Business
Convertible Bonds Adjustment
Convertible Bonds Adjustment.
About this update from J Sainsbury Plc
[{"type":"text","content":"\n \nRNS Number : 9171E Sainsbury(J) PLC 11 May 2017 \n\n11 May 2017\n \nJ Sainsbury plc announces adjustment of Conversion Price to holders of £450,000,000 1.25 per cent. Convertible Bonds due 2019 \n \n \nJ 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\"). \n \n \nAdjustment of Conversion Price \n \nOn 3 May 2017, the Company announced that on 7 July 2017 it would pay a final dividend of 6.6 pence per Ordinary Share to Shareholders on the register of members on the record date of 12 May 2017.\n \nIn 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.\n \nThe current Conversion Price is 321.4744 pence per Ordinary Share. \n \nFrom and including 11 May 2017, being the Effective Date, the Conversion Price will be adjusted to 313.5056 pence per Ordinary Share. All other Conditions of the Bonds remain unchanged. \n \nConversion Agent \n \nThe Bank of New York Mellon, London Branch \n \nEffective Date of Adjustment of Conversion Price \n \nThe adjustment to the Conversion Price will become effective on 11 May 2017.\n \nDefined terms \n \nUnless otherwise defined in this Notice, terms used in this Notice have the meanings given to them in the Conditions. \n \n \nThis announcement is given by: \nJ Sainsbury plc \n33 Holborn\nLondon\nEC1N 2HT\n \nContacts \n \n\n\n\n\nJ Sainsbury plc \n\n\n\n\nNatalie Shinton\n\n\nRetail\nTreasurer \n\n\[email protected]\n\n\n+44 (0) 20 7695 7704\n\n\n\n\nJames Collins\n\n\nHead of Investor \nRelations \n\n\[email protected]\n\n\n+44 (0) 20 7695 7112\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCLLFFSEVILLID\n ","length":5129,"tagName":"div"}]