12th Aug 2005 14:37
Land Securities Group Plc12 August 2005 RNS Announcement for release on 12 August 2005 Tops Estates PLC (the "Company") £75,000,000 10 1/4 % First Mortgage DebentureStock 2011/16 (the "Stock") Tops Estate PLC, a wholly owned subsidiary of Land Securities Group PLC, todayprovided a Notice to Stockholders of a Stockholder Meeting to be held on 5September 2005 to propose an Extraordinary Resolution to permit the redemptionof all outstanding Stock. If the Extraordinary Resolution is passed, the Company proposes to redeem theStock on the Early Redemption Date at the Repurchase Price plus AccruedInterest. The Repurchase Price will be based upon a Repurchase Spread of 48bpsover the mid-market yield of the 5% UK Treasury Gilt due 7 March 2012 ascalculated by the Co-ordinator as more fully described in the ExplanatoryMemorandum. The Pricing Date will be one business day after the RedemptionResolution is passed. It is proposed that the Early Redemption Date would be 9September 2005. The proposals are being made upon the terms and subject to the conditionscontained in the Explanatory Memorandum dated 12 August 2005 and terms usedherein and not otherwise defined have the meanings ascribed to them in theExplanatory Memorandum. The proposals are not being made to Stockholders in anyjurisdiction in which such proposals would not be in compliance with thesecurities laws of such jurisdictions, as described in the ExplanatoryMemorandum. Copies of the Explanatory Memorandum are available on request from theRegistrar: Capita IRG Plc, The Registry: +44-20-8639-2157. Citigroup Global Markets Limited is the sole Co-ordinator. For furtherinformation please contact Liability Management Group: +44-207-986-8969 12 August 2005 Tops Estates PLCLand Securities Group PLC This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Land Securities