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AFRNF.PK on OTC Markets Group

6 Jan 2017
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Latest Key Developments (Source: Significant Developments)

Afren plc announces final amount of the new senior notes
Friday, 29 May 2015 02:00am EDT 

Afren plc:Says that, further to its announcement of April 30, holders of the Company's 2016 notes, 2019 notes and 2020 notes have agreed to subscribe for further new senior notes up to maximum level permitted of $369 million.Says this will result in the company receiving an additional $93 million in net cash proceeds compared to the amount announced on April 30.Says proceeds from new senior notes will be used to re-finance the interim funding announced on March 13, fund development of the company's core producing assets and for general working capital purposes.Says additional net cash proceeds will also be applied to provide additional working capital and fund lower risk developments with strong return potential.  Full Article

Afren PLC gives FY 2015 production guidance
Friday, 13 Mar 2015 03:00am EDT 

Afren PLC:Expects FY 2015 net production guidance of between 29 to 36 kbopd.  Full Article

Afren plc announces termination of discussions with SEPLAT Petroleum Development Company plc
Friday, 13 Feb 2015 09:13am EST 

Afren plc:Receives a highly preliminary approach from SEPLAT Petroleum Development Company plc regarding a possible combination with Afren.Says further to Afren's announcement on Jan. 30, Seplat was required, by not later than 5.00 p.m. on Feb. 13 , to either announce a firm intention to make an offer for Afren under Rule 2.7 of the Code;.Or announce that it does not intend to make an offer for Afren, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.Seplat has requested an extension to the Deadline.Board has not received any proposal from Seplat that it believes is capable of being implemented on terms satisfactory to all relevant stakeholders in the Company, including the indicated value being significantly below the aggregate value of the debt of the Company.Accordingly, the has concluded that continuing discussions with Seplat is not in best interests of Company's stakeholders and will not agree to Seplat's request for an extension of the Deadline.This announcement is made without Seplat's consent.Company is continuing discussions with the advisers to the ad hoc committee of its largest bond holders regarding the immediate liquidity and funding needs of the business.Company is also having discussions with its existing stakeholders and new third party.  Full Article

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