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

J SainsburyAnnouncement

16/11/2017 11:30

RNS Number : 7153W
Sainsbury(J) PLC
16 November 2017
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 9th November 2017, the Company announced that on 2nd January 2018 it would pay an interim dividend of 3.1 pence per Ordinary Share to Shareholders on the register of members on the record date of 17th November 2017.
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 313.5056 pence per Ordinary Share. 
From and including 16th November 2017, being the Effective Date, the Conversion Price will be adjusted to 309.2599 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 16th November 2017.
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

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