11th May 2006 16:33
Ladbrokes PLC11 May 2006 LGF (JERSEY) LIMITED (FORMERLY HILTON GROUP FINANCE (JERSEY) LIMITED, THE "ISSUER") £300,000,000 3.375 PER CENT. CONVERTIBLE BONDS DUE 2010 (THE"CONVERTIBLE BONDS") GUARANTEED BY LADBROKES PLC (FORMERLY HILTON GROUP PLC, THE "COMPANY") ISIN XS0176102951 NOTICE TO HOLDERS OF THE CONVERTIBLE BONDS (THE "BONDHOLDERS") OF OPTIONAL REDEMPTION DATE OF 14 JUNE 2006 The Issuer refers to its notice dated 25th April, 2006. It has come to ourattention that that notice was not delivered through the Clearing Systems in atimely fashion and was, therefore, technically ineffective in setting anOptional Redemption Date. Bondholders should, accordingly, ignore the 25thApril, 2006 notice insofar as it related to the setting of an OptionalRedemption Date and any restriction on registration of transfers of ConvertibleBonds. Accordingly, the Convertible Bonds will not be redeemed on 25 May 2006. Given the above, the Issuer hereby gives notice (an "Optional RedemptionNotice") that it will on 14 June, 2006 (the "Optional Redemption Date") redeemall of the Convertible Bonds outstanding on such date at their principal amounttogether with accrued interest up to but excluding the Optional Redemption Date. This Optional Redemption Notice is being provided pursuant to Condition 9(b)(i)of the terms and conditions of the Convertible Bonds as conversion rights havebeen exercised in respect of more than 85 per cent. in principal amount of theBonds originally issued. Bondholders are reminded that the conversion rights in respect of theConvertible Bonds may be exercised at the option of the Bondholder at any timeup to the close of business in the place where the relevant Bond is deliveredfor conversion on 8 June, 2006. The current Exchange Price of the Convertible Bonds is 293 pence per ordinaryshare of the Company, the principal amount of Convertible Bonds outstanding ason 10 May, 2006 was £17,832,000 and the closing price of the ordinary shares ofthe Company on 10 May, 2006 was 422.75 pence per ordinary share. Bondholders are reminded that (i) pursuant to Condition 6(c) of the terms andconditions of the Convertible Bonds, neither the Issuer nor the Registrar willbe required to register the transfer of any Convertible Bond during the periodof 15 calendar days immediately prior to the Optional Redemption Date referredto above; (ii) payment on redemption of the Convertible Bonds will be made tothe person(s) shown in the register of holders of the Convertible Bonds at closeof business on 5 June, 2006; and (iii) Bondholders should look to the relevantclearing system through which their Convertible Bonds are held for repayment inrespect of the Convertible Bonds. Bondholders are referred to the terms and conditions of the Convertible Bondsfor further details of the rights attaching to the Convertible Bonds. LGF (Jersey) Limited (registered number 85924) (formerly Hilton Group Finance (Jersey) Limited) Registered office: 22 Grenville Street, St Helier, Jersey. JE4 8PX.Dated 11 May, 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ladbrokes Coral