National Grid North America Inc. Conversion Price Adjustment (2056I)
22 Novembro 2018 - 8:19AM
UK Regulatory
TIDM75TX
RNS Number : 2056I
National Grid North America Inc.
22 November 2018
22 November 2018
NATIONAL GRID NORTH AMERICA INC.
GBP400,000,000 0.90 per cent. Convertible Bonds due 2020 (the
"Bonds")
XS1297646439
NOTICE OF ADJUSTMENT TO THE CONVERSION PRICE
This Notice is being issued by and on behalf of National Grid
North America Inc. (the "Issuer") as issuer of the Bonds. We refer
to the terms and conditions of the Bonds (the "Conditions")
contained in the Trust Deed dated 1 October 2015 and made between
the Issuer and The Law Debenture Trust Corporation p.l.c. All words
and expressions defined in the Conditions shall (save as otherwise
provided herein or unless the context otherwise requires) have the
same meanings herein.
On 8 November 2018, National Grid plc announced an
interim-dividend of 16.08 pence per Ordinary Share (the
"Interim-Dividend"). The Ex-Dividend Date in respect of such
Interim-Dividend fell on 22 November 2018.
The Interim-Dividend exceeded the Dividend Threshold for the
Relevant Period, and accordingly results in a downward adjustment
to the Conversion Price pursuant to Condition 6 of the Bonds. The
adjusted Conversion Price per Ordinary Share with effect from the
Relevant Adjustment Date is GBP11.6945 and the adjusted Dividend
Threshold from the Relevant Adjustment Date is
Relevant Period Dividend Threshold
(GBP)
From (and including) 22 November
2018 but on or before 31 March 2019 0
-------------------
Thereafter, but on or before 30 September
2019 0.2352
-------------------
Thereafter, but on or before 31 March
2020 0.1371
-------------------
Thereafter, but on or before 30 September
2020 0.2352
-------------------
Thereafter, but on or before 2 November
2020 0
-------------------
The Relevant Adjustment Date is 22 November 2018.
DISCLAIMER
This announcement may not be forwarded or distributed to any
other person and may not be reproduced in any manner whatsoever.
Any forwarding, distribution or reproduction of this announcement
in whole or in part is unauthorised. Failure to comply with this
directive may result in violation of the United States Securities
Act of 1933, as amended (the "Securities Act") or the applicable
laws of any such other jurisdiction.
This announcement is not an offer of securities for sale in the
United States. The securities to which this announcement relates
have not been registered under the Securities Act and may not be
offered or sold in the United States or to, or for the account or
benefit of, U.S. persons, absent registration or an exemption from
registration under the Securities Act. There will be no public
offering of the securities in the United States.
This announcement has been prepared solely for information
purposes and is not an offer (or a solicitation of an offer) to buy
or sell any securities in any jurisdiction.
CONTACTS
Investors and Analysts
Fixed Income
Kwok Liu +44 7900 405729 (m)
--------------------
Equity
Will Jackson +44 7584 206578 (m)
--------------------
Tom Edwards +44 7976 962791 (m)
--------------------
Media
National Grid
Sean Kemp +44 7960 012356 (m)
--------------------
Teneo
Charles Armitstead +44 (0)20 7420 3199
--------------------
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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