4th Dec 2009 16:24
ANNOUNCEMENT OF PRICING OF EARLY REDEMPTION BY
MARSHALLS GROUP PLC
Announcement of pricing of early redemption of the £20,000,000 11⅜ per cent. Debenture Stock 1992/2014 (the "Stock").
Further to its announcement dated 3 December 2009, Marshalls Group plc (the "Company"), a wholly-owned subsidiary of Marshalls plc, hereby announces the final pricing details for the early redemption of the Stock on 10 December 2009.
The final pricing details for the Effective Early Redemption Price were determined by The Royal Bank of Scotland plc as Solicitation Agent at or around 3.00 p.m. (London time) today, as follows:
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Early Redemption Date: |
10 December 2009 |
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Benchmark Security: |
5 per cent. UK Treasury Stock due 2014 |
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Offer Side Benchmark Security Rate: |
2.614 per cent. |
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Effective Early Redemption Spread: |
50 bps |
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Effective Early Redemption Yield: |
3.114 per cent. |
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Effective Early Redemption Price: |
£1,348.41 per £1,000 in outstanding nominal amount of Stock |
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Accrued Interest |
£50.38 per £1,000 in outstanding nominal amount of Stock |
Note:
Amounts are shown rounded to nearest £0.01 per £1,000 for indicative purposes only; for actual calculations, amounts will be rounded to nearest £0.01 based on the aggregate nominal amount of each holder's redeemed Stock.
Cheques for the Effective Early Redemption Price to which a Stockholder is entitled on 10 December 2009 will be posted not later than 9 December 2009 to such Stockholder's address appearing in the register on 3 December 2009 in accordance with the Registrar's usual practices. Cheques for Accrued Interest will be posted not later than 9 December 2009 in accordance with Stockholders' existing mandate instructions, if any, or otherwise to Stockholders' addresses appearing in the register on 3 December 2009 in accordance with the Registrar's usual practices.
The proposal to amend the terms and conditions of the Stock to provide for the early redemption of the Stock was made on the terms and subject to the conditions contained in the Consent Solicitation Memorandum dated 10 November 2009. This announcement should be read in conjunction with the Consent Solicitation Memorandum.
Registrar
Computershare Investor Services PLC
The Pavilions
Bridgwater Road
Bristol BS99 6ZZ
Tel: 0870 707 1134
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Solicitation Agent The Royal Bank of Scotland plc 135 BishopsgateLondon EC2M 3UR Tel: +44 (0)20 7085 3781/2798 Attn: Gianmarco Deiana/Mark Jordan/Morgan Sobotka |
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Company Marshalls Group plc Birkby GrangeBirkby Hall Road Huddersfield HD2 2YA Tel: +44 (0)1484 438900 Attn: Ian Burrell/Cathy Baxandall |
Trustee Law Debenture Trustees Limited Fifth Floor100 Wood StreetLondon EC2V 7EX |
Related Shares:
Marshalls