Paladin Energy Ltd

Paladin Energy Ltd

April 22, 2008 07:28 ET

Paladin Energy Ltd Notes Appendix 3Y Filed With ASX

PERTH, WESTERN AUSTRALIA--(Marketwire - April 22, 2008) - Paladin Energy Limited ("Paladin" or the "Company") (TSX:PDN)(ASX:PDN) wishes to refer to the Appendix 3Y lodged ("filed") with the Australian Stock Exchange on Monday, April 21, 2008 by Rick Crabb, Chairman of Paladin Energy Ltd. For the sake of clarification and in view of the manner in which this was reported by certain press we draw attention to the "nature of change" on page 2 of this Notice.

This details the circumstances surrounding this sale noting the shares were disposed of without Mr. Crabb's consent or authority and Mr. Crabb is currently pursuing legal action to recover these. The text of the description is set out below:-

"Involuntary sale of 6,383,218 ordinary shares between 11 April and 14 April 2008 pursuant to the (purported) exercise of rights by a secured creditor of Lift Capital (Pty Ltd), as notified to the director on 16 April 2008. No consideration has been received by the Director at this time. The Director is pursuing actions to recover the ordinary shares disposed without the Director's consent or authority."

ACN 061 681 098

Contact Information

  • Paladin Energy Limited
    John Borshoff
    Managing Director
    +61-8-9381-4366 or Mobile: +61-419-912-571
    Paladin Energy Limited
    Greg Taylor
    Investor Relations Contact
    (905) 337-7673 or Cell: (416) 605-5120 (Toronto area)