Paladin Energy Ltd: Exercise of Optional Redemption Right in Relation to Outstanding Convertible Bonds Due 2015

PERTH, WESTERN AUSTRALIA--(Marketwired - April 17, 2015) -  Paladin Energy Ltd (TSX: PDN) (ASX: PDN) ("Paladin" or the "Company") notes that, further to the Company's announcements of March 31, 2015 and April 2, 2015 relating to the results of its tender offer (Tender Offer) for the Company's outstanding 3.625% convertible bonds due 2015 (Bonds), the Company announces the exercise of its optional redemption right in respect of the Bonds which remain outstanding following settlement of the Tender Offer.

The aggregate principal amount of the Bonds remaining outstanding is, as at the date of this announcement, US$10,750,000.00.

The Company advises that:

• the redemption date for the Bonds will be May 18, 2015;
• the Bonds will be redeemed at their outstanding principal amount plus accrued interest to the redemption date;
• the conversion price of the Bonds as at the date of this announcement is US$4.6880;
• the closing price of the Company's ordinary shares as derived from ASX on April 15, 2015 was AUD$0.355; and,
• the last day on which conversion rights may be exercised by bondholders in respect of the Bonds is May 6, 2015.

Contact

For additional information, please contact:

John Borshoff
Managing Director/CEO
Tel: +61-8-9381-4366 or
Mobile: +61-419-912-571
Email: john.borshoff@paladinenergy.com.au  

Greg Taylor
Investor Relations Contact
Tel: +1 905 337-7673 or
Mobile: +1 416-605-5120 (Toronto)
Email: greg.taylor@paladinenergy.com.au