Early Redemption Of Debt Obligation (4265Q)
October 19 2011 - 2:00AM
UK Regulatory
TIDMGED
RNS Number : 4265Q
Global Energy Development PLC
19 October 2011
For Immediate Release 19 October 2011
GLOBAL ENERGY DEVELOPMENT PLC
(the "Company")
EARLY REDEMPTION OF DEBT OBLIGATION
Global Energy Development PLC, the Latin America focused
petroleum exploitation, development and production company
(LSE-AIM: "GED") is pleased to announce it is irrevocably
exercising the option to redeem all of the outstanding
(U.S.$5,798,000) principal amount of its Variable Coupon
Convertible Notes Due 2012 (the "Notes") of the Company on 15
November 2011 (the "Redemption Date"). The Notes will be redeemed
for cash at the principal amount of the Notes together with
interest accrued up to (but excluding" the Redemption Date.
Steve Voss, Managing Director, commented, "We are pleased to be
able to reduce our outstanding debt obligations from our increased
cash balance and to still pursue our near-term development plans
out of remaining cash on hand and increased cash flow from
operations."
For further information:
Global Energy Development PLC
Anna Williams, Director of
Business Development +001 817 310 0240
awilliams@globalenergyplc.
com
www.globalenergyplc.com
Buchanan Communications
Tim Thompson +44 (0)20 7466 5126
Ben Romney +44 (0)20 7466 5132
Northland Capital Partners Limited
Louis Castro +44 (0)20 7796
8800
Lauren Kettle +44 (0)20 7796 8830
This information is provided by RNS
The company news service from the London Stock Exchange
END
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