SYT » Topics » Put Option

This excerpt taken from the SYT 20-F filed Feb 18, 2009.
Put Option"), the bearer of this Global Note must, within the period specified in the Conditions for the deposit of the relevant Note and Put Option Notice, give written notice of such exercise to the Principal Paying Agent specifying the principal amount of Notes in respect of which the Put Option is being exercised.  Any such notice shall be irrevocable and may not be withdrawn.
 
11.
EXERCISE OF CALL OPTION
 
In connection with an exercise of the option contained in Condition 10(c) (Redemption at the option of the Issuer) in relation to some only of the Notes, this Global Note may be redeemed in part in the principal amount specified by the Issuer in accordance with the Conditions and the Notes to be redeemed will not be selected as provided in the Conditions but will be selected in accordance with the rules of Euroclear and/or Clearstream, Luxembourg and/or any other relevant clearing system.
 
12.
NOTICES
 
Notwithstanding Condition 20 (Notices), while all the Notes are represented by this Global Note (or by this Global Note and a temporary global note) and this Global Note is (or this Global Note and a temporary global note are) deposited with a depositary or  a common depositary for Euroclear and/or Clearstream, Luxembourg and/or any other relevant clearing system, notices to Noteholders may be given by delivery of the relevant notice to Euroclear and/or Clearstream, Luxembourg and/or any other relevant clearing system and, in any case, such notices shall be deemed to have been given to the Noteholders in accordance with Condition 20 (Notices) on the date of delivery to Euroclear and/or Clearstream, Luxembourg and/or any other relevant clearing system.
 
Whilst any of the Notes are represented by this Global Note (or by this Global Note and a temporary global note), such notice may be given by any holder of this Global Note (or this Global Note and a temporary global note) to the Principal Paying Agent through Euroclear and/or Clearstream, Luxembourg, as the case may be, in such manner as the Principal Paying Agent and Euroclear and/or Clearstream, Luxembourg, as the case may be, may approve for this purpose.
 
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13.
REDENOMINATION
 
If the Notes are redenominated pursuant to Condition 22 (Redenomination, Renominalisation and Reconventioning), then following redenomination;
 
13.1
Denominations: if Definitive Notes are required to be issued, they shall be issued at the expense of the Issuer in the denominations of euro 0.01, euro 1,000, euro 10,000. euro 100,000 and such other denominations as the Principal Paying Agent shall determine and notify to the Noteholders; and
 
13.2
Calculation of interest: the amount of interest due in respect of Notes represented by this Global Note will be calculated by reference to the aggregate principal amount of such Notes and the amount of such payment shall be rounded down to the nearest euro 0.01.
 
14.
AUTHENTICATION
 
This Global Note shall not be valid for any purpose until it has been authenticated for and on behalf of The Bank of New York Mellon, as Principal Paying Agent.
 
15.
GOVERNING LAW
 
This Global Note and all matters arising from or connected with it, including all non-contractual obligations arising out of or in connection with this Global Note, are governed by English law.
 
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