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CSCG/LI Bonds – Redeemed Sept 2010

General information

The £240 million 3.95% Convertible Bonds bonds (ISIN XS 0176967262) were issued on 16 October 2003 for redemption at par on 30 September 2010. The Bonds were fully redeemed on their due date and no Bonds are now in issue.

The following information is now provided for reference only.

The bonds were uncertificated and were held in global form. Originally issued as Liberty International PLC Bonds, following the Company’s change of name in May 2010, they were subsequently referred to as Capital Shopping Centres Group PLC Bonds.

Full details of the issue are given in the Offering Circular, section 2 of which contains the full Terms & Conditions applicable to the bonds. The Terms & Conditions are also available as a separate document. Minor amendments to the Terms & Conditions were made as advised in a Notice to Bondholders issued on 21 December 2004, the full text of which is available on this page to download.

Interest was payable half-yearly in arrears on 31 March and 30 September.

Early Put Option

As announced on 10 March 2010, in connection with the intention to demerge part of the Liberty International business, it was agreed with the Trustee for the Bonds to give Bondholders the option to redeem their bonds before the Final Maturity Date of 30 September 2010.

Conversion

With effect from 10 May 2010 following the Demerger of the Capital & Counties business, the conversion price was adjusted to £5.31 per share (i.e. £1,000 nominal of bonds would have converted into 188 ordinary shares). Previous conversion prices were £7.08 from 5 October 2009 following a placing of shares, and £7.16 per share from 28 May 2009 following a capital raising. The original conversion price on issue was £8.00 per share.

Conversion was by delivery of a completed conversion notice to the
Principal Paying & Conversion Agent, who was:

HSBC Corporate Trust & Loan Agency
Level 24, 8 Canada Square
London EC14 5HQ

Telephone: +44 (0) 20 7991 3749
Fax: +44 (0) 20 7260 8932/8086
Email: ctla.corporateactions@hsbc.com

Bonds converted were held to HSBC’s order within the relevant clearing system pending cancellation. The Trustee for the Bonds was:

Deutsche Trustee Company Limited
Winchester House
1 Great Winchester Street
London EC2N 2DB