Petropavlovsk appoints joint administrators, creditor meeting in January

Chicago, Dec. 21 – Petropavlovsk plc announced that the High Court of Justice in London ordered the appointment of Mr. Allister Manson and Mr. Gareth Wilcox, both of Opus Restructuring LLP, as joint administrators of Petropavlovsk 2010 Ltd. and Petropavlovsk 2016 Ltd., according to a release.

There was also an order from the court that the companies may convene creditor meetings on Jan. 11 to consider and vote on a scheme of arrangement.

Petropavlovsk 2010 Ltd. is the issuer of $125 million 8.25% guaranteed convertible bonds due 2024 and Petropavlovsk 2016 Ltd. is the issuer of $500 million 8 1/8% guaranteed notes due 2022 (ISIN: XS1711554102).

Copies of the practice letter are available at https://i2capmark.com/event-details/ 84/Holder/petropavlovsk-plc or at the company’s website.

Questions may be addressed to Opus Business Advisory Group (+44 7967 658 296, petrojersey@opusllp.com) or the company (+44 20 7201 8900, +44 20 3633 1212, petropavlovsk@i2capmark.com).

Petropavlovsk is a major integrated Russian gold producer.

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