Business
Exchange Offer Results
Exchange Offer Results.
About this update from Savannah Energy Plc
[{"type":"text","content":"\n \nRNS Number : 1209E Savannah Petroleum PLC 07 February 2018 \n\nNOT FOR RELEASE OR DISTRIBUTION OR PUBLICATION IN WHOLE OR IN PART IN OR INTO THE AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SINGAPORE\n \nFebruary 7 2018\nSavannah Petroleum PLC\n(\"Savannah\" or the \"Company\")\n \nExchange Offer Results, Completion of Placing and TVR\nSavannah is pleased to announce the results of the exchange offer and consent solicitation (the \"Exchange Offer\") with respect to the 10.25% Senior Secured Notes. As of the expiration deadline of 4:00 p.m. (London Time) on 6 February 2018, Savannah had received valid exchange instructions in respect of US$305,623,123 in principal amount of outstanding 10.25% Senior Secured Notes, representing 96.04 per cent of the outstanding 10.25% Senior Secured Notes. \nSavannah will accept the tendered 10.25% Senior Secured Notes and the Exchange Offer will settle on 9 February 2018. The receipt of valid exchange instructions in excess of 90 per cent. of the outstanding 10.25% Senior Secured Notes means the Placing has now become unconditional. The Second Tranche Placing Shares, the EBT Shares and the new Ordinary Shares to be issued to the holders of the 10.25% Senior Secured Notes (which form part of the Consideration Shares) will be issued and allotted and admitted to trading on AIM on or around 9 February 2018. The amendments proposed as part of the Exchange Offer to the terms of the 10.25% Senior Secured Notes became effective 6 February 2018 on receipt of the requisite consents.\nThe exchange agent for the Exchange Offer is D.F. King Limited (the \"Exchange Agent\"). Any questions or requests for assistance or copies of the offer memorandum with respect to the Exchange Offer (the \"Solicitation Memorandum\") may be directed to D.F. King Limited at +1 212 269 5550 and +44 20 7920 9700, website: https://sites.dfkingltd.com/savannah, e-mail: [email protected].\nAdmission to Trading and Total Voting Rights\nApplication has been made to the London Stock Exchange for the Second Tranche Placing Shares, the EBT Shares and the new Ordinary Shares to be issued to the holders of the 10.25% Senior Secured Notes which rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM. \nFollowing the issue of the abovementioned new Ordinary S...