LCP Proudreed PLC - Irish Stock Exchange

SUBSCRIPTION AND SALE
HSBC Bank plc whose principal offices are located at 8 Canada Square, London E14 5HQ, United
Kingdom and Société Générale, London Branch whose principal offices are located at SG House, 41
Tower Hill, London, EC3N 4SG, United Kingdom (the ‘‘Joint Lead Managers’’) have, pursuant to a
subscription agreement dated the date of this Offering Circular between, among others, the Joint Lead
Managers and the Issuer (the ‘‘Subscription Agreement’’), agreed (subject to certain conditions) with the
Issuer to subscribe and pay for the Notes at the issue price of 100 per cent of their initial principal amount.
The Issuer has agreed to reimburse each of the Joint Lead Managers for certain of its costs and expenses
in connection with the issue of the Notes. Each Joint Lead Manager is entitled to be released and
discharged from its obligations under the Subscription Agreement in certain circumstances prior to
payment for the Notes to the Issuer. The Issuer has agreed to indemnify the Joint Lead Managers against
certain liabilities in connection with the issue of the Notes.
EEA Standard Selling Restriction
In relation to each Member State of the European Economic Area which has implemented the Prospectus
Directive (each, a ‘‘Relevant Member State’’), each Joint Lead Manager has represented and agreed that
with effect from and including the date on which the Prospectus Directive is implemented in that Relevant
Member State (the ‘‘Relevant Implementation Date’’) it has not made and will not make an offer of Notes
to the public in that Relevant Member State prior to the publication of a prospectus in relation to the
Notes which has been approved by the competent authority in that Relevant Member State or, where
appropriate, approved in another Relevant Member State and notified to the competent authority in that
Relevant Member State, all in accordance with the Prospectus Directive, except that it may, with effect
from and including the Relevant Implementation Date, make an offer of Notes to the public in that
Relevant Member State at any time:
(i) to legal entities which are authorised or regulated to operate in the financial markets or, if not so
authorised or regulated, whose corporate purpose is solely to invest in securities;
(ii) to any legal entity which has two or more of (1) an average of at least 250 employees during the last
financial year; (2) a total balance sheet of more than Euro 43,000,000 and (3) an annual net turnover
of more than Euro 50,000,000, as shown in its last annual or consolidated accounts; or
(iii) in any other circumstances which do not require the publication by the Issuer of a prospectus
pursuant to Article 3 of the Prospectus Directive.
For the purposes of this provision, the expression an ‘‘offer of Notes to the public’’ in relation to any Notes
in any Relevant Member State means the communication in any form and by any means of sufficient
information on the terms of the offer and the Notes to be offered so as to enable an investor to decide
to purchase or subscribe the Notes, as the same may be varied in that Member State by any measure
implementing the Prospectus Directive in that Member State and the expression ‘‘Prospectus Directive’’
means Directive 2003/71/EC and includes any relevant implementing measure in each Relevant Member
State.
United States of America
The Notes have not been and will not be registered under the Securities Act and may not be offered or
sold within the United States or to, or for the account or benefit of, US persons except in certain
transactions exempt from the registration requirements of the Securities Act. Terms used in this
paragraph have the meanings given to them by Regulation S.
The Notes are in bearer form and are subject to US tax law requirements and may not be offered, sold
or delivered within the United States or its possessions or to a United States person, except in certain
transactions permitted by US tax regulations. Terms used in this paragraph have the meanings given to
them by the US Internal Revenue Code of 1986 and regulations thereunder.
Each Joint Lead Manager has agreed that it will not offer or sell the Notes, (i) as part of its distribution
at any time and (ii) otherwise until 40 days after the later of the commencement of the offering or the
Closing Date, within the United States or to, or for the account or benefit of, US persons, and it will have
sent to each distributor, dealer or person receiving a selling concession, fee or other remuneration to
which it sells Notes during the distribution compliance period (as defined in Regulation S) a confirmation
or other notice setting forth the restrictions on offers and sales of the Notes within the United States or
to, or for the account or benefit of, US persons.
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