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 Genel Energy PLC (GENL) 
Genel Energy PLC: Summons to bondholder meeting 
 
25-March-2019 / 10:04 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
25 March 2019 
 
           Genel Energy plc 
 
           Summons to bondholder meeting 
 
With reference to communication on 20 March related to a potential amendment 
of the terms of the GENEL01 $300 million senior unsecured bond, Genel Energy 
   plc ('Genel' or 'the Company') has today posted a summons to a bondholder 
     meeting to be held on 8 April 2019. For further information, please see 
                      www.stamdata.no [1]. 
 
     As previously announced, Genel has initiated a material and sustainable 
           dividend policy. Following a pre-sounding exercise towards larger 
  bondholders the Company is seeking a waiver of the dividend restriction in 
                      2019. 
 
         The dividend policy provides a meaningful and competitive return to 
 shareholders, which is appropriately commensurate with the underlying value 
    of the business without compromising Genel's ability to invest in growth 
through the progression of value realisation from the existing portfolio and 
            the acquisition of appropriate new assets, and service its debt. 
 
       As at 28 February 2019, the Company was in a net cash position of $81 
   million, with material free cash generation expected in the rest of 2019. 
 
           -ends- 
 
                      For further information, please contact: 
 
Genel Energy                          +44 20 7659 5100 
 
Andrew Benbow, Head of Communications 
 
DNB Markets                           +47 24 16 90 30 
 
Fixed income sales 
 
Pareto Securities                     +47 22 87 87 70 
 
Fixed income sales 
 
                      Notes to editors: 
 
       Genel Energy is an independent oil and gas exploration and production 
  company listed on the main market of the London Stock Exchange (LSE: GENL, 
    LEI: 549300IVCJDWC3LR8F94). The Company, with headquarters in London and 
offices in Ankara and Erbil, is one of the largest London-listed independent 
   oil producers, and is the largest holder of reserves and resources in the 
       Kurdistan Region of Iraq. Through its Bina Bawi and Miran fields, the 
     Company is positioned to be a cornerstone provider of KRI gas to Turkey 
    under the KRI-Turkey Gas Sales Agreement. Genel also continues to pursue 
      further growth opportunities. For further information, please refer to 
                      www.genelenergy.com [2]. 
 
ISIN:          JE00B55Q3P39 
Category Code: MSCU 
TIDM:          GENL 
LEI Code:      549300IVCJDWC3LR8F94 
Sequence No.:  7928 
EQS News ID:   791107 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=8456f99a1dc67e823d56c2df0802a893&application_id=791107&site_id=vwd_london&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=3ec46b352f38452116096dbbab51b09e&application_id=791107&site_id=vwd_london&application_name=news

(END) Dow Jones Newswires

March 25, 2019 06:05 ET (10:05 GMT)

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