Home / Mining Company News Releases (Unreviewed) / Request for Voluntary Suspension

Request for Voluntary Suspension

PERTH, WESTERN AUSTRALIA–(Marketwired – June 12, 2017) – Paladin Energy Limited (Paladin or the Company) (ASX: PDN) (TSX: PDN) refers to its previous announcements regarding its efforts to achieve a long term debt restructure solution for the benefit of all stakeholders. In particular, Paladin refers to the recent independent expert findings that the value of the security offered by Paladin to Électricité de France S.A. (EDF) under its Long Term Supply Contract is insufficient.

The Company requests a voluntary suspension of its securities from trading on the ASX effective immediately pending resolution of this matter. Paladin advises that:

  1. Paladin has approached EDF to negotiate the terms of a standstill to defer Paladin’s obligation to pay the outstanding amount (being approximately US$277 million). Pending resolution of this matter, there is uncertainty regarding Paladin’s ability to successfully achieve any debt restructure, the outcome of which is critical to Paladin’s continued financial viability.
  2. Paladin is currently taking advice on the above and expects the voluntary suspension will continue until it has resolved how to progress the standstill. Paladin currently expects that this may take until at least the end of June 2017.
  3. Paladin is not aware of any reason why the securities should not be suspended.
  4. Paladin is not aware of any other information necessary to inform the market about the suspension at this time.

Yours faithfully,

Paladin Energy Ltd

Group Company Secretary


For additional information, please contact:
Andrew Mirco
Investor Relations Contact (Perth)
Tel: +61-8-9423-8162 or Mobile: +61-409-087-171
Email: [email protected]



Disclaimer: This is an unedited and minimally reviewed public mining company press release originally published at http://feeds.mwnewsroom.com/article/rss?id=2149588. We have linked to our knowledge base articles from within the content of this release in order to help explain some of the terminology used and provide continuity from previous and related news coverage. You can access more in-depth mining company project reviews on our site, as well a knowledge base of articles on mineral exploration, mining and geology-related topics.

About Staff @ Geology for Investors

Geology for Investors seeks to demystify mineral exploration and mining projects for mining company investors. All of our writers and contributors are experienced and educated in geology and the geosciences.