SBRY Convertible Bonds Adjustment

RNS Number : 1747N
Sainsbury(J) PLC
14 May 2015
 



 

J Sainsbury plc announces adjustment of Conversion Price to holders of £450,000,000 1.25 per cent. Convertible Bonds due 2019

 

J Sainsbury plc (the "Company") hereby announces (the "Notice") to the holders of its £450,000,000 1.25 per cent. Convertible Bonds due 2019 (ISIN: XS1139087933 / Common Code: 113908793) (the " Bonds").

 

Adjustment of Conversion Price

 

On 6 May 2015, the Company announced that on 10 July 2015 it would pay a final dividend of 8.2 pence per Ordinary Share to Shareholders on the register of members on the record date of 15 May 2015.

 

In accordance with the terms and conditions of the Bonds (the "Conditions"), notice is hereby given with respect to Condition 6(b)(iii)(A), which requires an adjustment to be made to the Conversion Price if the Company shall pay 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 352.7607 pence per Ordinary Share.

 

From and including 14 May 2015, being the Effective Date, the Conversion Price will be adjusted to 342.2674 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 14 May 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

Richard

Learmont

Group

Treasurer

Richard.Learmont@sainsburys.co.uk

+44 (0) 20 7695 7600

Duncan Cooper

Head of Investor

Relations

Duncan.Cooper@sainsburys.co.uk

+44 (0) 20 7695 4740

 


This information is provided by RNS
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