25th Apr 2007 12:11
Grainger PLC25 April 2007 25 April 2007 For immediate release THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THEUNITED STATES, CANADA, AUSTRALIA OR JAPAN OR TO U.S. PERSONS GRAINGER PLC Issue of convertible bonds Further to its earlier announcement, Grainger PLC, the UK's largest quotedresidential property owner, now announces the terms of its issue of convertiblebonds. The issue size is £112 million. The coupon is 3.625%. The conversion price is864 pence, representing a conversion premium of 35% over the reference shareprice at the time of pricing. The maturity is 2014. Enquiries: Grainger plc: Andrew Cunningham / Keith Sadler 0191 261 1819 JPMorgan Cazenove: Francis Burkitt / Monika Weiler 020 7588 2828 Financial Dynamics: Stephanie Highett / Dido Laurimore 020 7831 3113 This announcement is for distribution only to persons who (i) have professionalexperience in matters relating to investments; or (ii) are persons fallingwithin Article 49(2)(a) to (d) ("high net worth companies, unincorporatedassociations etc") of The Financial Services and Markets Act 2000 ("FSMA")(Financial Promotion) Order 2005; or (iii) are outside the UK (all such personstogether being referred to as "relevant persons"). In the UK, the promotion ofthis offering is restricted by section 21 of FSMA. This announcement is directedonly at relevant persons and must not be acted on or relied on by persons whoare not relevant persons. Any investment or investment activity to which thisannouncement relates is available only to relevant persons and will be engagedin only with relevant persons. This announcement does not contain or constitute an offer of, or thesolicitation of an offer to buy or subscribe for, securities to any person inAustralia, Canada, Japan or the United States or in any jurisdiction to whom orin which such offer or solicitation is unlawful. Neither the bonds nor theunderlying shares may be offered or sold in the United States or (in the case ofthe bonds) to U.S. persons absent registration under the US Securities Act of1933, as amended (the "Securities Act") or another exemption from, or in atransaction not subject to, the registration requirements of the Securities Act. Subject to certain exceptions, the bonds and the underlying shares may not beoffered or sold in Australia, Canada or Japan or to, or for the account orbenefit of, any national, resident or citizen of Australia, Canada or Japan.The bonds and the underlying shares have not been and will not be registeredunder the Securities Act or under the applicable securities laws of Australia,Canada or Japan and the bonds are subject to U.S. tax law requirements. Therewill be no public offer of the securities in the United States. There will be no public offer of the bonds in Jersey. This communication doesnot constitute an offer of bonds for subscription or sale in Jersey. No offerfor subscription or sale of the bonds may be made in Jersey unless to a relevantperson and unless such offer does not constitute an offer to the public for thepurposes of the Control of Borrowing (Jersey) Order 1958, as amended. Stabilisation / FSA This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Grainger plc