Redemption of convertible debt obligation (8233W)

TIDMGED

RNS Number : 8233W

Global Energy Development PLC

06 February 2012

 
 For Immediate Release   6 February 2012

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company")

EARLY REDEMPTION OF REMAINING CONVERTIBLE DEBT OBLIGATION

Global Energy Development PLC, the Latin America focused petroleum exploitation, development and production company (LSE-AIM: "GED") is pleased to announce it has exercised the option to redeem the outstanding principal amount of its remaining Variable Coupon Convertible Notes Due 2012 (the "Notes") totaling US$9,561,000. The Notes will be redeemed for cash on 5 March 2012 (the "Redemption Date") at the principal amount of the Notes together with interest accrued up to (but excluding) the Redemption Date.

Steve Voss, Managing Director, commented, "The redemption of these notes reduces the short-term debt on our balance sheet and extinguishes all debt convertible into equity."

INVESTOR PRESENTATION AVAILABLE ON WEBSITE

The Company is also pleased to announce it has updated a presentation to its investors regarding the Company and its operations. The shareholder presentation is now available to view on the Company's website at www.globalenergyplc.com.

For further information:

Global Energy Development PLC

 
 Anna Williams, Director of Business 
   Development                           +001 817 310 0240 
  awilliams@globalenergyplc.com 
   www.globalenergyplc.com

Buchanan

 
 Tim Thompson        +44 (0)20 7466 5126 
 Ben Romney          +44 (0)20 7466 5132 
 
 
 Northland Capital Partners Limited 
                                       +44 (0)20 7796 
 Louis Castro                           8800

Lauren Kettle

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEAAALEAAAEFF

Global Energy Development (LSE:GED)
Historical Stock Chart
From May 2024 to Jun 2024