RCS - Petropavlovsk PLC - Results of Scheme Meetings

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11/01/2023 14:45

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RNS Number : 4294M  Petropavlovsk PLC  11 January 2023

 

11 January 2023

 

Petropavlovsk PLC

Petropavlovsk 2010 Limited

Petropavlovsk 2016 Limited

 

Results of Scheme Meetings

 

Petropavlovsk PLC, Petropavlovsk 2010 Limited and Petropavlovsk 2016 Limited
(together the "Companies" and each a "Company") announce that, at meetings
held on 11 January 2023 (the "Scheme Meetings"), the schemes of arrangement
proposed in relation to the Companies were each duly approved by the requisite
majority of the creditors of such Company entitled to attend and vote at the
Scheme Meeting and so doing ("Scheme Creditors").

The Scheme Meetings were convened pursuant to orders of the High Court in
London made on 20 December 2022. There will now be a hearing of the High Court
in London on 20 January 2023 at which each Company will seek final sanction of
the High Court to the scheme of arrangement proposed in relation to it
(together the "Schemes").  It is anticipated that, subject to and following
sanction by the High Court, the Schemes will become effective as regards all
Scheme Creditors by the end of January 2023.

Any Scheme Creditor wishing to oppose the sanctioning of a Scheme should do so
by filing and serving on the relevant Company any evidence on which it wishes
to rely by not later than 16:00 on 13 January 2023, after which the timetable
for the production of documents for the relevant sanctions hearing will be:

·    By 16:00 on 17 January 2023, the relevant Company must serve on the
Opposing Creditor evidence in reply

·    By 10:00 am on 18 January 2023, the relevant Company must provide an
electronic sanction hearing bundle on the Opposing Creditor and the High
Court, which the Company and Opposing Creditor must use reasonable endeavours
to agree

·    By 10:00 on 19 January 2023, the relevant Company and Opposing
Creditor must lodge and exchange skeleton arguments for the sanction hearing

·    By 14:00 on 19 January 2023, the relevant Company and the Opposing
Creditor must lodge with the High Court a consolidated bundle of authorities
in electronic form.

All timings given above are London time.

The time of the sanctions hearing will be announced once known and will also
be available on the HM Courts & Tribunals Service website at
https://www.gov.uk/government/publications/business-and-property-courts-rolls-building-cause-list/business-and-property-courts-of-england-and-wales-cause-list#companies-winding-up-chancery-division
(https://www.gov.uk/government/publications/business-and-property-courts-rolls-building-cause-list/business-and-property-courts-of-england-and-wales-cause-list#companies-winding-up-chancery-division)

Further information on the Schemes, including the definition of Scheme
Creditor for each Scheme, are set out in the scheme documents available at:
https://i2capmark.com/event-details/84/Holder/petropavlovsk-plc
(https://i2capmark.com/event-details/84/Holder/petropavlovsk-plc) .

Enquiries

 

 Opus Business Advisory Group  +44 (0) 7967 658 296

 Nick Hood                     nick.hood@opusllp.com (mailto:nick.hood@opusllp.com)

 Allister Manson               petropavlovsk@opusllp.com (mailto:petropavlovsk@opusllp.com)

 Gareth Wilcox                 petrojersey@opusllp.com (mailto:petrojersey@opusllp.com)
 Petropavlovsk PLC             +44 (0) 20 7201 8900

 Max Zaltsman                  TeamIR@petropavlovskplc.com (mailto:TeamIR@petropavlovskplc.com)
 Information Agent             +44 (0) 20 3633 1212

 i2 Capital Markets Limited    petropavlovsk@i2capmark.com (mailto:petropavlovsk@i2capmark.com)

 

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