Microsoft Word - 150116 Successful Consent Solicitation Vote

16 January 2015

SUCCESSFUL CONSENT SOLICITATION VOTE CONFIRMING FORBEARANCE DURING PERIOD TO 16 JANUARY 2015

Atlantic Ltd (ASX: ATI) (Atlantic or the Company) is pleased to announce the successful completion of the consent solicitation voting process to complete the mechanics of the forbearance and support agreement that was referred to in the Company's ASX announcement dated 22 December 2014.
Senior secured note holders of Atlantic's wholly-owned subsidiary Midwest Vanadium Pty Ltd (MVPL)
representing 76.7% of the notes on issue voted in favour of the proposals.
The consent process involved directions to the trustee and the security trustee to provide for the extension of the forbearance, support agreement between MVPL and a majority of the holders of MVPL's senior secured notes and technical amendments to the senior secured notes indenture, which related to MVPL's ability to incur up to an additional $10 million in permitted indebtedness if a restructuring agreement is executed among MVPL and the supporting note holders.
The forbearance and support agreement provided for the then existing standstill arrangements that ended on 15 December 2014 to be extended until 16 January 2015. A further extension of the standstill arrangements is currently being discussed.
The Company requests that the voluntary suspension in the trading of its securities remain in place.
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For further information please contact: Daniel Harris Terry Bourke Chief Executive Officer General Counsel Atlantic Ltd Atlantic Ltd

Ph: + 61 8 6141 7100 Ph: +61 8 6141 7100

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