Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Great Portland Ests. (GPOR)

  Print      Mail a friend       Annual reports

Thursday 22 February, 2007

Great Portland Ests.

Early Redemption of Debt

Great Portland Estates PLC
22 February 2007



THIS PRESS RELEASE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO
THE UNITED STATES.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE SECURITIES.


22 February 2007

Early redemption of Debt Instruments

Great Portland Estates plc (GPE) announces two transactions to simplify its debt
capital structure and reduce the cash cost of financing. Assuming the
transactions complete, diluted NAV per share and EPS will be marginally
enhanced.

5.25 per cent Convertible Bonds due 2008 (the Bonds)

GPE wishes to exercise its option, under Condition 8(c)(i) of the Bonds, to
redeem the Bonds presently outstanding in full at their principal amount. The
Bonds will be redeemed in full on 31 March 2007 (the Bond Redemption Date),
together with interest accrued to (but excluding) the Bond Redemption Date.

Bondholders may avoid the redemption by GPE by exercising the Bondholders' right
(the Conversion Right) to convert the Bonds they hold into registered Ordinary
Shares of 12.5 pence each in the capital of GPE (the Ordinary Shares) in
accordance with Condition 7(a) of the Bonds. The Conversion Right may be
exercised by Bondholders up to the close of business on 23 March 2007.

The number of Ordinary Shares to be issued on exercise of a Conversion Right is
to be determined by dividing the principal amount of the relevant Bond(s) by the
conversion price (the Conversion Price). The Conversion Price is currently 310
pence per Ordinary Share, but is subject to adjustment in the circumstances set
out in Condition 7(b) of the Bonds, and will be calculated on the London
business day following delivery of the Conversion Notice (as defined in the 
Conditions of the Bonds).

The Current Market Price of the Ordinary Shares (as defined in Condition 7(b))
as at 20 February 2007, being the latest practicable date for calculation before
publication of this notice, was 778 pence per Ordinary Share. The aggregate
principal amount of Bonds outstanding as of 21 February 2007 was £49.6 million.
Assuming all Bondholders exercise their Conversion Right, GPE would issue a
further 16 million new Ordinary Shares.

                                  IMPORTANT
Value of the Ordinary Shares into which each £1,000 principal amount of Bonds is 
convertible based on the Current Market Price of the Ordinary Shares as at 
20 February 2007 (ignoring fractions of Ordinary Shares)                  £2,505

Redemption Price (including accrued interest) for each £1,000 principal amount 
of the Bonds                                                              £1,004


7.25 per cent First Mortgage Debenture Stock 2027 (the Stock)

GPE wishes to redeem the whole of the Stock presently outstanding. The Stock
will be redeemed in full on 28 March 2007 (the Stock Redemption Date).
The redemption price will be 132.05 per cent, as determined in accordance with
Condition 2(A) of the Stock as at 3.00 p.m. on 19 February 2007, together with
the interest (on the nominal thereto) accrued up to and including the Stock
Redemption Date. The aggregate principal amount of Stock outstanding as of 21
February 2007 was £36,850.

Following redemption on the Stock Redemption Date, the Stock shall be cancelled.


Contacts:

Great Portland Estates plc
Timon Drakesmith, Finance Director             020 7647 3034

The communication of this press release is only being made to those persons in
the United Kingdom who fall within Article 42(1)(c) and/or Article 43(2) of the
Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 or any
other persons to whom it may otherwise lawfully be made under that Order.

Copies of this press release are not being, and must not be, mailed or otherwise
forwarded, distributed or sent in or into or from the United States, and persons
receiving this press release (including custodians, nominees and trustees) must
not mail or otherwise forward, distribute or send it into or from the United
States. GPE will neither consider nor respond to any communications in respect
of offers of Stock or Bonds made by persons in the United States.




                      This information is provided by RNS
            The company news service from the London Stock Exchange