TIDMSBRY

RNS Number : 4672P

Sainsbury(J) PLC

17 November 2016

17 November 2016

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 9 November 2016, the Company announced that on 4 January 2017 it would pay an interim dividend of 3.6 pence per Ordinary Share to Shareholders on the register of members on the record date of 18 November 2016.

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 332.4921 pence per Ordinary Share.

From and including 17 November 2016, being the Effective Date, the Conversion Price will be adjusted to 327.4615 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 17 November 2016.

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 
 David O'Loan     Group Treasurer    David.Oloan@sainsburysbank.co.uk        7695 7704 
                  Head of 
                   Investor                                                 +44 (0) 20 
 James Collins     Relations         InvestorRelations2@sainsburys.co.uk     7695 7112

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 17, 2016 05:30 ET (10:30 GMT)

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