Virgin Media 2011 Annual Report Download - page 81
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Please find page 81 of the 2011 Virgin Media annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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Conversion Hedges
We have entered into conversion hedges with certain counterparties relating to our $1.0 billion 6.50%
convertible senior notes due 2016. The conversion hedges are intended to offset a portion of the dilutive effects
that could potentially be associated with conversion of the convertible senior notes at maturity and provide us
with the option to receive the number of shares of our common stock (or in certain circumstances cash) with a
value equal to the excess of (a) the value owed by us (up to the cap price of $35.00 per share) to convertible
senior note investors pursuant to the terms of the notes on conversion of up to 90% of the notes over (b) the
aggregate face amount of such converted notes upon maturity of the convertible senior notes.
80