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FESCO signed agreements with ruble bonds holders BO-01 for deferring defaulted payments until October, 2017

23 May 2017

FESCO PLC (the “Company”) announces signing an amendment agreement to the novation agreement №01 dated January 17, 2017 and a novation agreement №02 with the representative of the holders of the Company ruble bonds, series BO-01 (the “Bonds”), for deferring defaulted payments until October 27, 2017.

The defaulted payments include obligations under the novation agreement №01 dated January 17, 2017 (related to the third coupon) and the payment of the fourth coupon, both originally due on April 27, 2017. Following the results of the general meeting of holders of the Company Bonds, which took place on May 18, 2017, the holders supported the proposal of the Company to defer the both payments until October 27, 2017 and enter into agreements to documents the same.

The Сompany expresses gratitude to the bondholders for this decision.

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