Business
Redemption of PIBS
Redemption of PIBS.
About this update from Nationwide Building Society
[{"type":"text","content":"\n \nRNS Number : 8163H Nationwide Building Society 19 November 2018 \n\nNationwide Building Society1\n(the Society)\nNOTICE to the holders of the\n£30,000,000 6.875 per cent. Permanent Interest Bearing Shares (the PIBS)\noriginally issued by Cheshire Building Society\n(ISIN: GB0033882084)\nNOTICE IS HEREBY GIVEN by the Society to the PIBS holders that, having obtained the Relevant Supervisory Consent, the Society will redeem all the PIBS on 10 January 2019 pursuant to Condition 4(b) of the Special Conditions of the PIBS.\nThe PIBS were originally issued by Cheshire Building Society on 10 December 2003. On 15 December 2008, all of the engagements of Cheshire Building Society were transferred to the Society pursuant to section 94 of the Building Societies Act 1986. With effect from that date, the Society as the transferee of the engagements of Cheshire Building Society assumed responsibility for repayment of the PIBS.\nIn accordance with the terms of the PIBS, the Society shall redeem the PIBS at their principal amount together with interest accrued up to (but excluding) 10 January 2019.\nFollowing redemption of the PIBS, (i) the PIBS will be cancelled and no further interest payments will be made and (ii) request will be made to the Financial Conduct Authority (the FCA) and to the London Stock Exchange plc (the LSE) for the PIBS to be removed from the Official List maintained by the FCA and for their admission to trading on the LSE to be cancelled.\nUnless otherwise defined in this Notice, terms used in this Notice have the meanings given to them in the terms of the PIBS.\n \nInside Information Notice\nThis announcement is released by Nationwide Building Society and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR). For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Alex Wall, Head of Capital, Ratings & Investor Relations of Nationwide Building Society.\nFor further information, please contact:\nNationwide Building Society\nAlex Wall\nHead of Capital, Ratings & Investor Relations\[email protected]\n020 7261 6568\nDated: 19 November 2018\n \n[1] LEI: 549300XFX12G42QIKN82\n\nThi...