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11 Sep 2018 16:10
11 September 2018
Barclays PLC
Barclays Bank PLC
Barclays Bank UK PLC
Confirmation of Completion of Capital Reorganisations
On 22 February 2018 Barclays announced as part of its 2017 annual results its intention to carry out capital reorganisations to convert the share premium accounts of each of Barclays PLC, Barclays Bank PLC and Barclays Bank UK PLC into distributable reserves of each respective company. This has been undertaken through a court-approved reduction of capital by each of Barclays PLC, Barclays Bank PLC and Barclays Bank UK PLC (each a "Capital Reduction", and together the "Capital Reductions").
Each of the Capital Reductions was approved by the relevant company's shareholders as a special resolution at, in the case of Barclays PLC, the annual general meeting on 1 May 2018 and, in the case of Barclays Bank PLC and Barclays Bank UK PLC, general meetings on 18 July 2018 and 17 July 2018, respectively.
On 11 September 2018 the Capital Reductions became effective following the confirmations of the High Court of Justice in England and Wales being obtained on 11 September 2018 and the registration of each court order with the Registrar of Companies on the same day.
As a result of the Capital Reductions, the share premium accounts of each of Barclays PLC, Barclays Bank PLC and Barclays Bank UK PLC (approximately £17,873m, £12,092m and £13,044m, respectively) have been cancelled, with the balances credited to the retained earnings of each company, respectively. The Capital Reductions have no impact on the amount of shareholders' equity or the regulatory capital positions of any of the companies.
-ENDS-
For further information, please contact:
Investor Relations | Media Relations |
Lisa Bartrip | Tom Hoskin |
+44 (0) 20 7773 0708 | +44 (0) 20 7116 4755 |
About Barclays
Barclays is a transatlantic consumer and wholesale bank, offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 80,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
For further information about Barclays, please visit our website home.barclays
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