7th Dec 2011 10:24
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OR TO ANY U.S. PerSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, as amended)
DAILY MAIL AND GENERAL TRUST PLC ANNOUNCES RESULTS OF TENDER OFFER
On 29 November 2011 Daily Mail and General Trust plc (the "Company") announced an invitation to the holders of its outstanding £300,000,000 7.50 per cent. Bonds due 2013 (ISIN XS0109428705) (the "Bonds") to tender some or all of their Bonds for purchase by the Company (the "Tender Offer").
The Tender Offer was made on the terms and subject to the conditions contained in the tender offer memorandum dated 29 November 2011 (the "Tender Offer Memorandum"). Capitalised terms used in this announcement have the meanings ascribed to them in the Tender Offer Memorandum.
The Tender Offer expired at 4.00 pm London time on 6 December 2011 (the " Expiration Time"). As of the Expiration Time, the Company had received valid Tender Instructions in respect of £110,060,000 in aggregate principal amount of Bonds.
The Company is pleased to announce that is has waived the Maximum Acceptance Amount and has decided to accept for purchase an aggregate principal amount of Bonds equal to £110,060,000. All Bonds submitted pursuant to valid Tender Instructions will be accepted in full.
Bondholders whose Bonds have been validly tendered and accepted for purchase by the Company will receive the Purchase Price together with Accrued Interest, as set out in the table below.
Bonds ISIN Maturity Purchase Accrued Outstanding Date Price Interest Principal Amount following Settlement Date
£300,000,000 XS0109428705 29 March £10,550.00 £522.50 £46,440,000
7.50 per 2013 per £ per £ cent. due 10,000 in 10,000 in 2013 principal principal amount amount
The expected Settlement Date for the Tender Offer is 9 December 2011. Bonds repurchased by the Company pursuant to the Tender Offer will be cancelled and will not be reissued or re-sold.
For further information:
A complete description of the terms and conditions of the Tender Offer is set out in the Tender Offer Memorandum. Further details about the transaction can be obtained from:
The Dealer Manager:
The Royal Bank of Scotland plc
135 BishopsgateLondon EC2M 3URTel: +44(0) 20 7085 5991
Attention: Liability Management Group
Email: [email protected]
The Tender Agent:Lucid Issuer Services LimitedLeroy House436 Essex RoadLondon N1 3QPTel: +44 (0)20 7704 0880
Attn: Thomas Choquet/Paul Kamminga
Email: [email protected]
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO PURCHASE ANY SECURITIES OR A SOLICITATION OF AN OFFER TO SELL ANY SECURITIES.
7 December 2011
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