REG - Sainsbury(J) PLC - Adjustment of Conversion Price

J SainsburyAnnouncement

10/06/2021 12:00

RNS Number : 5131B
  
Sainsbury(J) PLC
  
10 June 2021
  
 

 
 
J Sainsbury plc announces adjustment of Conversion Price to holders of £250,000,000 Subordinated Perpetual Convertible Bonds
 
 
J Sainsbury plc (the "Company") hereby announces (the "Notice") to the holders of its £250,000,000 Subordinated Perpetual Convertible Bonds (ISIN: XS1268412993 / Common Code: 126841299) (the " Bonds"). 
 
 
Adjustment of Conversion Price 
 
On 28 April 2021, the Company announced that on 16 July 2021 it would pay a final dividend of 7.4 pence per Ordinary Share to Shareholders on the register of members on the record date of 11th June 2021.
 
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 273.2807 pence per Ordinary Share. 
 
From and including 10th June 2021, being the Effective Date, the Conversion Price will be adjusted to 265.6376 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 10th June 2021.
 
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



 

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