Petropavlovsk PLC - Adjustment To Covertible Bonds Exchange PriceRNS Number : 0756O
Petropavlovsk PLC
05 October 2012
5 October 2012
ADJUSTMENT TO EXCHANGE PRICE OFTHE US$380,000,000 4.00 PER CENT GUARANTEED CONVERTIBLE BONDS DUE 2015 (ISIN: XS0482875811)
Unless otherwise defined, capitalised terms used this announcement shall have the same meaning as
defined in the terms and conditions (the Terms and Conditions) of the US$380 million 4.00 per cent Guaranteed Convertible Bonds (the Bonds) due 2015, which were issued by Petropavlovsk PLCs subsidiary, Petropavlovsk 2010 Limited (the Issuer), on 18 February 2010.
On 23 August2012 Petropavlovsk PLC (the Company) announced its half-year results for the six months ended 30 June 2012 and the Board approved the payment of an interimdividend of 5 pence sterling payable to shareholders of the Companys ordinary shares of £0.01 (the Ordinary Shares) on 8 November 2012.
The articles ofassociation of the Issuer (the Articles) provide for adjustments to be made to the exchange price of the Bonds (the Exchange Price) if a capital distribution is paid or made to holders
of Ordinary Shares, provided that such adjustment (roundeddown if applicable) would be equal to, or more than, 1 per cent of the Exchange Price then in effect.
As a result of thepayment by the Company of cash dividends to shareholders, an adjustment tothe Exchange Price is required pursuant to Condition 8(b)(iii) of the Terms and Conditions and
Article 2.4.6(b)(i)(3) of the Articles.
The current Exchange Price is £12.36.
With effect from and including the first date on which the Ordinary Shares traded ex-the cash dividend on 3 October 2012, the Exchange Price is adjusted to £12.21 (rounded down to the nearest £0.01).
All other Articles and Terms and Conditions of the Bonds remain unchanged.
Enquiries: Petropavlovsk PLC
Alya Samokhvalova +44 (0) 20 7201 8900
Rachel Tuft
College Hill
David Simonson +44 (0) 20 7457 2020
Anca Spiridon
This information is provided by RNS
The company news service from the London Stock Exchange
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