TIDMXEL

RNS Number : 7869C

Xcite Energy Limited

30 June 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

LSE-AIM: XEL

30 June 2016

Xcite Energy Limited

("Xcite Energy" or the "Company")

Result of Bondholder Meeting

Xcite Energy announces that holders (the "Bondholders") of the $135 million senior secured bonds (the "Bonds") have approved the amendments to the bond agreement dated 27 June 2014 (the "Bond Agreement"). The maturity date of the Bonds has been extended until 30 September 2016 in order to continue negotiations with the Bondholders.

There were sufficient Bondholders present at the meeting to hold a quorum. The proposed resolution obtained 100% of the votes, and the proposal was adopted according to the voting requirements of the Bond Agreement.

 
 
 ENQUIRIES: 
                                        +44 (0) 1483 
  Xcite Energy Limited                       549 063 
 Rupert Cole / Andrew 
  Fairclough 
 
                                         +44 (0) 203 
 Liberum (Joint Broker and Nomad)           100 2222 
 Clayton Bush / Jamie 
  Richards 
 
 Morgan Stanley (Joint                   +44 (0) 207 
  Broker)                                   425 8000 
 Andrew Foster 
 
                                         +44 (0) 203 
 Bell Pottinger                             772 2500 
 Henry Lerwill

Forward-Looking Statements

This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil and gas exploration and production business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to it at this time, the actual outcome may be materially different owing to factors beyond the Company's control, or otherwise within the Company's control, for example, if the Company decides on a change of plan or strategy. Accordingly, no reliance may be placed on the figures contained in such forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

June 30, 2016 04:16 ET (08:16 GMT)

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