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Sainsbury(J) PLC (SBRY)

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Thursday 06 June, 2019

Sainsbury(J) PLC

Adjustment of Conversion Price

RNS Number : 4226B
Sainsbury(J) PLC
06 June 2019



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 1st May 2019, the Company announced that on 12th July 2019 it would pay a final dividend of 7.9 pence per Ordinary Share to Shareholders on the register of members on the record date of 7th June 2019.


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 302.3141 pence per Ordinary Share.


From and including 6th June 2019, being the Effective Date, the Conversion Price will be adjusted to 287.5760 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 6th June 2019.


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





J Sainsbury plc

Natalie Shinton



[email protected]

+44 (0) 20 7695 7704

James Collins

Head of Investor


[email protected]

+44 (0) 20 7695 7112


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