REG-Genel Energy PLC Genel Energy PLC: Result of bond buy-back offer

Genel EnergyAnnouncement

12/10/2023 07:00

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   Genel Energy PLC (GENL)
   Genel Energy PLC: Result of bond buy-back offer

   12-Oct-2023 / 07:00 GMT/BST

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   NOT FOR RELEASE,  PUBLICATION OR DISTRIBUTION  IN WHOLE OR  IN PART IN  OR
   INTO OR  TO ANY  PERSON LOCATED  OR  RESIDENT IN  THE UNITED  STATES,  ITS
   TERRITORIES AND  POSSESSIONS,  ANY  STATE  OF THE  UNITED  STATES  OR  THE
   DISTRICT OF  COLUMBIA OR  TO ANY  U.S. PERSON,  OR IN  OR INTO  ANY  OTHER
   JURISDICTION WHERE IT IS UNLAWFUL  TO RELEASE, PUBLISH OR DISTRIBUTE  THIS
   DOCUMENT.

    

   12 October 2023

                                        

                                Genel Energy plc

                                        

                  Result of bond buy-back offer to bondholders

    

   Genel Energy Holding  Company Limited (‘the  Company’), with reference  to
   the announcement dated 2 October 2023, is hereby announcing the result  of
   the reverse tender offer (‘the Buy-Back Offer’) to holders of Genel Energy
   4 Finance plc’s (‘the Issuer’)  USD 300 million senior unsecured  callable
   bonds with  ISIN  NO0010894330 (‘the  Bonds’).  The Company  has  accepted
   offers for  USD 16.2  million  nominal value  of  bonds with  the  Maximum
   Accepted Price set to 93.5 per cent of nominal value.

    

   Cash settlement for the Bonds, including accrued interest, is expected  to
   occur on Friday 13 October 2023. Pareto Securities acted as broker for the
   Buy-Back Offer.

    

                                     -ends-

    

   For further information, please contact:

    

   Genel Energy
                                         +44 20 7659 5100
   Andrew Benbow, Head of Communications
                                          
   Vigo Consulting
                                         +44 20 7390 0230
   Patrick d’Ancona 

    

   Notes to editors:

    

   Genel Energy is  a socially responsible  oil producer listed  on the  main
   market   of    the    London    Stock   Exchange    (LSE:    GENL,    LEI:
   549300IVCJDWC3LR8F94), with an asset portfolio that positions us well  for
   a future  of  fewer  and  better natural  resources  projects.  Genel  has
   low-cost and low-carbon production from the Kurdistan Region of Iraq,  and
   continues to seek opportunities to  add new resilient and  cash-generative
   assets  to  its  portfolio.  For  further  information,  please  refer  to
    1 www.genelenergy.com

    

   DISCLAIMER

    

   The  distribution  of  the  Buy-Back  Offer  to  Bondholders  in   certain
   jurisdictions may be restricted by law. Persons into whose possession  the
   Buy-Back Offer to Bondholders  comes are required by  the Company and  the
   Manager for the Buy-Back Offer to inform themselves about, and to observe,
   any such restrictions.

    

   United States

   The Buy-Back Offer is not being made directly or indirectly in or into, or
   by use of the mails of, or  by any means or instrumentality of  interstate
   or foreign  commerce  of,  or  any facilities  of  a  national  securities
   exchange  of,  the   United  States  of   America,  its  territories   and
   possessions, any State of the United  States and the District of  Columbia
   (the ‘United  States’), and  the Buy-Back  Offer will  not be  capable  of
   acceptance by any such means, instrumentality or facility. This  includes,
   but is not limited to,  facsimile transmission, internet delivery,  email,
   telex and telephones.  The Buy-Back Offer  is not being  made to any  U.S.
   person (as such  term is  defined pursuant to  Regulation S  under the  US
   Securities Act of 1933, as amended (the ‘Securities Act’). Copies of  this
   document and any related  offering documents are not  being, and must  not
   be, directly  or  indirectly  mailed, emailed  or  otherwise  transmitted,
   distributed or forwarded  (including, without  limitation, by  custodians,
   nominees or  trustees) in  or into  the United  States or  to any  persons
   located or resident  in the United  States and may  not be  electronically
   accessed by  U.S.  persons  or  from  the  United  States.  Any  purported
   acceptance of the Buy-Back Offer or other offer or agreement to sell Bonds
   in the Buy-Back Offer resulting directly or indirectly from a violation of
   these restrictions will be  invalid, and any  purported acceptance of  the
   Buy-Back Offer and any other offer and/or agreement to sell Bonds that  is
   post-marked in  or otherwise  dispatched from,  evidences the  use of  any
   means or instrumentality of interstate  or foreign commerce of the  United
   States or  is made  by a  person appearing  or otherwise  believed by  the
   Company to be  located or  resident in the  United States,  or any  agent,
   fiduciary or other intermediary acting on a non-discretionary basis for  a
   principal giving  instructions  from  within the  United  States  will  be
   invalid and will not be accepted.

    

   The Company  will only  accept offers  with respect  to the  Bonds from  a
   Bondholder or  beneficial owner  of the  Bonds (or  any person  acting  as
   agent,  custodian,  fiduciary  or   other  intermediary  capacity  for   a
   Bondholder or  beneficial owner)  who is  not  a U.S.  person and  who  is
   outside the United States. Each person participating in the Buy-Back Offer
   will represent that it or any beneficial owner of the Bonds or any  person
   on whose behalf such person is acting  is not a U.S. person or a  resident
   and/or located  in the  United  States and  will  not be  resident  and/or
   located in the United States  at the time of  the submission of its  offer
   pursuant to the Buy-Back Offer.

    

   United Kingdom

   The information contained in  this Buy-Back Offer  does not constitute  an
   invitation or  inducement  to engage  in  investment activity  within  the
   meaning of  the United  Kingdom Financial  Services and  Markets Act  2000
   (‘FSMA’). In the  United Kingdom, this  announcement is being  distributed
   only to,  and  is directed  only  at  (i) persons  who  have  professional
   experience, knowledge and expertise in matters relating to investments and
   are ‘investment professionals’ for  the purposes of  Article 19(5) of  the
   FSMA (Financial Promotions) Order 2005 (the ‘FPO’)), (ii) persons who  are
   certified high net worth individuals for the purposes of Article 48 of the
   FPO or (iii) any other persons to  whom it may otherwise lawfully be  made
   under the FPO (all  such persons together being  referred to as  ‘relevant
   persons’). This announcement and the  Buy-Back to Bondholders is  directed
   only at relevant persons and must not be acted on or relied on by  persons
   who are not relevant persons.

    

   General

   This announcement is neither an offer to purchase nor the solicitation  of
   an offer to sell any of  the securities described herein, nor shall  there
   be any offer or sale of such securities in any jurisdiction in which  such
   offer, solicitation or sale would be unlawful. The Buy-Back Offer is  made
   solely pursuant to the Buy-Back Offer to Bondholders dated 2 October 2023.

    

   This announcement must be read in  conjunction with the Buy-Back Offer  to
   Bondholders. This  announcement  and  the Buy-Back  Offer  to  Bondholders
   contain important information  which should be  read carefully before  any
   decision is made with respect to the Buy-Back Offer. If any Bondholder  is
   in any doubt as to the action it should take, it is recommended that  such
   Bondholder seek its own  financial and legal advice,  including as to  any
   tax  consequences,  immediately  from   its  stockbroker,  bank   manager,
   solicitor, accountant or other independent financial or legal adviser. Any
   individual or company  whose Bonds  are held on  its behalf  by a  broker,
   dealer, bank, custodian,  trust company or  other nominee or  intermediary
   must contact  such entity  if it  wishes to  offer Bonds  in the  Buy-Back
   Offer. None of the Company or  the Manager makes any recommendation as  to
   whether Bondholders should participate in the Buy-Back Offer.

    

   This announcement contains forward-looking statements and information that
   is necessarily  subject  to  risks,  uncertainties,  and  assumptions.  No
   assurance can  be given  that the  transactions described  herein will  be
   consummated or  as to  the terms  of any  such transactions.  The  Company
   assumes no obligation to  update or correct  the information contained  in
   this announcement.

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          JE00B55Q3P39, NO0010894330
   Category Code: MSCM
   TIDM:          GENL
   LEI Code:      549300IVCJDWC3LR8F94
   Sequence No.:  277464
   EQS News ID:   1746869


    
   End of Announcement EQS News Service

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