Maurel & Prom: Implementation of the early redemption of 2019 ORNANE and 2021 ORNANE

Paris, le 29 December 2017
 N°24-17

Implementation of the early redemption
of 2019 ORNANE and 2021 ORNANE

• Early redemption, effective 12 February 2018, of all outstanding bonds convertible into new shares and/or exchangeable for existing shares with a maturity date on July 1, 2019 (ISIN FR0011973577, the "2019 ORNANE") and of bonds convertible into new shares and/or exchangeable for existing shares with maturity date on July 1, 2021 (ISIN FR0012738144, the "2021 ORNANE")

The Maurel & Prom Group (Euronext Paris: MAU, ISIN FR0000051070) ("Maurel & Prom") announces the implementation of the early redemption, effective 12 February 2018, of all outstanding 2019 ORNANE and 2021 ORNANE, for which the conversion right has not been exercised, in accordance with their terms and conditions.

Following the repurchase of 2019 ORNANE and 2021 ORNANE held by PT Pertamina Internasional Eksplorasi dan Produksi, announced on 21 December 2017, and their cancellation, the number of outstanding 2019 ORNANE and 2021 ORNANE being respectively less than 10% and 15% of the 2019 ORNANE and the 2021 ORNANE initially issued, Maurel & Prom decided, in accordance with the terms and conditions of the 2019 ORNANE and the 2021 ORNANE, to opt for their early redemption. Maurel & Prom informs the holders of 2019 ORNANE and 2021 ORNANE that it has opted for payment in cash to those holders who would exercise their conversion right within the time limit provided for by the 2019 ORNANE and 2021 ORNANE terms and conditions.

The 2019 ORNANE and the 2021 ORNANE for which the conversion right has not been exercised will be redeemed in cash on 12 February 2018, at par plus accrued interest since the most recent interest payment date (i.e. €17.2923 per 2019 ORNANE and €11.0549 per 2021 ORNANE) and will then be cancelled in accordance with their terms and conditions.

For more information, visit www.maureletprom.fr

Contacts

MAUREL & PROM
Press, shareholder and investor relations
Tel: +33 (0)1 53 83 16 45                                                                 
ir@maureletprom.fr                                                     

NewCap
Financial communications and investor relations                
Julie Coulot/Louis-Victor Delouvrier
Tel: +33 (0)1 44 71 98 53                                                                 
maureletprom@newcap.eu

Media relations
Nicolas Merigeau
Tel: +33 (0)1 44 71 94 98
maureletprom@newcap.eu

This document may contain forward-looking statements regarding the financial position, results, business and industrial strategy of Maurel & Prom. By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors, such as fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism and sabotage.

Maurel & Prom is listed for trading on Euronext Paris
CAC All-Share - CAC Oil & Gas - Next 150 - PEA-PME and SRD eligible
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA