ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

PLLL Piedmont Lithium Limited (delisted)

8.36
0.00 (0.00%)
03 Jan 2025 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Piedmont Lithium Limited (delisted) NASDAQ:PLLL NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 8.36 8.01 8.36 0 00:00:00

Parallel Petroleum Corporation Commences Change of Control Offer for Its 10 1/4% Senior Notes Due 2014

30/10/2009 7:37pm

Business Wire


Piedmont Lithium Ltd (NASDAQ:PLLL)
Historical Stock Chart


From Jan 2020 to Jan 2025

Click Here for more Piedmont Lithium Ltd Charts.

Parallel Petroleum Corporation (NASDAQ: PLLL) (“Parallel”) today announced that it has commenced a change of control offer for any and all of its outstanding $150,000,000 principal amount of 10 1/4% Senior Notes due 2014 (the “Notes”). The change of control offer is being made pursuant to Parallel’s obligations under the indenture governing the Notes, which requires Parallel to make an offer to purchase the Notes following a “Change of Control” (as defined in the indenture). A “Change of Control” occurred on October 23, 2009 as a result of the purchase of more than 50% of the outstanding shares of common stock of Parallel, including the associated preferred stock purchase rights (collectively, the “Shares”) by PLLL Acquisition Co. and PLLL Holdings, LLC, entities formed for the purpose of acquiring Parallel and wholly owned subsidiaries of an affiliate of Apollo Global Management, LLC, in connection with the tender offer for all of Parallel’s outstanding Shares.

As required by the indenture and the Notes, the purchase price with respect to each series of Notes is equal to 101% of the principal amount of such Notes, plus accrued interest payable. The payment date will be December 2, 2009.

The change of control offer will expire at 5:00 P.M., New York City time, on December 1, 2009, unless extended. The terms and conditions of the change of control offer are set forth in Parallel’s Change of Control Notice and Offer to Purchase dated October 30, 2009 and the Letter of Transmittal related thereto.

Parallel has retained Wells Fargo Bank, National Association to act as Depositary and Laurel Hill Advisory Group to act as Information Agent in connection with the change of control offer. Questions regarding how to tender the Notes subject to the change of control offer and requests for the Change of Control Notice and Offer to Purchase and other documents may be made to Wells Fargo Bank, National Association by telephone at 800-344-5128 and to Laurel Hill Advisory Group by telephone at 888-742-1305.

This announcement does not constitute an offer to buy, or a solicitation of an offer to sell, the Notes. No recommendation is made by Parallel as to whether or not holders of the Notes should tender their Notes pursuant to the change of control offer. The change of control offer is being made only by means of the Change of Control Notice and Offer to Purchase.

About Parallel Petroleum Corporation

Parallel Petroleum Corporation is an independent energy company headquartered in Midland, Texas, engaged in the exploitation, development, acquisition and production of oil and gas using 3-D seismic technology and advanced drilling, completion and recovery techniques. Parallel’s primary areas of operation are the Permian Basin of West Texas and New Mexico, North Texas Barnett Shale, Onshore Gulf Coast of South Texas, East Texas and Utah/Colorado. Additional information on Parallel is available via the internet at www.plll.com.

1 Year Piedmont Lithium Ltd Chart

1 Year Piedmont Lithium Ltd Chart

1 Month Piedmont Lithium Ltd Chart

1 Month Piedmont Lithium Ltd Chart

Your Recent History

Delayed Upgrade Clock