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Name | Symbol | Market | Type |
---|---|---|---|
Int.pwr.j.3.75% | LSE:35LY | London | Bond |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
TIDM35LY TIDMIPR
RNS Number : 7639F
International Power (Jersey) Ltd
20 June 2012
NOTICE TO HOLDERS OF
INTERNATIONAL POWER (JERSEY) LIMITED
US$228,262,000 - 3.75 PER CENT. GUARANTEED CONVERTIBLE BONDS DUE 2023
ISIN: XS0173110262
(the Bonds)
convertible into 3.75 per cent. redeemable preference shares of International Power (Jersey) Limited which are immediately exchanged for ordinary shares of and unconditionally guaranteed by
INTERNATIONAL POWER PLC
NOTICE OF ADJUSTMENT TO THE EXCHANGE PRICE
Adjustment Event
On 8 February 2012, International Power plc announced that on 29 June 2012 it would pay a cash Dividend of 6.6 euro cents per ordinary Share to Shareholders on the register of members on the record date of 25 May 2012.
Adjustment of Exchange Price
Each US$1,000 principal amount of a Bond is convertible into one Preference Share with a paid-up value of US$1,000. The Preference Shares will be delivered to International Power plc following the issue of such Preference Shares to the Bondholder, in consideration for which International Power plc will deliver such number of Shares as results from dividing the paid up value of each Preference Share (translated into pounds sterling at the fixed exchange rate of US$1.5893 = GBP1) by the Exchange Price in effect on the relevant Conversion Date (rounded down to the nearest whole number of Shares).
Clause 7 of the Preference Share Guarantee and Undertaking requires an adjustment to be made to the Exchange Price in accordance with the terms of the schedule thereto (the Schedule) on the occurrence of certain corporate events. As a result of the announcement by International Power plc that it will pay a cash Dividend to the Shareholders, an adjustment to the Exchange Price is required pursuant to paragraph B (iii) of the Schedule.
The current Exchange Price is 109 pence.
From and including 29 June 2012, being the date of payment of the cash Dividend, the Exchange Price will be adjusted to 107 pence. In addition, we draw your attention to the notice to holders dated 17 May 2012 constituting a rule 15 proposal for the purposes of the city code on takeovers and mergers in connection with the recommended acquisition of International Power plc by Electrabel S.A., a wholly owned subsidiary of GDF Suez S.A. All other Terms and Conditions of the Bonds remain unchanged.
Principal Paying, Conversion and Exchange Agent
Deutsche Bank AG, London branch
Effective Date of Exchange Price Adjustment
The adjustment to the Exchange Price will become effective on 29 June 2012.
Defined Terms
All words and terms that are capitalised herein shall have the same meaning as set out in the Terms and Conditions of the Bonds.
20 June 2012
This information is provided by RNS
The company news service from the London Stock Exchange
END
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