Adjustment of Conversion Price

RNS Number : 1607F

Sainsbury(J) PLC

12 November 2020

 

J Sainsbury plc announces adjustment of Conversion Price to holders of £250,000,000 Perpetual Subordinated Convertible Bonds

J Sainsbury plc (the "Company") hereby announces (the "Notice") to the holders of its £250,000,000 Perpetual Subordinated Convertible Bonds (ISIN: XS1268412993 / Common Code: 126841299) (the "Bonds").

Adjustment of Conversion Price

On 5^th November 2020, the Company announced that on 18^th December 2020 it would pay an interim dividend of 3.2 pence per Ordinary Share and a special dividend of 7.3 pence per Ordinary Share to Shareholders on the register of members on the record date of 13^th November 2020.

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 288.2329 pence per Ordinary Share.

From and including 12 ^th November 2020, being the Effective Date, the Conversion Price will be adjusted to 273.2807 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 12 ^th November 2020.

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 Shinton	Retail Treasurer	[e-mail]	[phone]
James Collins	Head of Investor Relations	[e-mail]	[phone]

 

END

 

 

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