Premier Oil PLC Result of Scheme Meetings (7982C)
February 12 2020 - 7:14AM
UK Regulatory
TIDMPMO
RNS Number : 7982C
Premier Oil PLC
12 February 2020
Premier Oil plc
("Premier")
Result of Scheme Meetings
12 February 2020
Premier announces that the Scheme meetings of the Super Senior
Scheme Creditors and Senior Scheme Creditors (together the "Scheme
Creditors") of Premier and Premier Oil UK Limited, were held
earlier today.
The Scheme meetings were held for the purpose of proposing
resolutions to the Scheme Creditors to approve the schemes of
arrangement (the "Schemes") required to implement the announced UK
North Sea Acquisitions, related funding arrangements and extension
of Premier's credit facilities.
The resolutions at each of the Scheme meetings were approved by
the relevant majorities of the Scheme Creditors in each class being
a majority in number representing at least 75% in value of those
present and voting (in person or by proxy):
-- Of the Super Senior Scheme Creditors, 86.81% in value of
those voting approved the Schemes with 99.30% in value voting.
-- Of the Senior Scheme Creditors, 83.86% of those voting
approved the Schemes with 96.51% in value voting.
The Schemes remain subject to approval by the Scottish Court of
Session with the sanction hearing currently scheduled to commence
on 17 March 2020.
Enquiries
Premier Oil plc Tel: 020 7730 1111
Tony Durrant, CEO
Richard Rose, Finance Director
Camarco Tel: 020 3757 4983
Billy Clegg
James Crothers
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END
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