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First Active PLC (68IY)


Wednesday 31 March, 2010

First Active PLC

Substitution of Issuer

RNS Number : 4497J
First Active PLC
31 March 2010

Company name:                 First Active plc

Headline:                           Substitution of Issuer


First Active plc

Dated 31 March, 2010

£60,000,000 Fixed/Floating Subordinated Callable

Notes due 2018 of First Active plc (the "Issuer")

presently outstanding

(the "Noteholders" and the "Notes" respectively)

ISIN XS0166236520

The Issuer hereby gives notice that, at the Meeting of Noteholders convened by the Notice published via the Clearing Systems on 8 March, 2010 and held on 29 March, 2010, the Extraordinary Resolution set out in such Notice was duly passed.  The third supplemental trust deed and the supplemental agency agreement presented to the Meeting were executed on 31 March 2010 (the "Effective Date") and accordingly, the modifications referred to in the Extraordinary Resolution have been implemented.


On the Effective Date, the liabilities and obligations of the Issuer under the Notes have become the liabilities and obligations of Ulster Bank Ireland Limited and Ulster Bank Ireland Limited has been substituted in place of the Issuer as issuer and principal debtor, on identical terms, in respect of the Notes:

The title and ISIN of the Notes will remain the same.

For further information, please contact


Patrick Passmore

First Active plc

Ulster Bank Group Centre

George's Quay

Dublin 2



Telephone        +353 1 608 4488

Fax:                 + 353 1 608 4046




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