SOURCE: Paladin Energy Ltd

Paladin Energy Ltd

March 13, 2015 07:00 ET

Paladin Energy Ltd: Update on Issue of Convertible Bonds

PERTH, WESTERN AUSTRALIA--(Marketwired - March 13, 2015) - Paladin Energy Ltd (TSX: PDN) (ASX: PDN) ("Paladin" or the "Company") refers to its announcements of February 12, 2015, regarding the launch and pricing of an offering of US$100M of senior, unsecured convertible bonds due March 31, 2020 (Convertible Bonds), further details of which are set out in the Notice of General Meeting released February 24, 2015, in relation to the shareholder meeting to be held on March 30, 2015.

As described in the February 12, 2015, announcements and in the Notice of General Meeting, the agreement between Paladin and J.P. Morgan Securities plc (J.P. Morgan) (as sole lead manager) in relation to the issue of the US$100M Convertible Bonds provides that Paladin and J.P. Morgan may agree, on or prior to March 14, 2015, for Paladin to issue up to a further US$50M of senior, unsecured convertible bonds to existing or potential strategic partners on the same terms as the US$100M Convertible Bonds (the Upsize Option).

Paladin is in ongoing confidential discussions with prospective strategic investors in relation to a potential investment in up to US$50M of convertible bonds (which would be issued by way of Paladin electing to exercise the Upsize Option).

In order to allow Paladin to progress, and potentially finalise, its discussions with one or more of these strategic investors, Paladin and J.P. Morgan have agreed to extend the period during which Paladin may exercise the Upsize Option from March 14, 2015 to March 24, 2015. There is no guarantee that the current discussions will result in any investment by a preferred investor or investors being finalised.

If Paladin exercises the Upsize Option on or before March 24, 2015, Paladin will release a further announcement at this time.

ACN 061 681 098

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