Royal Bank of Scotland Group PLC Allotment and Issue of New Ordinary Shares (1899Z)
May 24 2016 - 12:56PM
UK Regulatory
TIDMRBS
RNS Number : 1899Z
Royal Bank of Scotland Group PLC
24 May 2016
24 May 2016
Allotment and Issue of New Ordinary Shares
The Royal Bank of Scotland Group plc (the "Company") announces
the allotment and issue of 38,516,124 new ordinary shares (the "New
Ordinary Shares") of the Company at a subscription price of
220.6868 pence per New Ordinary Share. The shares have been sold in
the market. The subscription price was determined by reference to
the average market price during a period since the Company's first
quarter 2016 results on 29 April 2016.
The shares being issued are for the purposes of partly
neutralising the impact of 2016 coupon payments on discretionary
hybrid capital from a Core Tier 1 capital perspective, as explained
in the Company's Full Year 2015 results announcements.
Based on this subscription price, the gross proceeds of the
issue are GBP85 million. The New Ordinary Shares being issued
represent an increase of approximately 0.33% per cent in the
Company's current issued ordinary shares. The New Ordinary Shares
will, when issued, be credited as fully paid and rank pari passu in
all respects with the existing ordinary shares of the Company.
Applications will be made for admission of the New Ordinary
Shares to the premium listing segment of the Official List of the
UK Listing Authority and to trading (together "Admission") on (i)
the main market of the London Stock Exchange and (ii) the New York
Stock Exchange ("the NYSE"). American Depositary Shares ("ADS")
will also be listed with the NYSE in addition to the New Ordinary
Shares underlying the ADSs. It is expected that Admission will take
place at 8.00 a.m. on 31 May 2016.
For Further Information Contact:
RBS Investor Relations
Matthew Richardson
Head of Fixed Income Investor Relations
+44 20 7678 1800
RBS Media Relations
+44 131 523 4205
This information is provided by RNS
The company news service from the London Stock Exchange
END
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