Afren : 02.07.2015 Afren granted permission to convene scheme meeting

Microsoft Word - EMEA_100489862_1.DOCX AFREN PLC

Kinnaird House, 1 Pall Mall East, London SW1Y 5AU, United Kingdom

Tel: [phone]

Fax: [phone]

AFREN PLC GRANTED PERMISSION TO CONVENE SCHEME MEETING

LONDON - 2 July 2015 - Afren plc (the 'Company')

Scheme Meeting

The Company is pleased to announce that the High Court of Justice in England and Wales has issued an order dated 30 June 2015 granting the Company certain directions in relation to a scheme of arrangement under Part 26 of the UK Companies Act 2006. The proposed scheme of arrangement relates to the proposed financial restructuring of the Company's (a) 11.5% senior secured notes due 1 February 2016 (b) 10.25% senior secured notes due 8 April 2019 and (c)

6.625% senior secured notes due 9 December 2020.

The Court's directions include permission to convene a single meeting for Scheme Creditors for the purpose of considering and, if thought fit, approving the scheme of arrangement. The Scheme Meeting will be held on 29 July 2015.

Further details of the Scheme Meeting are provided in the Notice of Scheme Meeting attached to this press release. The Scheme, Account Holder Letter, Explanatory Statement and related documents are available from the Company's information agent, Lucid Issuer Services Limited, whose contact details are provided below. Scheme Creditors can download such documents on the website for the Scheme Creditors at www.lucid-is.com/afren.

Contact Details

Information Agent

Lucid Issuer Services Limited Sunjeeve Patel / Yves Theis Tel: [phone]

Email: [e-mail]
Scheme Website: www.lucid-is.com/afren

IN THE HIGH COURT OF JUSTICE Claim No. 4331 of 2015 CHANCERY DIVISION COMPANIES COURT IN THE MATTER OF AFREN PLC - and - IN THE MATTER OF THE COMPANIES ACT 2006

Capitalised terms used in this N otice of Scheme Meeting have the same meanings as in the proposed scheme of arrangement under Part 26 of the Act between Afren plc ('Afren') and the Scheme Creditors (the 'Scheme').
NOTICE IS HEREBY GIVEN that, by an order dated 30 June 2015 made in the above matter, the Court has directed that the Scheme Meeting shall be convened for the purpose of considering and, if thought fit, approving (with or without modification) the Scheme.
The Scheme Meeting will be held at the offices of White & Case LLP at 5 Old Broad Street, London EC2N 1DW, United Kingdom on 29 July 2015 and commencing at 8:30 a.m. (London time). All Scheme Creditors are requested to attend the Scheme Meeting either in person or by proxy.
Scheme Creditors may vote in person at the Scheme Meeting or they may appoint another person, whether a Scheme Creditor or not, as their proxy to attend and vote in their place. Each Scheme Creditor or his proxy will be required to register his attendance at the Scheme Meeting prior to its commencement. Registration will commence at 8:00 a.m. (London time) on the date of the Scheme Meeting.
Scheme Creditors are requested to ensure that Account Holder Letters are completed and submitted to Lucid Issuer Services Limited (Attention of: Sunjeeve Patel / Yves Theis), Leroy House, 436 Essex Road, London N1 3QP (fax: + 44 (0)20 7067 9098; email: [e-mail]) by no later than 5:00 p.m. (London time) / 12:00 p.m. (New York time) on 28 July 2015 in accordance with the instructions set out in the Account Holder Letter.
Copies of the Scheme, Account Holder Letter and the explanatory statement, required to be provided to Scheme Creditors pursuant to section 897 of the Companies Act, are available from Lucid Issuer Services Limited and Scheme Creditors can download such documents on the website for the Scheme Creditors at www.lucid-is.com/afren.
By the said order, the Court has appointed Anne Vallely or, failing her, Christian Pilkington to act as chairman of the Scheme Meeting and has directed the chairman to report the result of the Scheme Meeting to the Court. The Scheme will be subject to the subsequent approval of the Court.

Contact Details

Information Agent

Lucid Issuer Services Limited

Sunjeeve Patel / Yves Theis
Tel: [phone]
Email: [e-mail]
Scheme Website: www.lucid-is.com/afren

About Afren plc

Afren plc is a company incorporated under the laws England and Wales and registered at Companies House under number 05304498. Afren plc's registered office is Kinnaird House, 1 Pall Mall East, London SW1Y 5AU (Telephone [phone]; Fax [phone]).