Rose Petroleum plc

Rose Petroleum plc Convertible loan note

6-June-2014

Rose Petroleum plc Convertible loan note

Rose Petroleum plc (AIM Ticker: ROSE) is pleased to announce that it has received notice from the holders of its convertible loan note to convert the outstanding loan notes in full.

Rose currently has a convertible loan note outstanding for £1m issued to Geiger Counter Limited in May 2012 which was due to be repaid at end of May 2017 (the "Convertible Loan"). Further details of the Convertible Loan are set out in the Company's announcement on 23 May 2012. Half of the Convertible Loan was subsequently transferred to City Natural Resources High Yield Trust plc.

The Convertible Loan is convertible by the holders at any time, into 80 million ordinary shares in Rose at a price of 1.25p (a 34 per cent premium to the mid-market price of 0.935p per ordinary share as at the close of business on 22 May 2012 being the day immediately before the Convertible Loan was entered into).

At the expiry of 10 business days from the notice being given, which was 5 June 2014, the Company shall allot and issue the ordinary shares under the Convertible Loan (the "Shares") and make an application for the Shares to be admitted to trading on AIM as soon as reasonably practical. Interest will continue to accrue until the issue of the Shares and will be paid in full on that date. The Convertible Loan will be cancelled in full at that time and the Company will have no outstanding convertible loan notes.

For further information, please contact:

Rose Petroleum Plc +44 (0) 20 7225 4595
Matthew Idiens, CEO


Allenby Capital (Nominated Adviser & Joint Broker) +44 (0) 20 3328 5656 Jeremy Porter / Alex Price

Pareto Securities (Joint Broker) +44 (0) 207 786 4370
Guy Wilkes

Lionsgate Communications (Public Relations) +44 (0) 20 3697 1209 Jonathan Charles / Lynn Carratt