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”).


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.


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.


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.


We store and use information you provide as follows:

  • to present content effectively;
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  • 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.


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.


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.


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.


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.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Vedanta Resources (VED)

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Friday 08 January, 2010

Vedanta Resources

Convertible bond redemption

RNS Number : 2935F
Vedanta Resources PLC
08 January 2010

Notice dated 8 january 2010

Vedanta Finance (Jersey) Limited 

Redemption Notice of US$725,000,000 4.60 per cent Guaranteed

Convertible Bonds Due 2026 (ISIN: XS0241675932) (the "Bonds") issued by

Vedanta Finance (Jersey) Limited (the "Issuer")

and guaranteed by Vedanta Resources PLC (the "Guarantor")

To:     All holders of the Bonds (the "Bondholders") 

          The Bank of New York (Mellon) in its capacity as trustee (the "Trustee")

Given that the Aggregate Value* per Bond has traded above U.S.$130,000 for 30 dealing days, from 24 November 2009 to 7 January 2010, the Company has decided to exercise its option to redeem the Bonds. Set out below are details of the redemption notice, which is being delivered in full to the Euroclear Bank S.A./N.V., as operator of the Euroclear system ("Euroclear") and Clearstream Banking, société anonyme ("Clearstream") in accordance with the provisions of the Offering Circular dated 20 February 2006. 

The Issuer has opted to give an optional redemption notice period to Bondholders of 31 days (being not less than 30 days nor more than 60 days) as required under the terms and conditions of the Bonds. In the event that Bondholders wish to convert their Bonds into preference shares in the Issuer (the "Preference Shares") to be delivered to the Guarantor in exchange for global depositary receipts ("GDRs") representing ordinary shares (the "Ordinary Shares") in the Guarantor, as opposed to having their Bonds redeemed, they have up to and including 2 February 2010 to convert those Bonds.

For further information on the terms and conditions of the GDRS see the section entitled Terms and Conditions contained in the listing particulars dated 11 May 2006.

Optional Redemption Notice:

Capitalised terms used herein shall have the same meanings as those ascribed to them in the terms and conditions of the Bonds.

Notice is hereby given that the Issuer will redeem all outstanding Bonds in full prior to the Final Maturity Date pursuant to Condition 9(b) (Redemption at the Option of the Issuer) at their principal amount together with accrued interest up to but excluding the Optional Redemption Date (as defined below), details of which are set out below:

Optional Redemption Date:

8 February 2010

Exchange Price as at 7 January 2010, being the latest practicable date prior to the publication of this Notice:

£14.52 per Ordinary Share 

(US$25.91 translated into pounds sterling at the fixed exchange rate of US$1.7845 = £1.00)

Aggregate principal amount outstanding of the Bonds as at 7 January 2010, being the latest practicable date prior to the publication of this Notice:


Closing price of the Ordinary Shares as at 7 January 2010, being the latest practicable date prior to the publication of this Notice:


Conversion Period: 

Up to close of business (at the place where the relevant Bond is delivered for conversion) on 2 February 2010

  *Aggregate Value means, in respect of any dealing day, the value expressed in U.S. dollars calculated in accordance with the following formula, as specified in Condition 4 (Definitions) of the Bonds:

AV = OS x MP


AV     =     the Aggregate Value;

OS     =     the number of Ordinary Shares that would fall to be delivered in relation to the exercise of Conversion Rights in respect of a Bond in the principal amount of  U.S.$100,000 assuming for this purpose the Conversion Date to be such dealing day and that Condition 8(a)(ii) shall not be applicable.

MP     =     the closing price for the Ordinary Shares as published by or derived from the Relevant Stock Exchange on such dealing day (provided that if on such dealing day the Ordinary Shares shall be quoted cum-Dividend or cum-any other entitlement the closing price on such dealing day shall be deemed to be the amount thereof reduced by an amount equal to the Fair Market Value of any such Dividend or entitlement per Ordinary Share as at the date of first public announcement of such Dividend or entitlement per Ordinary Share as at the date of first public announcement of such Dividend or entitlement (excluding any associated tax credit and less the tax (if any) falling to be deducted on payment thereof to a resident of the United Kingdom)), translated into U.S. dollars at the Prevailing Rate on such dealing day. 

Condition 9(b) (Redemption at the Option of the Issuer) provides that the outstanding Bonds may, at the option of the Issuer, be redeemed at their principal amount plus accrued interest up to the Optional Redemption Date, provided that at any time on or after 14 March 2009, on 30 consecutive dealing days ending not earlier than 14 days prior to the giving of the Optional Redemption Notice, the Aggregate Value for each such dealing day exceeds US$130,000. This proviso was satisfied as at the close of business on 7 January 2010.

The Issuer intends to complete any formalities in relating to the delisting of the Bonds from the London Stock Exchange as soon as possible following the redemption of the outstanding Bonds on 8 February 2010.

Enquiries to:

Vedanta Resources PLC

Ashwin Bajaj

Vice President - Investor Relations

+91 22 6646 1531

[email protected]

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

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