4th Sep 2006 12:41
Guinness Peat Group PLC04 September 2006 Guinness Peat Group plc The following is the text of an announcement released today to the New ZealandStock Exchange by GPG Finance plc, a wholly owned subsidiary of Guinness PeatGroup plc. "GPG FINANCE PLC 2006 CAPITAL NOTE OFFER - EXCHANGE OFFER - ALLOTMENT ANNOUNCEMENT In accordance with NZX Listing Rule 7.12.1, GPG Finance plc announces that ithas acquired $181,716,000 in principal amount of 2001 Capital Notes, and issued$181,716,000 in principal amount of New Capital Notes, under the Exchange Offerdescribed in the registered prospectus and investment statement dated 31 July2006 (Offer Document). In relation to the 2001 Capital Notes acquired: (a) The class of security acquired is unsecured subordinated capitalnotes issued in 2001 and having an initial election date of 15 November 2006(2001 Capital Notes). The ISIN of the 2001 Capital Notes is NZGFND0001S6. (b) $181,716,000 in principal amount of 2001 Capital Notes have beenacquired. (c) The acquisition price for the 2001 Capital Notes acquired was thetotal principal amount of the 2001 Capital Notes acquired plus the amount ofinterest accrued and unpaid on those 2001 Capital Notes from, and including, 15August 2006 to, but excluding, 1 September 2006, being the date of allotment ofthe New Capital Notes. (d) The acquisition price was cash, but the portion of the acquisitionprice representing the principal amount of the 2001 Capital Notes acquired wasapplied in subscription for New Capital Notes in the manner described below. (e) The portion of the acquisition price representing the principalamount of the 2001 Capital Notes acquired has been paid in full. The portion ofthe acquisition price representing accrued and unpaid interest will be paid on15 November 2006. (f) 2001 Capital Notes representing 72.7% in principal amount of the2001 Capital Notes on issue were acquired. (g) The reason for the acquisition was to enable holders of 2001Capital Notes to exchange their 2001 Capital Notes for New Capital Notes, in themanner described below and in the Offer Document. (h) The authority for the acquisition was the Offer Document andapplications submitted under the Exchange Offer. (i) The terms of the acquisition are set out in the Offer Document. (j) $68,284,000 in principal amount of 2001 Capital Notes remain onissue after the acquisition. Under the terms of the 2001 Capital Notes thisamount shall be repaid on 15 November 2006. (k) The acquisition occurred on 1 September 2006. In relation to the New Capital Notes issued: (a) The class of security issued is unsecured subordinated capitalnotes having an initial election date of 15 November 2012 (New Capital Notes).The ISIN is NZGFND0003S2. (b) $181,716,000 in principal amount of New Capital Notes have beenissued. (c) The issue price was $1 for each $1 in principal amount of NewCapital Notes. (d) The New Capital Notes issued were paid up in cash by applying theportion of the purchase consideration for 2001 Capital Notes acquired under theExchange Offer, which represented the principal amount of 2001 Capital Notesacquired, in subscription for New Capital Notes. (e) The New Capital Notes have been paid up in full. (f) The percentage of the total class issued is 100%. There will be afurther issue of New Capital Notes under the General Offer described in theOffer Document. (g) The reason for the issue was to enable holders of 2001 CapitalNotes to exchange their 2001 Capital Notes for New Capital Notes, in the mannerdescribed above and in the Offer Document. (h) The authority for the issue was the Offer Document and applicationssubmitted under the Exchange Offer. (i) The terms of the issue are set out in the Offer Document and inthe trust deed relating to the New Capital Notes dated 31 July 2006. (j) $181,716,000 in principal amount of New Capital Notes are inexistence after the issue. (k) The issue was made on 1 September 2006. In relation to the Offer the Company proposes to accept applications up to $350min aggregate." J R Russell Company Secretary Guinness Peat Group plc 0207 484 3370 4 September 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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