Primary Health Properties adjusts bond exchange price, plans redemption

Primary Health Properties PLC, a leading investor in modern primary health facilities, has announced an adjustment to the exchange price for new ordinary shares related to the 2.875% Guaranteed Convertible Bonds due in July. The exchange price has been adjusted to £1.2178 per Ordinary Share, following condition 6.3(D) of the bond's issuance terms. Concurrently, the company confirmed it will redeem the outstanding £150,000,000 nominal of Convertible Bonds upon their maturity on July 15, using its existing revolving credit facilities. Rathbones Investment Management Limited has notified that on July 1, its voting rights in the company crossed a threshold, resulting in a 4.982400% holding of voting rights attached to shares, totaling 66,588,913 votes. The notification was completed on July 2. The change in voting rights is ultimately controlled through Rathbones Group Plc.