Paladin Energy Ltd

Paladin Energy Ltd

May 23, 2012 09:00 ET

Paladin Energy Ltd Announces Expiry of Deadline for Tender Offer

PERTH, WESTERN AUSTRALIA--(Marketwire - May 23, 2012) - Paladin Energy Ltd (TSX:PDN)(ASX:PDN) (Paladin or the Company) refers to its invitation of tenders for repurchase for cash of up to U.S.$200,000,000 of its outstanding U.S.$325,000,000 5.00 per cent. convertible bonds due 2013 convertible into ordinary shares of Paladin issued on 11 March 2008 and due March 2013 (Bonds), which are listed on Singapore Exchange Securities Trading Limited.

Paladin previously announced on 23 April 2012 the launch of a tender offer pursuant to which certain holders of the Bonds (the Bondholders) were invited to tender any or all of their Bonds for repurchase by Paladin for cash (the Offer) (subject to a minimum tender amount of U.S.$200,000 in nominal amount of the Bonds) upon the terms and subject to the conditions contained in the Tender Offer Memorandum dated 23 April 2012, as supplemented by the Supplemental Tender Offer Memorandum dated 16 May 2012 (as so supplemented, the Tender Offer Memorandum).

Paladin wishes to inform the Bondholders that, pursuant to the terms of the Tender Offer Memorandum, the Offer expired at 3 p.m. (London U.K. time) on 22 May 2012 and has not been extended.

Paladin expects to make an announcement on or about 24 May 2012 of the final results of the Offer and an announcement on or about 29 May 2012 stating, among other things, that settlement has taken place, the total consideration paid by it for the Bonds repurchased by it pursuant to the Offer and the aggregate nominal amount of Bonds remaining outstanding following completion of the Offer.

Caution Regarding Forward-Looking Statements: Statements in this news release regarding proposed future announcements regarding the final result and settlement of the Offer are forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ from those expressed or implied by such statements. There can be no guarantee such statements will be realised. In particular, there can be no assurance as to when or whether any Bonds will be repurchased or when or if settlement will occur. Reference should be had to Paladin's public disclosure documents, including its most recent Annual Information Form, which are available under Paladin's profile at, for a discussion of risk factors affecting the Company.

ACN 061 681 098

Contact Information