10th Jan 2006 07:00
BAE SYSTEMS PLC10 January 2006 10 January 2006 BAE SYSTEMS PLC £100,000,000 10 3/4 per cent. Bonds due 2014 and £150,000,000 11 7/8 per cent. Bonds due 2008 BAE Systems plc (the "Company") announces that notices (each a "Notice ofMeeting") have been published on 10 January 2006 relating to meetings of the2014 and 2008 Bondholders to be held on 1 February 2006. The purpose of eachmeeting is to consider, and if thought fit approve, Extraordinary Resolutions tomake certain amendments to the terms and conditions of the Bonds. Theseproposals are detailed in a Consent Solicitation Statement dated 10 January 2006(the "Consent Solicitation Statement") available to Bondholders as indicated inthe Notice of Meeting. Holders of Bonds which are held by Clearstream orEuroclear should contact the relevant corporate action departments. To participate in the relevant meeting Bondholders must provide theirinstructions in the normal way so that instructions are received by thePrincipal Paying Agent (the "Principal Paying Agent") by 11.00 a.m. in the caseof the 2014 Bonds and 11.30 a.m. in the case of the 2008 Bonds on 30 January2006 (the "Expiration Date"). Bondholders who submit (and do not revoke)electronic voting instructions which are received by the Principal Paying Agentby 11.00 a.m. in the case of the 2014 Bonds or 11.30 a.m. in the case of the2008 Bonds on 24 January 2006 (the "Early Participation Date") will be eligibleto receive a payment from the Issuer of £0.75 per £100 principal amount of Bondswhich are the subject of a Bondholder's instruction (the "Early ParticipationConsent Fee"). The receipt of the Early Participation Consent Fee is subject tothe passing of the resolutions in relation to both the Bond issues, subject toand unless the Company in its sole discretion decides to waive the conditionthat resolutions in respect of both Bond issues are passed. Bondholders whosubmit (and do not revoke) electronic voting instructions after the EarlyParticipation Date and before the relevant time on the Expiration Date willreceive £0.50 per £100 principal amount of Bonds which are the subject ofinstructions, subject to the passing of the resolutions as aforesaid (the "FinalConsent Fee"). Bondholders who do not submit electronic voting instructions arenot entitled to either the Early Participation Consent Fee or the Final ConsentFee. The proposals are made subject to the conditions contained in the ConsentSolicitation Statement and terms used in this announcement and not otherwisedefined have the meanings given to them in the Consent Solicitation Statement. UBS Limited is the sole Dealer Manager. Copies of the Notice of Meeting andConsent Solicitation Statement are available from the Principal Paying Agent,Deutsche Bank, London Branch, at 1 Great Winchester Street, London EC2N 2DB. Forfurther information please contact the Liability Management Group at UBS Limitedon +44 20 7568 3118. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BAE Systems