PERTH, WESTRN AUSTRALIA--(Marketwired - September 08, 2015) - Paladin Energy Limited (Paladin or the Company) (ASX: PDN) (TSX: PDN) announces the repurchase of a principal amount of US$20,000,000 (the Repurchase) of its outstanding US$274,000,000 6.00% Convertible Bonds due 2017 (the 2017 Convertible Bonds).

The cash expenditure for the Repurchase was approximately US$18.5 million as the bonds were bought back at an average price of 90.2 per cent. The Repurchase has resulted in approximately US$3.9 million of cash savings to Paladin in the form of avoided principal and coupon payments over the period to maturity of the 2017 Convertible Bonds.

The Company undertook the Repurchase to take advantage of recent trading conditions, which resulted in the 2017 Convertible Bonds trading at a discount to their face value. Due to the opportunistic nature of the initiative, the impact (and net savings) was not included in the FY2016 guidance provided FY2015 annual results release made on 27 August 2015.

The 2017 Convertible Bonds (ISIN: XS0775195562) were issued on 30 April 2012 and are listed on the Singapore Exchange Securities Trading Limited.

The settlement date for the Repurchase is expected to take place on or about 9 September 2015 or such other date as may be agreed with the repurchase agent. Upon settlement for the Repurchase, the repurchased 2017 Convertible Bonds will be cancelled.

Paladin has funded the consideration payable for the Repurchase from its internal cash resources.

None of the Directors or the substantial shareholder of Paladin have any interest, direct or indirect, in the Repurchase.

Yours faithfully
Paladin Energy Ltd

Interim CEO

Contact Information:

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