J Sainsbury plc announces publication of Notice to Holders of £190,000,000 4.25 per cent. Convertible Bonds
J Sainsbury plc (the Company) announces that it has published a notice (the Notice) to the holders of its £190,000,000 4.25 per cent. Convertible Bonds due 2014 (ISIN: XS0435502769 / Common Code: 043550276) (the Convertible Bonds).
Adjustment of Conversion Price
On 13 November 2013, the Company announced that on 3 January 2014 it would pay an interim dividend of 5.0 pence per ordinary Share to Shareholders on the register of members on the record date of 22 November 2013.
In accordance with the terms and conditions of the Convertible Bonds (the Conditions) as set out in the Offering Circular dated 13 July 2009 relating to the Bonds, notice is hereby given with respect to Condition 5(b) (iii) (B), which requires an adjustment to be made to the Conversion Price if the Company shall pay any Extraordinary 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 £4.13.
From and including 20 November 2013, being the Effective Date, the Conversion Price will be adjusted to £4.05. All other Conditions of the Convertible Bonds remain unchanged.
Conversion Agent
The Bank of New York Mellon, London Branch
Effective Date of Conversion Price Adjustment
The adjustment to the Conversion Price will become effective on 20 November 2013.
Defined Terms
Unless otherwise defined in this announcement, terms used in this announcement 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 |
Adam Wilson Katsibas |
Head of Investor Relations |
[email protected] |
+44 (0) 20 7695 7991 |
Richard Learmont |
Group Treasurer |
[email protected] |
+44 (0) 20 7695 7600 |
