Paladin Energy Ltd

TSX : PDN
ASX : PDN


Paladin Energy Ltd

April 16, 2014 07:56 ET

Paladin Energy Ltd: US$20M Deposit Released From Escrow, Langer Heinrich Namibia

PERTH, WESTERN AUSTRALIA--(Marketwired - April 16, 2014) - Paladin Energy Ltd (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") notes that, further to the announcement made January 20, 2014 advising the sale of a 25% minority interest in Langer Heinrich to China National Nuclear Corporation (CNNC) for US$190M, Paladin is pleased to advise that the conditions required to allow release of the escrowed US$20M non-refundable deposit have been satisfied. The escrow agent has forwarded these funds to Paladin's account.

The Company has also been advised that all approvals that will be required by CNNC to allow completion of this transaction remain on track with finalisation expected in June 2014.

ACN 061 681 098

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