Bristol & West PLC
31 August 2007
£75,000,000 103/4 per cent. Subordinated Bonds due 2018
£75,000,000 13 3/8 per cent. Unsecured Perpetual Subordinated Bonds
by
Bristol & West plc
ISIN numbers: XS0044196425 and GB0000510312 respectively; SEDOL Codes: 0125817
and 0051031 respectively
On 6 June 2007 Bristol & West plc ('Bristol & West') announced that, as part of
a proposed internal reorganisation, its ultimate parent company, the Governor
and Company of the Bank of Ireland ('Bank of Ireland') acting through its United
Kingdom branch would be substituted as obligor in place of Bristol & West under
Bristol & West's listed bonds, being the Subordinated Bonds due 2018 (LSE: BB84)
and the Unsecured Perpetual Subordinated Bonds (LSE: BRS) (together, the
'Bonds').
As part of that process and in accordance with its obligations under Listing
Rule 5.2.8R, Bristol & West today announces that it has applied to the Financial
Services Authority, in its capacity as the United Kingdom Listing Authority, to
cancel, subject to the two conditions stated below, the listing on the Official
List of the United Kingdom Listing Authority and the trading on the London Stock
Exchange of the Bonds as Bristol & West debt securities.
It is intended that the Bonds and all of the rights, benefits, powers,
obligations and interests of Bristol & West in the Bonds will be transferred to
and vested in the United Kingdom branch of the Governor and Company of the Bank
of Ireland pursuant to a court approved scheme under Part VII of the Financial
Services and Markets Act 2000 for the transfer to the United Kingdom branch of
the Bank of Ireland of the deposit-taking, mortgage and home finance businesses
of Bristol & West (the 'Scheme'). The Scheme is expected to become effective on
1 October 2007 (the 'Effective Date').
The applications for the cancellation of listing and trading referred to above
are conditional upon (i) the High Court of Justice in England and Wales making
an order sanctioning the Scheme to take effect from the Effective Date and (ii)
the simultaneous admission to listing on the Official List of the United Kingdom
Listing Authority and to trading of the Bonds on the London Stock Exchange as
debt securities of Bank of Ireland.
Enquiries to:
Bristol & West plc
Richard Holden, Company Secretary
Tel: +44 117 943 2583
Date: 31 August 2007
This information is provided by RNS
The company news service from the London Stock Exchange