BOS (SHARED APPRECIATION MORTGAGES) NO. 2 PLC
(incorporated with limited liability in England and Wales with registered number 03149607)

(the Issuer)

NOTICE OF RESULTS OF MEETING

to the holders of the

£105,600,000 Asset Backed Notes due August 2072 (ISIN: XS0078634200)

 (the Notes, and the holders thereof, the Noteholders) of the Issuer presently outstanding.

On 25 August 2021, the Issuer announced an invitation to Eligible Noteholders to consent to certain modifications to the terms and conditions of the Notes and consequential or related amendments to the transaction documents relating to the Notes (the Consent Solicitation). A meeting of Noteholders (the Meeting) was held earlier today in connection with the Consent Solicitation, and the Issuer now announces the results of the Meeting.

The full terms and conditions of the Consent Solicitation were contained in the consent solicitation memorandum dated 25 August 2021 (the Consent Solicitation Memorandum) prepared by the Issuer. Capitalised terms used in this announcement but not defined have the meanings given to them in the Consent Solicitation Memorandum.

NOTICE IS HEREBY GIVEN to the Noteholders that:

(a)        at the Meeting held earlier today, the Extraordinary Resolution was duly passed and the Eligibility Condition relating to the Extraordinary Resolution was satisfied; and

(b)        the Deed of Amendment and Restatement, the Supplemental Trust Deed and the ISDA Amendment Agreement (the Amendment Documents) in respect of the Notes were executed earlier today, and the amendments will be effective from the Effective Date, being 23 September 2021.

To confirm, the date from which the proposed change in reference rate for the provisions which currently reference sterling LIBOR is scheduled to occur is the Interest Payment Date falling in November 2021 (the Transition Date). For the avoidance of doubt, the interest basis applicable to the calculation of certain amounts payable under the Notes up to but excluding the Transition Date will continue to be sterling LIBOR.

In accordance with paragraph 17.3.9C of the Listing Rules (Disclosure of rights attached to securities) the Issuer has today uploaded to the National Storage Mechanism (NSM) a document setting out the terms and conditions on which the Notes were issued, being the Trust Deed.

The NSM can be accessed at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 

For further information, please contact:

Lloyds Bank Corporate Markets plc

10 Gresham Street

London EC2V 7AE

Telephone number:                  +44 (0)20 7158 1726 / 1719

Attention:                     Liability Management Group

Email:                          [email protected]

DISCLAIMER: Neither this announcement nor the Consent Solicitation Memorandum constitute or form part of, and should not be construed as, an offer for sale, exchange or subscription of, or a solicitation of any offer to buy, exchange or subscribe for, any securities of the Issuer or any other entity. The distribution of the Consent Solicitation Memorandum may nonetheless be restricted by law in certain jurisdictions. Persons into whose possession the Consent Solicitation Memorandum comes are required to inform themselves about, and to observe, any such restrictions.