Register
Login:
Share:
Email Facebook Twitter


Ariana forecast 47% rise in Kiziltepe gold production


RBS Regulatory News (RBS)



Regulatory News for RBS (RBS)


Share Price: 275.60Bid: 275.30Ask: 275.50Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.20Spread as %: 0.07%Open: 277.10High: 277.30Low: 274.60Yesterday’s Close: 275.60





Disposal of shareholdings in Euroclear plc

Tue, 24th Oct 2017 17:37

RNS Number : 5129U
Royal Bank of Scotland Group PLC
24 October 2017
 

Royal Bank of Scotland Group PLC

24 October 2017

 

Disposal of shareholdings in Euroclear plc

 

The Royal Bank of Scotland Group plc ("RBS") announces that its subsidiaries have today entered into an agreement to dispose of RBS' entire shareholdings in Euroclear plc to IntercontinentalExchange Holdings. 

 

The transaction, which was also completed today, involved the sale of 148,349 ordinary shares in Euroclear plc for a total cash consideration of €275 million (approximately £245 million at current exchange rates)*.  KPMG Corporate Finance acted as financial advisers to RBS and Simmons & Simmons acted as legal advisers to RBS on this transaction.

 

The sale proceeds will be used for general corporate purposes.

The transaction is part of the continued reduction of assets in RBS and is in line with the bank's plan to strengthen its capital position.

The carrying value of the shareholding in Euroclear plc as at 30 June 2017 was approximately £88 million, which represents RWA equivalent of around £220 million.  The transaction is expected to generate a gain of approximately £175 million after associated costs, reserves recycling and before tax, which will be recognised as a gain on strategic disposal in Q4 2017.

 

For further information, please contact:

RBS Investor Relations
Matt Waymark
Head of Investor Relations
Tel: +44 (0) 20 7672 1758

 * Under the terms of the sale agreement, additional consideration may become payable in certain circumstances if the purchaser either resells Euroclear plc shares acquired pursuant to this transaction or acquires further shares in Euroclear plc, in each case at or above certain agreed pricing thresholds within a specified period following completion.

FORWARD LOOKING STATEMENTS

This announcement contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including (but not limited to) those with respect to RBS and its subsidiaries' regulatory capital position, financial position, risk-weighted assets, profitability and financial performance and the implementation of RBS's transformation programme under certain specified scenarios. In addition, forward-looking statements may include, without limitation, statements containing words such as "intends", "believes", "expects", "anticipates", "targets", "plans", "will" and similar expressions or variations on these expressions. These statements concern or may affect future matters, such as RBS's future economic results, business and capital plans and ability to achieve current strategies. Forward-looking statements are subject to a number of risks and uncertainties that might cause actual results and performance to differ materially from any expected future results or performance expressed in, or implied by, the forward-looking statements. Factors that could cause or contribute to differences in current expectations include, but are not limited to, legislative, political, fiscal and regulatory developments, accounting standards, competitive conditions, technological developments, interest and exchange rate fluctuations and general economic conditions. These and other factors, risks and uncertainties that may impact any forward-looking statement or RBS's actual results are discussed in RBS's 2016 Annual Report and Accounts (ARA) and its interim results for the six-months ended 30 June 2017 and materials filed with, or furnished to, the United States Securities and Exchange Commission, including, but not limited to, RBS's most recent Annual Report on Form 20-F and Reports on Form 6-K. The forward-looking statements contained in this announcement speak only as of the date they are made or revised and RBS does not assume or undertake any obligation or responsibility to update any of the forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise, except to the extent legally required.

Legal Entity Identifier: 2138005O9XJIJN4JPN90, RR3QWICWWIPCS8A4S074


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISMIBFTMBTTBFR






DateSourceHeadlineCategory
20-Apr-18 16:35RNSDividend DeclarationDividends
17-Apr-18 18:07RNSAllotment and Issue of New Ordinary SharesCompany Announcement - General
17-Apr-18 13:24RNSMoU with Pension Trustee on ring-fencing alignmentCompany Announcement - General
13-Apr-18 11:32RNSBlock listing Interim ReviewCompany Announcement - General
05-Apr-18 12:00RNSUpdate on ring-fencing plansCompany Announcement - General
05-Apr-18 07:00RNSRBS notes credit ratings action by Moody'sCompany Announcement - General
03-Apr-18 07:00RNSFILING OF ANNUAL REPORT ON FORM 20-F WITH US SECCompany Announcement - General
29-Mar-18 13:19RNSDirector/PDMR ShareholdingDirectors' Dealings
26-Mar-18 15:18RNSAdditional ListingCompany Announcement - General
23-Mar-18 17:09RNSPublication of Suppl.ProspctsCompany Announcement - General
22-Mar-18 15:21RNSUpdate on ring fencing plansCompany Announcement - General
20-Mar-18 08:00RNSMorgan Stanley European Financials ConferenceCompany Announcement - General
16-Mar-18 14:37RNSPublication of Final TermsCompany Announcement - General
08-Mar-18 16:02RNSDirector/PDMR ShareholdingDirectors' Dealings
01-Mar-18 18:10RNSDividend DeclarationDividends
01-Mar-18 15:10RNSDirector/PDMR ShareholdingDirectors' Dealings
28-Feb-18 18:27RNSPublication of Final TermsCompany Announcement - General
28-Feb-18 18:20RNSTotal Voting RightsHolding(s) in Company
28-Feb-18 13:37RNSAdditional ListingCompany Announcement - General
23-Feb-18 15:30RNSPublication of Suppl.ProspctsCompany Announcement - General
23-Feb-18 07:02RNSDirectorate ChangeExecutive Changes
23-Feb-18 07:01RNSAnnual Financial ReportResults and Trading Reports
23-Feb-18 07:00RNSFinal ResultsResults and Trading Reports
31-Jan-18 17:12RNSTotal Voting RightsHolding(s) in Company
29-Jan-18 14:27RNSDirector/PDMR ShareholdingDirectors' Dealings
03-Jan-18 17:05RNSPublication of Suppl.ProspctsCompany Announcement - General
29-Dec-17 13:20RNSDirector/PDMR ShareholdingDirectors' Dealings
29-Dec-17 13:20RNSTotal Voting RightsHolding(s) in Company
21-Dec-17 10:14RNSSegmental Reporting Restatement DocumentCompany Announcement - General
21-Dec-17 09:00RNSDirectorate ChangeExecutive Changes


Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk






Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.