intu 3.75% convertible bonds

Converted in full on 2 July 2014 The £154,317,000 million Convertible Bonds were issued on 28 January 2011 in connection with the acquisition of the Trafford Centre, Manchester from the Peel Group.

The bonds were converted in full on 2 July 2014 at a conversion price of 364 pence per ordinary share.

The bonds were perpetual subordinated bonds, convertible into Ordinary Shares of the Company at the option of the bondholder any time after two years from the date of issue or earlier in certain limited circumstances (including on the making of a takeover offer for the Company).

The initial conversion price was 400 pence per Ordinary Share. The initial conversion price could be adjusted downwards from time to time in accordance with the terms and conditions of the Convertible Bonds, including in circumstances where the Company paid a dividend in respect of its Ordinary Shares in excess of 15.0 pence in respect of any fiscal year.  In respect of the Rights Issue, announced by the Company on 20 March 2014, with effect from 31 March 2014 the conversion price was adjusted from 400 pence to 364 pence per Ordinary Share. All price change notices to bondholders are available for download from this page.

The Convertible Bonds bore interest at the rate of 3.75 per cent. per annum payable semi-annually in arrears.

The Convertible Bonds were admitted to the UKLA’s official list and to trading on the Professional Securities Market of the London Stock Exchange on 2 June 2011.

The Bonds were accepted for clearance through the Clearstream, Luxembourg and Euroclear systems. The Common Code for the Bonds was 056463615. The International Securities Identification Number for the Bonds was XS0564636156.