Petropavlovsk PLC («Petropavlovsk» or the «Company»), has received a Conversion Notice (the «Notice») from Euroclear Nominees Limited, in respect of the exercise of its conversion rights under the Group's US$125m Guaranteed Convertible Bonds, due 2024 (the «Bonds»).
The aggregate principal amount of Bonds in respect of which Notice have been served amounts to US$200,000, which, at an exchange price of US$0.135 per Ordinary Share, will result in the issue and allotment of 1,481,481 new Ordinary Shares to Euroclear Nominees Limited.
The Company has agreed, subject to application, to issue the new shares and an application has been made for 1,481,481 new Ordinary Shares of the Company to be admitted to the Official List and to trading on the London Stock Exchange. Admission is expected on or around 28 July 2020.
Following admission, the total issued share capital of the Company will increase to 3,315,788,784 Ordinary Shares. This figure may be used by shareholders as the denominator for calculations by which they will determine whether they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.