EnQuest PLC Notice to holders of the Company's Retail Notes (4724V)
January 30 2017 - 6:44AM
UK Regulatory
TIDMENQ
RNS Number : 4724V
EnQuest PLC
30 January 2017
THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF
NOTEHOLDERS (AS DEFINED BELOW). IF NOTEHOLDERS ARE IN ANY DOUBT AS
TO THE ACTION THEY SHOULD TAKE, THEY SHOULD SEEK THEIR OWN
FINANCIAL AND LEGAL ADVICE IMMEDIATELY FROM THEIR STOCKBROKER,
SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT FINANCIAL OR LEGAL
ADVISER.
30 January 2017
ENQUEST PLC
(the "Company")
Notice to holders ("Noteholders") of the Company's
GBP155,000,000 7 per cent. Extendable PIK Toggle Notes due 2022
(ISIN: XS0880578728, Common Code: 088057872) (the "Notes")
Pursuant to Condition 5A(b) of the terms and conditions of the
Notes (the "Conditions"), notice is hereby given that the Cash
Payment Condition in respect of the Interest Payment Date falling
on 15 February 2017 has not been satisfied and interest due on the
Notes will not be paid in cash. The Interest Payment Date falling
on 15 February 2017 will be a PIK Interest Payment Date for the
purposes of the Conditions.
As a result of the Cash Payment Condition not being satisfied in
respect of the Interest Payment Date falling on 15 February 2017,
accrued interest on the Notes from (and including) 15 August 2016
will be capitalised and satisfied through the issue of Additional
Notes in an aggregate principal amount of GBP5,425,000. The
Additional Notes will be issued by the Company on 15 February 2017
and, upon listing, will be consolidated and form a single series
with the existing Notes in issue. The aggregate outstanding
principal amount of the Notes, as increased by the issue of the
Additional Notes, will be GBP160,425,000.
The Record Date for determining the entitlement of individual
Noteholders to Additional Notes will be the close of business on 31
January 2017.
Admission of the Additional Notes to the Official List of the
Financial Conduct Authority and to trading on the London Stock
Exchange's electronic order book for retail bonds is expected to
take place on (or shortly after) publication of the Group's
preliminary results for the financial year ended 31 December
2016.
Words and expressions defined in the Conditions shall have the
same meaning when used in this notice.
For further information, please visit the Company's Investor
Relations website at www.enquest.com/investors or contact:
Investor Relations
EnQuest PLC
Fifth Floor, Cunard House
15 Regent Street
London SW1Y 4LR
United Kingdom
Tel: 0207 925 4900
This information is provided by RNS
The company news service from the London Stock Exchange
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