Sainsbury(J) PLC Perpetual Subordinated Convertible Bond Adjustment (2713G)
November 19 2015 - 4:38AM
UK Regulatory
TIDMSBRY
RNS Number : 2713G
Sainsbury(J) PLC
19 November 2015
J Sainsbury plc announces adjustment of Conversion Price to
holders of GBP250,000,000 Perpetual Subordinated Convertible
Bonds
J Sainsbury plc (the "Company") hereby announces (the "Notice")
to the holders of its GBP250,000,000 Perpetual Subordinated
Convertible Bonds (ISIN: XS1268412993 / Common Code: 126841299)
(the " Bonds").
Adjustment of Conversion Price
On 11 November 2015, the Company announced that on 4 January
2016 it would pay an interim dividend of 4.0 pence per Ordinary
Share to Shareholders on the register of members on the record date
of 20 November 2015.
In accordance with the terms and conditions of the Bonds (the
"Conditions"), notice is hereby given with respect to Condition
7(b)(iii)(A), which requires an adjustment to be made to the
Conversion Price if the Company shall announce 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 348.6417 pence per Ordinary
Share.
From and including 19 November 2015, being the Effective Date,
the Conversion Price will be adjusted to 342.9737 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
19 November 2015.
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
-----------------------------------------------------------------------------------------
+44 (0) 20 7695
David O'Loan Group Treasurer David.Oloan@sainsburysbank.co.uk 7704
--------------- ------------------ ---------------------------------- ----------------
Head of Investor +44 (0) 20 7695
Duncan Cooper Relations Duncan.Cooper@sainsburys.co.uk 4740
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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