23rd Feb 2006 07:03
Hilton Group PLC23 February 2006 HILTON GROUP FINANCE (JERSEY) LIMITED £300,000,000 3.375 PER CENT. CONVERTIBLE BONDS DUE 2010 (THE "CONVERTIBLE BONDS") GUARANTEED BY HILTON GROUP PLC (THE "COMPANY") ISIN XS0176102951 NOTICE TO BONDHOLDERS OF ADJUSTMENT TO EXCHANGE PRICE The Company has announced today its intention to recommend to shareholders areturn of value to shareholders and a consolidation of its share capital. The Company hereby gives notice to the Bondholders, pursuant to Clause 9.4 ofthe Trust Deed relating to the Convertible Bonds, of possible adjustments to theExchange Price as a result of the return of value and share consolidation. Thereturn of value and share consolidation are subject to the approval by theCompany's shareholders of resolutions that are to be proposed at anExtraordinary General Meeting, notice of which is expected to be posted shortly.Any adjustment to the Exchange Price, which is currently 260 pence, will asregards the share consolidation take effect on the date on which theconsolidation occurs (which is expected to be 13 April 2006) and, as regards thereturn of value, on the date on which the value is returned to shareholders(which is expected to be 25 April 2006). Hilton Group plc (registered number 566221) (shortly to be renamed Ladbrokes plc) Registered office: Maple Court Central Park Reeds Crescent Watford Hertfordshire WD24 4QQ Dated 23 February 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ladbrokes Coral