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Paladin Energy Ltd. : Extension of Deadline for Revocation of Tenders

05/15/2012 | 08:50pm US/Eastern
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PALADIN ENERGY LTD

ACN 061 681 098

16 May 2012
Company Announcements Office By Electronic Lodgement
Australian Securities Exchange Limited
20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam

Paladin Energy Ltd - extension of deadline for revocation of tenders

Paladin Energy Ltd (Paladin or the Company) refers to its announcement on 23 April 2012 in relation to the issue of new convertible bonds and the launch of a tender offer (Tender Offer) to repurchase for cash up to U.S.$200,000,000 of its outstanding U.S.$325,000,000 5.00 per cent convertible bonds due
2013 (Bonds).
Pursuant to the Tender Offer, certain holders of the Bonds (the Bondholders) were invited to tender any or all of their Bonds for repurchase by Paladin for cash (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 (the Tender Offer Memorandum).
Pursuant to the terms of the Tender Offer Memorandum, Bondholders were entitled to revoke tenders of Bonds at any time from 9.00 a.m. (London time) on 23 April 2012 to 12.00 noon (London time) on 8
May 2012 (subject to the earlier deadlines required by Euroclear Bank S.A./N.V. (Euroclear) or Clearstream Banking, société anonyme (Clearstream, Luxembourg and, together with Euroclear, the Clearing Systems) and any intermediary through which Bondholders hold their Bonds) (see the
section entitled "Amendment and Termination - Revocation Rights" in the Tender Offer Memorandum).
On 16 May 2012 Paladin released its financial report for the nine months ended 31 March 2012. Consequently, Paladin hereby informs Bondholders that, pursuant to a Supplemental Tender Offer Memorandum dated 16 May 2012 (the Supplemental Tender Offer Memorandum), the deadline for revocation of tenders of Bonds has been extended and that Bondholders are entitled to revoke tenders of Bonds at any time until 12.00 noon (London time) on 18 May 2012 (subject to the earlier deadlines required by the Clearing Systems and any intermediary through which Bondholders hold their Bonds). Bondholders wishing to exercise any right of revocation should do so in accordance with the procedures set out in the section entitled "Procedures for Participating in the Offer" in the Tender Offer Memorandum.

Bondholders should be aware that the Clearing Systems typically set deadlines for receipt of instructions from their participants that are in advance of the deadlines set out above.

Level 4, 502 Hay Street, Subiaco Western Australia 6008 Postal: PO Box 201, Subiaco Western Australia 6904

Tel: +61 (8) 9381 4366 Fax: +61 (8) 9381 4978 Email: paladin@paladinenergy.com.au Website: www.paladinenergy.com.au

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Save as set out in the Supplemental Tender Offer Memorandum, the terms and conditions of the Tender Offer contained in the Tender Offer Memorandum remain unchanged and in full force and effect.
Yours faithfully
Paladin Energy Ltd

John Borshoff Managing Director/CEO

NOTHING IN THIS DOCUMENT CONSTITUTES AN OFFER OF SECURITIES FOR SALE OR AN OFFER TO PURCHASE ANY SECURITIES, OR AN INVITATION TO ANY PERSON TO MAKE SUCH AN OFFER, IN ANY JURISDICTION.

THE TENDER OFFER WILL BE MADE AVAILABLE TO PERSONS IN OTHER JURISDICTIONS ONLY AS PERMITTED BY APPLICABLE LAWS. THE TENDER OFFER WILL NOT COMPLY WITH DIVISION 5A OF PART 7.9 OF THE CORPORATIONS ACT 2001 (CTH) AND ACCORDINGLY WILL ONLY BE MADE AVAILABLE IN AUSTRALIA IN CIRCUMSTANCES

PERMITTED BY REGULATION 7.9.97 OF THE CORPORATIONS REGULATIONS 2001 (CTH).

Ref: 267212

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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