Further re Debentures Pricing
The Throgmorton Trust PLC and T.T. Finance PLC
Debentures Pricing
NOT FOR DISTRIBUTION TO ANY PERSON RESIDENT OR LOCATED IN THE UNITED STATES OR
ITALY
This announcement is made in connection with the Offer and the Proposal (both
as defined in The Throgmorton Trust PLC Debenture Stock Tender Offer Memorandum
dated Thursday, 31 July 2008 and the T.T. Finance PLC Guaranteed Debenture
Stock Tender Offer Memorandum dated Thursday, 31 July 2008 (the "Tender Offer
Memoranda")), and the early redemption of The Throgmorton Trust PLC's
£19,118,645 12 5/16 per cent. Debenture Stock 2010 of which £17,168,645 is
outstanding and T.T. Finance PLC's outstanding £15,000,000 11 5/16 per cent.
Guaranteed Debenture Stock 2018 in accordance with the terms and conditions of
the stocks, as amended pursuant to the relevant Proposal.
The final pricing details for the relevant Offer and such redemption, as
determined by UBS Investment Bank at or around 9.00 a.m. today, Wednesday,
27 August 2008, are as follows:
The Throgmorton Trust PLC's £19,118,645 12 5/16 per cent. Debenture Stock 2010
* Settlement Date: 3 September 2008
* Benchmark Security: 4.75 per cent. UK Treasury Gilt due
June 2010
* Mid-Market Benchmark Security 4.456 per cent.
Rate:
* Repurchase Price: 111.241 per cent.
* Early Tender Premium: 4.160 per cent.
* Effective Early Tender Price: 115.401 per cent.
* Accrued Interest: 3.196 per cent.
T.T. Finance PLC's outstanding £15,000,000 11 5/16 per cent. Guaranteed
Debenture Stock 2018
* Settlement Date: 3 September 2008
* Benchmark Security: 5.00 per cent. UK Treasury Gilt due
March 2018
* Mid-Market Benchmark Security 4.475 per cent.
Rate:
* Repurchase Price: 137.618 per cent.
* Early Tender Premium: 13.779 per cent.
* Effective Early Tender Price: 151.397 per cent.
* Accrued Interest: 2.936 per cent.
Note: Accrued interest is shown rounded to nearest 0.001 per cent for
indicative purposes only; for actual calculations, accrued interest will be
rounded to nearest £0.01 based on the aggregate nominal amount of each holder's
repurchased/redeemed Stock.
Sterling cheques for (i) the amount payable to each stockholder for stocks
repurchased at the relevant repurchase price pursuant to the relevant Offer,
any early tender premium (if applicable) and accrued interest or, as the case
may be, (ii) the early redemption amount, any voting only early submission
amount (if applicable) and accrued interest, will be posted by the Registrar to
stockholders on the Early Redemption Date for each offer, which will also be
the respective Settlement Date.
The relevant offers and the separate proposals were made on the terms and
subject to the conditions contained in the relevant Tender Offer Memoranda.
This announcement should be read in conjunction with the relevant Tender
Offer Memoranda.
Stockholders should contact the following for further information:
The Dealer Manager:
UBS Investment Bank at 1 Finsbury Avenue, London EC2M 2PP, Attention:
Liability Management Group, Tel: +44 20 7567 7480.
The Registrar:
Capita Registrars, The Registry at 34 Beckenham Road, Beckenham, Kent BR3
4TU, Tel: 0871 664 0321. Calls cost 10 pence per minute plus network extras.
Copies of the Tender Offer Memoranda are available for inspection at the
Document Viewing Facility of the Financial Services Authority, 25 The North
Colonnade, London E14 5HS.
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