REG - Sainsbury(J) PLC - Convertible Bond Adjustment <Origin Href="QuoteRef">SBRY.L</Origin>

J SainsburyAnnouncement

17/11/2016 10:35

RNS Number : 4667P
Sainsbury(J) PLC
17 November 2016
17 November 2016
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 9 November 2016, the Company announced that on 4 January 2017 it would pay an interim dividend of 3.6 pence per Ordinary Share to Shareholders on the register of members on the record date of 18 November 2016.
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 326.4131 pence per Ordinary Share. 
From and including 17 November 2016, being the Effective Date, the Conversion Price will be adjusted to 321.4744 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 17 November 2016. 
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 
David O'Loan
Group 
Treasurer 
David.Oloan@sainsburysbank.co.uk
+44 (0) 20 7695 7704
James Collins
Head of Investor 
Relations 
InvestorRelations2@sainsburys.co.uk
+44 (0) 20 7695 7112

This information is provided by RNS
The company news service from the London Stock Exchange
  END
MSCFFSFSWFMSEEF