UK Government Investments Limited – Disposes approximately 7.7% of The Royal Bank of Scotland Group plc (LON:RBS).
Further to its announcement on 4 June 2018, UKGI announced today the successful completion of the disposal of part of HM Treasury’s shareholding in The Royal Bank of Scotland Group plc. The disposal was effected by way of a Placing of ordinary shares by way of an accelerated bookbuilding process to institutional investors.
In summary, following settlement of the Placing which will take place on 7 June 2018:
· The shareholding of HM Treasury will be reduced from 8,434,483,519 ordinary shares, representing approximately 70.1% of the ordinary share capital of the Company, to 7,509,483,519 ordinary shares, representing approximately 62.4% of the ordinary share capital.
· The placing price was 271 pence per Placing Share. As a result, the proceeds from the sale of the Placing Shares will be £2,506,750,000.
