15th Dec 2005 07:00
NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR ITALIAN PERSON OR TO ANY PERSON ORADDRESS IN THE UNITED STATES OR ITALYLIBERTY INTERNATIONAL PLC15 December 2005INVITATION TO HOLDERS OF LIBERTY INTERNATIONAL PLC ‚£240,000,000 3.95 PER CENT.CONVERTIBLE BONDS DUE 2010 TO APPLY FOR CONVERSION ON ENHANCED TERMS - FIXINGOF CLEARING CASH AMOUNT AND NOTICE OF EXTENSION UNTIL 16 DECEMBER 2005Further to Liberty International PLC's (the "Company") Notice to holders("Bondholders") of its outstanding 3.95 per cent. bonds due 2010 convertibleinto ordinary shares of the Company (the "Bonds") dated 8 December 2005, theCompany hereby announces, pursuant to the provisions of the Notice, that (i)the clearing cash amount has been fixed at ‚£60 in relation to each ‚£1,000 inoriginal principal amount of the Bonds offered for conversion (the "FixedClearing Cash Amount") and (ii) the Auction Period (as defined in the Notice)has been extended and will now expire at 4.00 p.m. London time on 16 December2005.Pursuant to the provisions of the Notice, all ‚£104.1 million of Bonds specifiedby Bondholders in Applications for Conversion already received by the PayingAgent for which the specified minimum cash amount is less than or equal to theFixed Clearing Cash Amount shall be accepted for conversion by the Company.Bondholders who have not yet returned an Application for Conversion or who havereturned an Application for Conversion specifying a minimum cash amount greaterthan ‚£60 and who wish to participate in the Auction at the Fixed Clearing CashAmount may do so by completing an Application for Conversion specifying aminimum cash amount equal to the Fixed Clearing Cash Amount. The Applicationfor Conversion (including the Conversion Notice scheduled thereto) must becompleted and be received by the Paying Agent by 4.00 p.m. London time on 16December 2005.The Bonds have the following security codes: ISIN XS0176967262 and Common Code017696726.The Company may, in its sole discretion, waive, amend (subject as provided inthe Notice), extend, terminate or withdraw the Auction.Enquiries to:Liberty International PLC:David Fischel Chief Executive +44 (0)20 7960 1207 Aidan Smith Finance Director +44 (0)20 7960 1210 UBS Limited:James Eves Managing Director +44 (0)20 7568 3426 James Geary Executive Director +44 (0)20 7568 2308 Morgan Stanley & Co. International Limited:Jonathan Lane Managing Director +44 (0)20 7425 4303 Jean-Marc Jabre Associate +44 (0)20 7677 5076 The distribution of the Notice in certain jurisdictions may be restricted bylaw. Restrictions apply to the United States, the United Kingdom, Italy,Belgium and France. Persons into whose possession the Notice comes are requiredby the Company to inform themselves about, and to observe, any suchrestrictions.Each of UBS Limited and Morgan Stanley & Co. International Limited,respectively, is acting for the Company in the Auction and will not beresponsible to anyone other than the Company for providing the protectionsafforded to clients of UBS Limited and Morgan Stanley & Co. InternationalLimited, respectively, nor for providing advice in relation to the Auction.ENDLiberty International plcRelated Shares:
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