ASX-listed uranium miner Paladin on Thursday issued an amendment to the consent solicitation to introduce a consent fee payable to each noteholder who votes in favour of the resolution set out in the consent solicitation.
In July, Paladin launched a consent solicitation to its noteholders pursuant to which it sought consent to certain waivers and release under the terms of the note to facilitate the sale of its shares in Paladin (Africa) to Lotus Resources, a subsidiary of Hylea Metals.
In June, Paladin entered into an agreement to sell its 85% interest in the Kayelekera mine, in Malawi, through a sale of its shares in Paladin (Africa).
The consent fee will be for an amount equal to 1% of the aggregate principal amount of notes outstanding to that noteholder in respect of which the noteholder has submitted votes in favour of the resolution.
The consent fee is payable only if the waivers and release in the consent solicitation are approved by the requisite majority of noteholders and if the share sale completes.
Subject to these conditions, the consent fees will be payable following completion of the share sale.
The consent solicitation has also been amended to extend the date for the meeting of the noteholders to August 29 and the deadline by which voting instructions must be submitted to August 27.