Paladin Energy Ltd

Paladin Energy Ltd

May 30, 2012 09:00 ET

Paladin Energy Ltd Announces Settlement of Tender Offer

PERTH, WESTERN AUSTRALIA--(Marketwire - May 30, 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 (ISIN XS0349087451) convertible into ordinary shares of Paladin issued on 11 March 2008 (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). On 23 May 2012, Paladin announced the expiry of the period for Bondholders to tender their Bonds under the Offer. On 24 May 2012, Paladin announced the results of the Offer and that settlement would take place on or about 29 May 2012.

Paladin advises that:

(a) settlement in respect of the Offer occurred on 29 May 2012 (the Settlement Date);
(b) pursuant to the Offer, Paladin repurchased Bonds having an aggregate nominal amount of U.S.$191,000,000 (the Repurchased Bonds);
(c) the aggregate cash consideration paid on the Settlement Date by Paladin for the Repurchased Bonds (excluding accrued interest payable pursuant to the Tender Offer Memorandum (Accrued Interest) was U.S.$190,988,000. The aggregate amount of Accrued Interest paid on the Settlement Date by Paladin in respect of the Repurchased Bonds was U.S.$2,069,169.85. The aggregate consideration (including Accrued Interest) paid on the Settlement Date by Paladin for the repurchase of the Repurchased Bonds was U.S.$193,057,169.85; and
(d) following cancellation of the Repurchased Bonds on the Settlement Date, the aggregate nominal amount of the Bonds remaining outstanding is U.S.$134,000,000.

ACN 061 681 098

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