BD45 Lewis Php.5%Pf

TIDMBD45

RNS Number : 8775Y

Lewis(John)Partnership PLC

04 December 2014

John Lewis Partnership plc

(the "Company")

General Meeting

4 December 2014

The Board of the Company announced today that it has convened a General Meeting to be held at short notice by the consent of the requisite majority of Ordinary Shareholders at Partnership House, Carlisle Place, London, SW1P 1BX at 13.45 on 4 December 2014.

The purpose of the General Meeting is to approve certain minor, technical amendments to the Company's articles of association that are required to facilitate the mechanics of holding and trading in the units (i) in the Company's 5 per cent First Cumulative Preference Stock and (ii) in the Company's 7 1/2 per cent Cumulative Preference Stock (together, the "Preference Shares") in order to comply with the Company's legal obligations under the EU Regulation on Central Securities Depositories (the "CSD Regulation").

Under Article 3(2) of the CSD Regulation, with effect from 1 January 2015, where transactions in transferable securities take place on a trading venue (which for these purposes includes the London Stock Exchange), the relevant securities should be recorded in "book entry form" (i.e. in dematerialised form) in a Central Securities Depository on or before the intended settlement date (unless already so recorded). This requirement will apply to the Preference Shares, which are currently admitted to the standard segment of the Official List maintained by the Financial Conduct Authority and admitted to trading on the London Stock Exchange's regulated market for listed securities.

Additionally, the Board believes that adopting the measures necessary to accommodate settlement and holding of the Preference Shares in dematerialised form may be of assistance in establishing a matching facility to facilitate liquidity in the Preference Shares in future. Should the Board take steps to establish such a facility, an announcement will be made at that time.

A circular to shareholders containing a notice of General Meeting has today been sent to those shareholders of the Company who are entitled to receive notice of a General Meeting of the Company. Under the Company's articles of association, the Preference Shareholders have no right to receive notice of a General Meeting and no right to attend and vote at a General Meeting unless the preferential dividend is six months in arrear or the resolution to be proposed at the General Meeting relates to winding up the Company or directly affects the interest of the Preference Shares as a class.

The preferential dividend payable on the Preference Shares is not in arrear. The Board has concluded that the matters being voted on do not directly affect the interest of the Preference Shareholders as a class since the purpose of the amendments to the Articles is simply to facilitate the mechanics of holding and trading in the Preference Shares in order to comply with the Company's legal obligations under the CSD Regulation. Accordingly, Preference Shareholders were not entitled to receive notice of the General Meeting and will not be entitled to attend and vote at the General meeting.

Copies of the full terms of the proposed amendments to the Company's articles of association and the notice of General Meeting will be available for inspection at the registered office of the Company during usual business hours on any weekday (excluding Saturdays, Sundays and public holidays) up to and including 4 December 2014 and at Partnership House, Carlisle Place, London SW1P 1BX during the General Meeting and for at least 15 minutes before its start.

Subject to the requisite majority of Shareholders voting in favour of the resolution to be proposed at the General Meeting, it is expected that the new articles of association will be adopted with effect from 4 December 2014.

A copy of the circular to shareholders containing a notice of General Meeting referred to above has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do

This information is provided by RNS

The company news service from the London Stock Exchange

END

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