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2016-11-14

EnQuest PLC: Scheme Meeting Results

ENQUEST PLC, 14 November 2016

Approval of the Scheme of Arrangement at the Scheme Meeting

US$650,000,000 7 per cent. Senior Notes due 2022 (CUSIP: Rule 144A
Notes: 29357JAA4;

Regulation S Notes G315APAB4; ISIN: Rule 144A Notes US29357JAA43;
Regulation S Notes

USG315APAB40) (the "High Yield Notes")

And

£155,000,000 5.50 per cent. Notes due 2022 (XS0880578728, Common Code:
088057872)

(the "Retail Notes")

Further to the announcement issued by the Company on 24 October 2016,
a meeting of the holders of the Company's High Yield Notes (the "High
Yield Noteholders") and the holders of the Company's Retail Notes
(the "Retail Noteholders") was convened for today (the "Scheme
Meeting") to vote on the Scheme proposed by the Company in connection
with the Restructuring.

The Company is pleased to announce that the Scheme was approved by the
relevant Scheme Creditors at the Scheme Meeting.

A total of 1,931 Scheme Creditors voted (in person or by proxy),
representing approximately 84.91% of the Scheme Claims across the
High Yield Notes and the Retail Notes. 1,929 of those Scheme
Creditors voted in favour, representing approximately 99.90% by
number and 99.87% by value of the votes cast. Accordingly, the Scheme
was approved by more than a majority in number representing at least
75% in value of Scheme Claims of those Scheme Creditors present and
voting at the Scheme Meeting either in person or by proxy.

Successful completion of the Scheme is now conditional on, among other
things, the Scheme being sanctioned by the Court in its discretion at
the Scheme Sanction Hearing and the Scheme becoming effective and
unconditional in accordance with its terms. As noted in the
announcement issued by the Company on 13 October 2016, each of the
elements of the Restructuring (of which the Scheme is an integral
part) are inter-conditional, meaning that the Scheme will only become
effective if each of the other elements of the Restructuring are
approved and/or completed.

The Scheme Sanction Hearing is scheduled to take place in the
Companies Court, Chancery Division of the High Court of Justice of
England and Wales on 16 November 2016. A further announcement will be
made in due course confirming the time and details of the Scheme
Sanction Hearing.

Capitalised terms used but not defined in this announcement have the
meaning given to them in the Practice Statement Letter.

Enquiries:

Information Agent:
Lucid Issuer Services Limited
David Shilson
Email: enquest@lucid-is.com
Telephone: +44 (0) 20 7704 0880
Scheme Website: www.lucid-is.com/enquest

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http://news.cision.com/enquest-plc/r/scheme-meeting-results,c2122288
http://mb.cision.com/Main/344/2122288/589542.pdf

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