TIDMSBRY

RNS Number : 5131B

Sainsbury(J) PLC

10 June 2021

J Sainsbury plc announces adjustment of Conversion Price to holders of GBP250,000,000 Subordinated Perpetual Convertible Bonds

J Sainsbury plc (the "Company") hereby announces (the "Notice") to the holders of its GBP250,000,000 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 11(th) 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 10 (th) 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 10(th) 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 
                                                                            +44 (0) 20 7695 
 Natalie Shinton    Retail Treasurer    Natalie.Shinton@sainsburys.co.uk     7704 
                   ------------------  ----------------------------------  ---------------- 
                    Head of Investor                                        +44 (0) 20 7695 
 James Collins       Relations          James.Collins@sainsburys.co.uk       7112 
                   ------------------  ----------------------------------  ---------------- 
 

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June 10, 2021 07:00 ET (11:00 GMT)

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