St. Modwen Properties PLC RETAIL BOND REDEMPTION PRICE (7842I)
November 28 2018 - 6:53AM
UK Regulatory
TIDMSMP
RNS Number : 7842I
St. Modwen Properties PLC
28 November 2018
Date of issue: 28 November 2018
LEI: 213800WMV4WVES8TQH05
ST. MODWEN PROPERTIES PLC
("St. Modwen" or "the Company")
GBP80,000,000 6.25 per cent fixed rate bonds due 2019 (ISIN:
XS0841076465) issued by the Company on 7 November 2012 (the "Bonds"
and the holders thereof, the 'Bondholders")
REDEMPTION AT THE OPTION OF THE COMPANY - REDEMPTION PRICE
NOTICE IS HEREBY GIVEN to the Bondholders that, further to the
notice given to the Bondholders on 29 October 2018, the Company
will fully redeem all of the Bonds outstanding on 30 November 2018
(the "Optional Redemption Date"). The Redemption Price, determined
in accordance with Condition 5(c) of the Bonds, is GBP104.63 per
GBP100 principal amount of the Bonds. Interest accrued to (but
excluding) the Optional Redemption Date of GBP0.40 per GBP100
principal amount of the Bonds will also be paid to the
Bondholders.
Words and expressions used in this Notice, shall, unless defined
herein or the context otherwise requires, have the same meaning as
in the terms and conditions of the Bonds.
For further information, please contact:
St. Modwen Properties PLC www.stmodwen.co.uk
Rob Hudson, Chief Financial Officer
Kathryn Edwards, Interim Head of Corporate
Communications 0121 222 9400
FTI Consulting
Dido Laurimore
Tom Gough
Ellie Sweeney 020 3727 1000
This announcement is made by St. Modwen Properties PLC and
contains information that qualified or may have qualified as inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 (the "MAR"), encompassing information
relating to the optional redemption of the Bonds described above.
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is made by Rob Hudson,
Chief Financial Officer of St. Modwen.
DISCLAIMER - INTENDED ADDRESSEES
This announcement is for information purposes only and is not a
prospectus and does not constitute an offer to subscribe for or buy
shares, the Bonds or other securities of the Issuer (the
"Securities") in any jurisdiction. This announcement and the fact
of its distribution is not and should not be seen as an inducement
in relation to a decision to purchase Securities.
The contents of this announcement have been prepared by and are
the sole responsibility of the Company.
Notes to Editors
St. Modwen Properties PLC: St. Modwen is a different kind of
property partner, taking a different view. Thirty years' experience
as an expert developer and regeneration specialist, dealing with
complex and challenging sites, has taught us to look at things
differently, challenge the norm and create new and sustainable
solutions to benefit all those involved. Today, we continue to
unlock value and deliver quality outcomes across a wide range of
activities, from regeneration to the long-term planning and
development of commercial and residential assets, as well as active
asset management.
We combine end-to-end expertise - through our network of
regional offices, our residential business and our central asset
management team, and through joint ventures with public sector and
industry leading partners - to deliver lasting results for all
concerned. We create places where communities grow, businesses
flourish and people can feel and be at home.
St. Modwen's GBP1.5bn national portfolio of over 100 projects
includes the regeneration of New Covent Garden Market, London; the
transformation of Longbridge, Birmingham; and the on-going
development of the GBP450 million Bay Campus for Swansea
University. St. Modwen Homes is currently selling on 19 sites
across the country and our asset management team pro-actively
manages our GBP692 million income-producing portfolio.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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