Convertible Bonds

RNS Number : 5480T

Soco International PLC

07 December 2011

 

7 December 2011

SOCO International plc

("SOCO" or "the Company")

Convertible Bond Buyback

The Company announces that its wholly owned subsidiary SOCO Finance (Jersey) Limited ("the Issuer") has repurchased, in recent market transactions, in aggregate $29.5 million convertible bonds, equivalent to 11.8% of the initial nominal value of its 4.5 per cent. Guaranteed Convertible Bonds due 2013 (the "Bonds"). It is the intention of the Issuer to arrange for these Bonds to be cancelled. Following cancellation there will be a nominal value of $54.6 million of the Bonds outstanding.

 

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