Sainsbury(J) PLC Convertible Bond Adjustment (7153W)
November 16 2017 - 6:30AM
UK Regulatory
TIDMSBRY
RNS Number : 7153W
Sainsbury(J) PLC
16 November 2017
J Sainsbury plc announces adjustment of Conversion Price to
holders of GBP450,000,000 1.25 per cent. Convertible Bonds due
2019
J Sainsbury plc (the "Company") hereby announces (the "Notice")
to the holders of its GBP450,000,000 1.25 per cent. Convertible
Bonds due 2019 (ISIN: XS1139087933 / Common Code: 113908793) (the "
Bonds").
Adjustment of Conversion Price
On 9(th) November 2017, the Company announced that on 2(nd)
January 2018 it would pay an interim dividend of 3.1 pence per
Ordinary Share to Shareholders on the register of members on the
record date of 17(th) November 2017.
In accordance with the terms and conditions of the Bonds (the
"Conditions"), notice is hereby given with respect to Condition
6(b)(iii)(A), which requires an adjustment to be made to the
Conversion Price if the Company shall pay any Dividend to the
Shareholders, provided that such adjustment (rounded down if
applicable) would be equal to, or more than, 1 per cent of the
Conversion Price then in effect.
The current Conversion Price is 313.5056 pence per Ordinary
Share.
From and including 16(th) November 2017, being the Effective
Date, the Conversion Price will be adjusted to 309.2599 pence per
Ordinary Share. All other Conditions of the Bonds remain
unchanged.
Conversion Agent
The Bank of New York Mellon, London Branch
Effective Date of Adjustment of Conversion Price
The adjustment to the Conversion Price will become effective on
16(th) November 2017.
Defined terms
Unless otherwise defined in this Notice, terms used in this
Notice have the meanings given to them in the Conditions.
This announcement is given by:
J Sainsbury plc
33 Holborn
London
EC1N 2HT
Contacts
J Sainsbury plc
------------------------------------------------------------------------------
Natalie Retail +44 (0) 20
Shinton Treasurer Natalie.Shinton@sainsburys.co.uk 7695 7704
--------------- ------------ ---------------------------------- -----------
Head of
Investor +44 (0) 20
James Collins Relations James.Collins@sainsburys.co.uk 7695 7112
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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