Notice of Call Option

To:           Norsk Tillitsmann ASA           
                P.O. Box 1470 Vika
                N-0116 Oslo
                Norway
 

                                (the "Bond Trustee") 

NOTICE OF CALL OPTION

21st May 2019

Dear Sirs

Redemption of the Bond Issue in Whole

1.              INTRODUCTION

1.1            We refer to the bond agreement dated 5 December 2013 between Salamander Energy plc as Issuer and the Bond Trustee on behalf of the Bondholders in relation to the issue of 9.75 per cent Unsecured Callable Bonds (the "Bond Agreement").

1.2            Unless otherwise defined, capitalised terms used in the Bond Agreement have the same meaning when used in this notice.

2.              CALL OPTION

2.1            In accordance with clause 10.2.1 (Call Option) of the Bond Agreement, we hereby give you notice that Salamander Energy Plc will  redeem the Bond Issue in whole on Tuesday 11th June 2019. Per the Bond agreement clause 10.2.1 (d) the settlement date will fall prior to 30th June 2019, and the settlement amount will be at a price equal to 101.625% of par value (plus accrued interest on the redeemed Bonds).

2.2            We hereby request that you confirm receipt of this notice by counter-signing this notice.

2.3            Clauses 18.7 (Dispute resolution and legal venue) and 18.8 (Process Agent) of the Bond Agreement shall apply mutatis mutandis to this notice except that any references therein to "this Bond Agreement" shall, for the purposes of this notice, be deemed to be a reference to "this notice". 

Yours faithfully,

………………………………………………………………………………
Signed for and on behalf of Salamander Energy plc

We hereby acknowledge receipt of the Notice.

……………………………………………………………………………….

Signed for and on behalf of Norsk Tillitsmann ASA

Date: ……………………………………………… 2019                

Please see the associated PDF to view the announcement in full

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