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

END

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March 23, 2017 03:00 ET (07:00 GMT)

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