5th Oct 2007 17:22
Peter Hambro Mining PLC05 October 2007 THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE RUSSIAN FEDERATION OR JAPAN OR TO US, CANADIAN, AUSTRALIAN, RUSSIAN OR JAPANESE PERSONS Friday, 5 October 2007 PETER HAMBRO MINING PLC PRICING OF GOLD EQUIVALENT EXCHANGEABLE BONDS OFFERING Peter Hambro Mining Plc (the "Company"), announces that further to theannouncement made earlier today, the placing of Gold Equivalent ExchangeableBonds due 2012 (the "Bonds") has been successfully upsized to US$170m, with agreenshoe of US$10m. Commenting on the transaction, the Company's Executive Chairman, Peter Hambro,said: "The Company is delighted with the response from investors to this importanttransaction." The Bonds will be issued at par by the Company's wholly-owned subsidiary PeterHambro Mining Group Finance Limited (the "Issuer") and will be guaranteed by theCompany. The Bonds will carry a coupon of 7% per annum payable semi-annually inarrear and will be exchangeable at the option of the holders into the cashequivalent at the time of the exchange of (in aggregate) 150,000 Troy ounces ofgold at any time from the second anniversary of the settlement of the bonds upuntil 20 days prior to the maturity of the Bonds. The conversion price ofUS$1,000 per Troy ounce represents a premium of approximately 38% to yesterday'sLondon afternoon gold price fixing. The Issuer has the option to call the Bondsat par plus accrued interest after the fourth anniversary of the settlementprovided that the London afternoon gold price fixing reaches a level of US$1,500per Troy ounce, with investors retaining the right to convert within the 30 daycall period. If not exchanged or previously redeemed the Bonds will be redeemedat par on or about 19 October 2012. It is intended that application will be made in due course for the Bonds to beadmitted to trading on the Channel Islands Stock Exchange, but not on any otherstock exchange. The Company intends to use the net proceeds of the offering for the developmentof its Malomir deposit and its Yamal assets, the modular enlargement of itsprocessing facilites at Pioneer and to fund the exploration and development of anumber of other assets within the Group's portfolio. JPMorgan Cazenove Limited is acting as the sole bookrunner of the offering andis joint broker to the Company. Cannacord Adams Inc. and VTB Bank Europe plc areacting as co-lead managers. Settlement is expected on or about 19 October 2007,following receipt of the necessary consent to the raising of the proposed fundsfrom the Guernsey Financial Services Commission. JPMorgan Cazenove Limited may, to the extent permitted by applicable law,over-allot and effect other transactions with a view to supporting the marketprice of the Bonds at a higher level than that which might otherwise prevail inthe open market. JPMorgan Cazenove Limited is not required to enter into suchtransactions. Such activity if commenced may be discontinued at any time. Inconnection with the offer of Bonds, the Company and the Issuer have agreed toover-allotments being made and the Issuer has agreed to issue up to US$10madditional Bonds to satisfy such over-allotments if required at the option ofJPMorgan Cazenove Limited. - END - For further information: Alya Samokhvalova Peter Hambro Mining T: +44 207 201 8900 Tom Randell Merlin Financial T: +44 207 653 6620 Ian Hannam JPMorgan Cazenove T: +44 207 588 2828Patrick Magee JPMorgan CazenoveJoe Seifert JPMorgan Cazenove THIS DOCUMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THEUNITED STATES. THIS DOCUMENT IS NOT AN OFFER OF SECURITIES FOR SALE INTO THEUNITED STATES. THE SECURITIES DESCRIBED IN THIS DOCUMENT MAY NOT BE OFFERED ORSOLD IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS(AS SUCH TERM IS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933,AS AMENDED) UNLESS THEY ARE REGISTERED OR EXEMPT FROM REGISTRATION. THERE WILLBE NO PUBLIC OFFER OF SECURITIES IN THE UNITED STATES. The distribution of this document and other information in connection with theBonds in certain jurisdictions may be restricted by law and persons into whosepossession any document or other information referred to herein comes shouldinform themselves about and observe any such restrictions. Any failure to complywith these restrictions may constitute a violation of the securities laws of anysuch jurisdiction. This document is directed only at persons who (i) are outside the United Kingdomor (ii) have professional experience in matters relating to investments or towhom this document may otherwise be directed without contravention of section 21of the Financial Services and Markets Act 2000 (all such persons together beingreferred to as "Relevant Persons"). This document is directed only at RelevantPersons and must not be acted on or relied on by persons who are not RelevantPersons. Any investment or investment activity to which this document relates isavailable only to Relevant Persons and will be engaged only with RelevantPersons. In addition, if and to the extent that this document is communicatedin, or the offered securities to which it relates is made in, any EEA memberstate that has implemented Directive 2003/71/EC (together with any applicableimplementing measures in any member state, the "Prospectus Directive"), thisdocument and the Bonds are only addressed to and directed at persons in thatmember state who are qualified investors within the meaning of the ProspectusDirective (or who are other persons to whom the offer may lawfully be addressed)and must not be acted on or relied on by other persons in that member state. This document does not constitute or form part of an offer to sell, or thesolicitation of an offer to subscribe for, any securities to any person in theUnited States or in any jurisdiction to whom or in which such offer orsolicitation is unlawful. None of the securities described herein have been orwill be registered under the U.S. Securities Act of 1933 (as amended) (the"Securities Act") or under the securities laws or with any securities regulatoryauthority of any state or other jurisdiction of the United States or of anyprovince or territory of Australia, Canada or Japan. The securities describedherein are being placed and sold only outside the United States to non-U.S.persons in offshore transactions in reliance on Regulation S under theSecurities Act. None of the securities described herein may be offered or soldin the United States or to U.S. persons absent an exemption from the applicableregistration requirements of the Securities Act. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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