PERTH, WESTERN AUSTRALIA--(Marketwire - May 4, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) (Paladin or the Company). Further to the Company's announcement dated 23 April 2012 and material change report filed on SEDAR on 2 May 2012, Paladin wishes to correct certain errors in the material change report and confirm the details regarding its Tender Offer as described in the 23 April 2012 news release.
Paladin confirms that it will pay US$198,000 (Repurchase Price) for each US$200,000 in nominal amount of its US$325M issue of convertible bonds due in March 2013 (ISIN: XS0349087451; Common Code: 034908745) (2013 Bonds) pursuant to its Tender Offer to acquire up to US$200M (or such higher amount as it determines in its absolute discretion) of its US$325M issue of the 2013 Bonds. The material change report stated an incorrect Repurchase Price. The material change report also stated incorrect dates in one place for the occurrence of the material changes referred to in it. A corrected material change report will be filed on SEDAR forthwith.
Paladin confirms it will also pay accrued but unpaid interest on the 2013 Bonds accepted by it for repurchase pursuant to the Tender Offer to (but excluding) the settlement date, which is expected to be an amount of US$2,166.67 for each US$200,000 in nominal amount (Accrued Interest) of such 2013 Bonds.
Paladin also confirms that, in addition, the Repurchase Price will be increased by US$2,000 (the Repurchase Price so increased to US$200,000, the Early Tender Repurchase Price) for each US$200,000 in nominal amount of the 2013 Bonds that are validly tendered for purchase by 12 noon (London time) on 8 May 2012 (the Early Tender Deadline) and accepted by Paladin.
The Tender Offer begins on the date of the Tender Offer Memorandum and will expire at 3.00pm (London time) on 22 May 2012 unless extended, re-opened or terminated as provided in the Tender Offer Memorandum.
ACN 061 681 098