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

J SainsburyAnnouncement

19/11/2015 09:40

RNS Number : 2713G
Sainsbury(J) PLC
19 November 2015
J Sainsbury plc announces adjustment of Conversion Price to holders of 250,000,000 Perpetual Subordinated Convertible Bonds
J Sainsbury plc (the "Company") hereby announces (the "Notice") to the holders of its 250,000,000 Perpetual Subordinated Convertible Bonds (ISIN: XS1268412993 / Common Code: 126841299) (the " Bonds"). 
Adjustment of Conversion Price 
On 11 November 2015, the Company announced that on 4 January 2016 it would pay an interim dividend of 4.0 pence per Ordinary Share to Shareholders on the register of members on the record date of 20 November 2015.
In accordance with the terms and conditions of the Bonds (the "Conditions"), notice is hereby given with respect to Condition 7(b)(iii)(A), which requires an adjustment to be made to the Conversion Price if the Company shall announce 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 348.6417 pence per Ordinary Share. 
From and including 19 November 2015, being the Effective Date, the Conversion Price will be adjusted to 342.9737 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 19 November 2015. 
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
Duncan Cooper 
Head of Investor 
Relations 
Duncan.Cooper@sainsburys.co.uk
+44 (0) 20 7695 4740

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