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Adjustment of Conversion Price

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RNS Number : 4561T
Sainsbury(J) PLC
14 November 2019
 

14 November 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 7th November 2019, the Company announced that on 20th December 2019 it would pay an interim dividend of 3.3 pence per Ordinary Share to Shareholders on the register of members on the record date of 15th November 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 287.5760 pence per Ordinary Share.

 

From and including 14th November 2019, being the Effective Date, the Conversion Price will be adjusted to 282.9402 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 14th November 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

London

EC1N 2HT

 

Contacts

J Sainsbury plc

Natalie Shinton

Retail

Treasurer

[email protected]

+44 (0) 20 7695 7704

James Collins

Head of Investor

Relations

[email protected]

+44 (0) 20 7695 7112

 


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Quick facts: J Sainsbury PLC

Price: 217.5

Market: LSE
Market Cap: £4.81 billion
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