Update on the Petraco refinancing


 

TIDMUEN 
 
RNS Number : 4811K 
Urals Energy Public Company Limited 
20 April 2010 
 

 
20 April 2010 
                      Urals Energy Public Company Limited 
                        ('Urals Energy' or the 'Company') 
 
                        Update on the Petraco refinancing 
 
Further to the announcement on 12 April 2010 relating to the refinancing of the 
indebtedness owed by the Company to Petraco Oil Company Limited ("Petraco"), 
Urals Energy today confirms that, subject to a waiver of the pre-emptive rights 
by the Company's shareholders at the next Extraordinary General Meeting (notice 
of which was mailed to all shareholders on 14 April 2010), in accordance  with 
the Restructuring Agreement (as defined in the announcement of 12 April 2010) 
Petraco will convert US$2.0 million of its existing outstanding indebtedness 
into 8,693,006 new Urals Energy shares.  In addition the Company will issue 
warrants to Petraco to acquire 12,576,688 new Urals Energy shares. 
 
These figures have been calculated using a volume weighted average price of 
17.278663 pence per Urals Energy share and an exchange rate of GBP1.00 to 
$1.5338. 
 
The extraordinary general meeting is scheduled to take place at 10.00 am local 
time at Evagoras Building Office, 34 3rd Floor, 31 Evagorou Avenue, Nicosia, 
Cyprus 
 
 
Enquiries: 
+----------------------------------+--------------------------------+ 
|                                  |                                | 
| Allenby Capital Limited          | +44 (0)20 3328 5656            | 
+----------------------------------+--------------------------------+ 
| Nick Naylor                      |                                | 
| Alex Price                       |                                | 
+----------------------------------+--------------------------------+ 
|                                  |                                | 
+----------------------------------+--------------------------------+ 
| Pelham Bell Pottinger            | +44 (0)20 7337 1500            | 
+----------------------------------+--------------------------------+ 
| Mark Antelme                     |                                | 
+----------------------------------+--------------------------------+ 
| Evgeniy Chuikov                  |                                | 
+----------------------------------+--------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 STREADLEAEFEEFF

Urals Energy (LSE:UEN)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024