALE WOULD BE UNLAWFUL.
THE BONDS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR OTHER JURISDICTION.
THE DISTRIBUTION OF THE TENDER OFFER MEMORANDUM AND THE SUPPLEMENTAL TENDER OFFER MEMORANDUM IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. BONDHOLDERS AND ANY OTHER PERSON INTO WHOSE POSSESSION THE TENDER OFFER MEMORANDUM OR THE SUPPLEMENTAL TENDER OFFER MEMORANDUM COMES ARE REQUIRED BY PALADIN AND BARCLAYS BANK PLC, AS THE DEALER MANAGER, TO INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY SUCH RESTRICTIONS.
ACN 061 681 098
John Borshoff, Managing Director/CEO
+61 8 9381 4366 or Mobile: +61 419 912 571
Paladin Energy Ltd
Greg Taylor, Investor Relations Contact
905 337-7673 or Mobile: 416 605-5120 (Toronto)