Last checked at 7 Jun 2018 15:30
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 30th April 2018, the Company announced that on 13th July 2018 it would pay a final dividend of 7.1 pence per Ordinary Share to Shareholders on the register of members on the record date of 8th June 2018.
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 309.2599 pence per Ordinary Share.
From and including 7th June 2018, being the Effective Date, the Conversion Price will be adjusted to 302.3141 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 7th June 2018.
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 | |||
Natalie Shinton | Retail Treasurer | Natalie.Shinton@sainsburys.co.uk | +44 (0) 20 7695 7704 |
James Collins | Head of Investor Relations | James.Collins@sainsburys.co.uk | +44 (0) 20 7695 7112 |