Tesco Compensation Scheme: Bondholder Claims Process

TCS: Bondholder Claims Process

Important information on how we are implementing the claims process for Tesco bondholders.

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Update:

Beneficial owners of relevant Tesco bonds purchased between 29 August 2014 and 19 September 2014 (the “Relevant Period”) may be entitled to compensation under the Tesco Scheme.

DF King Limited, in their capacity as Information Agent for Tesco, have initiated a disclosure process whereby beneficial owners of relevant Tesco bonds held via an account with Euroclear or Clearstream on 2 September 2014 and 24 September 2014 (such dates being the start and the end of the relevant period plus the usual three day settlement cycle) will receive two separate notifications. 

If a beneficial owner considers itself to have been a net purchaser of relevant bonds during the Relevant Period they should submit, via their usual intermediary, electronic instructions to Euroclear or Clearstream at both dates confirming their holdings of relevant bonds and providing additional information as requested in the notification. A unique instruction code will be generated by Euroclear or Clearstream and provided to the beneficial owner for each valid instruction submitted. 

At commencement of the Tesco Scheme in August 2017 an additional notification will be sent to Euroclear and Clearstream bondholders informing them that the scheme has commenced and requesting that they log on to the online claims portal and submit their claim (utilising their unique instruction codes and providing additional supporting information as required).

Due to technological restrictions inherent in the DTC clearing system, beneficial owners of relevant Tesco bonds held via the DTC clearing system are unable to participate in a same disclosure process as Euroclear and Clearstream holders. In light of these restrictions, at the launch of the Scheme DF King will contact registered holders of DTC held relevant Tesco bonds as at 3 September 2014 and 24 September 2014 requesting that they contact the ultimate beneficial owners of these bonds and provide them with details of the Tesco Scheme. At commencement of the Tesco Scheme, beneficial owners of DTC held bonds who consider themselves to be a net purchaser should log on to the online claims portal and submit their claim together with any additional supporting information as required.   

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