National Grid 2008 Annual Report Download - page 346

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 50994
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.7.1, Doc: 8, Page: 3
Description: EXH 2(B).7.1
0/1757.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/757/1*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 50994
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.7.1, Doc: 8, Page: 3 Description: EXH 2(B).7.1
0/1757.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/757/1*
reasonably likely to involve a chan
g
e) in the affairs of either of the Issuers since the date of this Prospectus or the date upon
which this Prospectus has been most recently amended or supplemented or that there has been no adverse chan
g
e (or any
event reasonably likely to involve any adverse chan
g
e) in the financial position of either of the Issuers since the date of this
Prospectus or the date upon which this Prospectus has been most recently amended or supplemented or that any other
information supplied in connection with the Pro
g
ramme is correct as of any time subsequent to the date on which it is supplied
or, if different, the date indicated in the document containing the same.
The distribution of this Prospectus and the offerin
g
, distribution or sale of the Instruments in certain jurisdictions may be
restricted by law. Persons into whose possession this Prospectus or any Final Terms comes are required by the Issuers, the
Dealers and the Arran
g
er to inform themselves about and to observe any such restriction. The Instruments have not been and
will not be re
g
istered under the United States Securities Act of 1933, as amended and will be in bearer form and subject to U.S.
tax law requirements. Subject to certain exceptions, Instruments may not be offered, sold or delivered within the United States
or to U.S. persons. For a description of certain restrictions on offers and sales of Instruments and on distribution of this
Prospectus or any Final Terms, see “Plan of Distribution”.
Neither this Prospectus nor any Final Terms constitutes an offer of, or an invitation by or on behalf of either of the Issuers or the
Dealers to subscribe for, or purchase, any Instruments.
None of the Dealers, the Arran
g
er or the Trustee have independently verified the information contained in this Prospectus.
None of the Dealers, the Arran
g
er or the Trustee makes any representation, express or implied, or accepts any responsibility,
with respect to the accuracy or completeness of any of the information in this Prospectus. Neither this Prospectus nor any other
financial statements are intended to provide the basis of any credit or other evaluation and should not be considered as a
recommendation by either of the Issuers, the Arran
g
er, the Dealers or the Trustee that any recipient of this Prospectus or any
other financial statements should purchase the Instruments. Each potential purchaser of Instruments should determine for itself
the relevance of the information contained in this Prospectus and its purchase of Instruments should be based upon such
investi
g
ation as it deems necessary. None of the Dealers, the Arran
g
er or the Trustee undertakes to review the financial
condition or affairs of any of the Issuers or the Guarantor durin
g
the life of the arran
g
ements contemplated by this Prospectus
or to advise any investor or potential investor in the Instruments of any information comin
g
to the attention of any of the
Dealers, the Arranger or the Trustee.
In this Prospectus, unless otherwise specified or the context otherwise requires, references to “euro” are to the currency of
those member states of the European Union which are participatin
g
in European Economic and Monetary Union pursuant to the
Treaty establishing the European Community, as amended, to “Japanese yen” are to the lawful currency of Japan, to “£” and
“Sterling” are to the lawful currency of the United Kingdom, to “U.S.$” and “U.S. dollars” are to the lawful currency of the
United States of America, to “Canadian dollars” are to the lawful currency of Canada, to “Australian dollars” are to the lawful
currency of Australia, to “New Zealand dollars” are to the lawful currency of New Zealand, to “Swedish krona” are to the
lawful currency of Sweden, to “Danish krone” are to the lawful currency of Denmark, to “Hong Kong dollars” are to the lawful
currency of Hong Kong and to “Swiss francs” are to the lawful currency of Switzerland.
In connection with the issue of any Tranche (as defined in “Overview of the Programme”), the Dealer or Dealers (if
any) named as the stabilising manager(s) (the “Stabilising Manager(s)”) in the applicable Final Terms (or any person
acting on behalf of any Stabilising Manager(s)) may over-allot Instruments or effect transactions with a view to
supporting the market price of the Instruments at a level higher than that which might otherwise prevail. However,
there is no assurance that the Stabilising Manager(s) (or any person acting on behalf of any Stabilising Manager) will
undertake stabilisation action. Any stabilisation action may begin on or after the date on which adequate public
disclosure of the final terms of the offer of the relevant Tranche is made and, if begun, may be ended at any time, but it
must end no later than the earlier of 30 days after the issue date of the relevant Tranche and 60 days after the date of
the allotment of the
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