Paladin Energy Limited: Update on 2017 Bondholder Consent Solicitation

PERTH, WESTERN AUSTRALIA--(Marketwired - May 16, 2017) - Paladin Energy Limited (Paladin or the Company) (ASX: PDN) (TSX: PDN) refers to its announcement regarding the 2017 Bondholder Consent Solicitation Memorandum on 26 April 2017 (Launch Announcement).

As at the voting deadline for the consent solicitation procedure on 16 May 2017, holders of 84% of the principal outstanding of the 2017 Convertible Bonds had voted, all in favour of approving the Extraordinary Resolutions. As the proportion of holders that had voted is less than 90% required for the Extraordinary Resolutions to pass by written resolution, the Company will proceed to a meeting of the holders of the 2017 Convertible Bonds convened for 11.00am London time on 18 May 2017, at which the Company expects that the Extraordinary Resolutions will pass given the approval requirement at a meeting of only 75%. The Company will update on the outcome of the meeting.

Yours faithfully

Paladin Energy Ltd

ALEXANDER MOLYNEUX
CEO

PALADIN ENERGY LTD ACN 061 681 098