TIDMSBRY TIDMIRSH

RNS Number : 4554T

Sainsbury(J) PLC

14 November 2019

14 November 2019

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

J Sainsbury plc (the "Company") hereby announces (the "Notice") to the holders of its GBP250,000,000 Perpetual Subordinated Convertible Bonds (ISIN: XS1268412993 / Common Code: 126841299) (the "Bonds").

Adjustment of Conversion Price

On 7(th) November 2019, the Company announced that on 20(th) December 2019 it would pay an interim dividend of 3.3 pence per Ordinary Share to Shareholders on the register of members on the record date of 15(th) November 2019.

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 292.9554 pence per Ordinary Share.

From and including 14(th) November 2019, being the Effective Date, the Conversion Price will be adjusted to 288.2329 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 14(th) November 2019.

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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END

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November 14, 2019 07:30 ET (12:30 GMT)

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