Result of Noteholder Meeting/Offer to Sell (6348P)

TIDM74JJ

RNS Number : 6348P

Petrol AD

05 October 2011

PETROL AD ANNOUNCES RESULTS RELATING TO ITS INVITATION FOR OFFERS TO SELL NOTES AND SOLICITATION OF CONSENTS IN RELATION TO NOTES

NOT FOR DISTRIBUTION TO ANY UNITED STATES PERSON OR TO ANY PERSON RESIDENT AND/OR LOCATED IN THE UNITED STATES. CAPITALISED TERMS USED IN THIS ANNOUNCEMENT UNLESS DEFINED IN THIS NOTICE HAVE THE MEANINGS ASCRIBED TO THEM IN THE INVITATION MEMORANDUM PRODUCED BY PETROL (AS DEFINED BELOW) DATED 13 SEPTEMBER 2011 (THE "INVITATION MEMORANDUM")

5 October 2011

Further to the announcement made by Petrol AD ("Petrol") on 13 September 2011, Petrol is pleased to announce that at a meeting of the holders of the EUR100,000,000 8.375 per cent. Guaranteed Notes due 2011 (the "Notes") (ISIN: XS0271812447 and Common Code: 027181244) issued by Petrol and guaranteed by Naftex Petrol EOOD, of which EUR98,817,000 of the Notes are currently outstanding, held today at the offices of Clifford Chance LLP, 10 Upper Bank Street, London E14 5JJ, United Kingdom at 10:00 a.m. (London time) the Extraordinary Resolution set out in the Notice of Meeting previously notified to holders of the Notes (the "Noteholders") in accordance with the terms of the Trust Deed for such Notes was duly passed. Accordingly, the modifications and amendments referred to in the Extraordinary Resolution will be implemented with effect on and from 6 October 2011.

Petrol is further pleased to announce that it accepts all offers to sell Notes made in accordance with the terms and conditions set out in the Invitation Memorandum. Accordingly, Noteholders who validly tendered their Notes before the Expiration Time in accordance with the terms and conditions set out in the Invitation Memorandum will receive the Purchase Price being EUR850 per EUR1,000 in principal amount of the Notes, together with an amount equal to Accrued Interest on the Settlement Date (as defined below).

Settlement is expected to occur on or around 12 October 2011 (the "Settlement Date").

For further information:

A complete description of the terms and conditions of the Invitation and of the Proposals is set out in the Invitation Memorandum. Further details about the transaction can be obtained from:

The Dealer Manager:

Adamant Capital Partners AD

Attn: Tatyana Stanoykova

Tel: +359 2 422 5970

Email: tstanoykova@acp.bg

The Tender and Tabulation Agent

The Bank of New York Mellon

Tel: +44 (0)20 7964 4958

Email: debtrestructuring@bnymellon.com

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO PURCHASE ANY SECURITIES OR A SOLICITATION OF AN OFFER TO SELL ANY SECURITIES.

This information is provided by RNS

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