Lloyds Banking Group PLC Update on Enhanced Capital Notes (4717O)
February 09 2016 - 2:00AM
UK Regulatory
TIDMLLOY
RNS Number : 4717O
Lloyds Banking Group PLC
09 February 2016
9 February 2016
UPDATE ON ENHANCED CAPITAL NOTES
Further to the announcement dated 29 January 2016 released by
Lloyds Banking Group plc (the Group) in respect of the Enhanced
Capital Notes (ECNs) issued by LBG Capital No. 1 plc and LBG
Capital No. 2 plc, the Group has been notified that the Supreme
Court has granted the ECN Trustee leave to appeal the Court of
Appeal's decision of 10 December 2015.
LBG is reviewing this decision and will provide a further update
later today.
- END -
For further information:
Investor Relations
Douglas Radcliffe +44 (0) 20 7356 1571
Group Investor Relations Director
Email: douglas.radcliffe@finance.lloydsbanking.com
Corporate Affairs
Matt Smith +44 (0) 20 7356 3522
Head of Corporate Media
Email: matt.smith@lloydsbanking.com
FORWARD LOOKING STATEMENTS
This announcement contains certain forward-looking statements
with respect to the business, strategy and plans of the Group and
its current goals and expectations relating to its future financial
condition and performance. Statements that are not historical
facts, including statements about the Group's or its directors'
and/or management's beliefs and expectations, are forward-looking
statements. By their nature, forward-looking statements involve
risk and uncertainty because they relate to events and depend upon
circumstances that will or may occur in the future. Factors that
could cause actual business, strategy, plans and/or results to
differ materially from the plans, objectives, expectations,
estimates and intentions expressed in such forward-looking
statements made by the Group or on its behalf include, but are not
limited to: general economic and business conditions in the United
Kingdom and internationally; market related trends and
developments; fluctuations in exchange rates, stock markets and
currencies; the ability to access sufficient sources of capital,
liquidity and funding when required; changes to the Group's credit
ratings; the ability to derive cost savings; changing customer
behaviour including consumer spending, saving and borrowing habits;
changes to borrower or counterparty credit quality; instability in
the global financial markets, including Eurozone instability, the
potential for one or more countries to exit the Eurozone or
European Union (EU) (including the United Kingdom as a result of a
referendum on its EU membership) and the impact of any sovereign
credit rating downgrade or other sovereign financial issues;
technological changes and risks to cyber security; pandemic,
natural and other disasters, adverse weather and similar
contingencies outside the Group's control; inadequate or failed
internal or external processes or systems; acts of war, other acts
of hostility, terrorist acts and responses to those acts,
geopolitical, pandemic or other such events; changes in laws,
regulations, accounting standards or taxation, including as a
result of further Scottish devolution; changes to regulatory
capital or liquidity requirements and similar contingencies outside
the Group's control; the policies, decisions and actions of
governmental or regulatory authorities in the United Kingdom, the
EU, the United States or elsewhere including the implementation of
key legislation and regulation; the ability to attract and retain
senior management and other employees; requirements or limitations
imposed on the Group as a result of HM Treasury's investment in the
Group; actions or omissions by the Group's directors, management or
employees including industrial action; changes to the Group's
post-retirement defined benefit scheme obligations; the provision
of banking operations services to TSB Banking Group plc; the extent
of any future impairment charges or write-downs caused by, but not
limited to, depressed asset valuations, market disruptions and
illiquid markets; the value and effectiveness of any credit
protection purchased by the Group; the inability to hedge certain
risks economically; the adequacy of loss reserves; the actions of
competitors, including non-bank financial services and lending
companies; and exposure to regulatory or competition scrutiny,
legal, regulatory or competition proceedings, investigations or
complaints. Please refer to the latest Annual Report on Form 20-F
filed with the SEC for a discussion of certain factors together
with examples of forward-looking statements. The forward-looking
statements contained in this announcement are made as of the date
of this announcement, and the Group expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements, except as required by
any applicable law or regulation.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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