Premier Oil plc and Chrysaor Holdings Ltd, and the reorganisation of Premier’s existing debt and cross-currency swaps, were completed earlier today.
Premier’s name has changed to Harbour Energy plc with effect from today.
The company’s 925,532,809 existing ordinary shares and 17,585,119,330 new ordinary shares are expected to be admitted to trading on the London Stock Exchange on 1 April under the name Harbour Energy plc.
Following completion, shares in Harbour Energy plc are approximately owned by:
· EIG Global Energy Partners 36%
· Former EIG shareholders 33%
· Former Premier creditors 18%
· Chrysaor legacy investors 8%
· Former Premier shareholders 5%
EIG Global Energy Partners’ shares in Harbour Energy plc are subject to a 12-month lock up from completion.
Shares held by certain former EIG shareholders and certain Chrysaor legacy investors, representing approximately 40% of Harbour Energy, are subject to a six-month lock up from completion.
Approximately 23% of Harbour Energy’s shares, comprising those held by former Premier shareholders and creditors, certain former EIG shareholders and certain Chrysaor legacy investors, are not subject to any lock ups.