REG - Shaftesbury Capital - Notice to Bondholders

Shaftesbury CapitalAnnouncement

05/03/2024 14:45

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RNS Number : 6791F  Shaftesbury Capital PLC  05 March 2024

Shaftesbury Capital PLC GBP 275,000,000 2.00 per cent.

Secured Exchangeable Bonds due 2026

exchangeable into ordinary shares of Shaftesbury Capital PLC

(ISIN: XS2262952679) (the "Bonds")

 

Notice to Bondholders

As a result of the recent declaration by Shaftesbury Capital PLC (the
"Issuer") of a final dividend of GBP 0.0165 per Shaftesbury Capital Share (a
"Cash Dividend"), which is scheduled to be paid to holders of Shaftesbury
Capital Shares on 31 May 2024, the Issuer hereby notifies Bondholders that
payment of such Cash Dividend will result in the occurrence of a Capital
Distribution in accordance with the definition thereof in the terms and
conditions of the Bonds (the "Conditions"), given the Cash Dividend in respect
of a Unit of Equity Shares amounts to GBP 770.104665 and is therefore above
the Reference Amount of GBP 695.265 in respect of the Relevant Period.

The Issuer hereby also notifies Bondholders of its decision not to issue a
Purchase Election Notice and as a result, the amount of such Capital
Distribution will be included as part of the Exchange Property pursuant to
Condition 8(b)(iii).

The adjustment to the Exchange Property arising as a result of such payment is
expected to be effective on 31 May 2024, in accordance with the Conditions.

A further notice to Bondholders will be issued on or about 31 May 2024,
stating the aggregate cash amount that has been added to the Exchange
Property, the total number of Shaftesbury Capital Shares and aggregate cash
amount comprising the Exchange Property as a result thereof and the resulting
Exchange Property per Bond.

Capitalised terms not otherwise defined in this notice shall have the meanings
given to them in the Conditions.

The content of this Notice has not been formulated or negotiated by the
Trustee and nothing in this Notice should be construed as a recommendation to
Bondholders from the Trustee on any matter.  Bondholders should take their
own independent legal and financial advice on the impact or consequences of
the matters set out in this Notice. The Trustee is not responsible for the
accuracy, completeness, validity or correctness of the statements made and
documents referred to in this Notice or any omissions from this Notice.

 

5 March 2024

Enquiries:

Shaftesbury Capital PLC

Situl Jobanputra - Chief Financial Officer

Graham Keer - Group Treasurer

Ruth Pavey - Company Secretary

Telephone: +44 20 3214 9150

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