Royal Bank of Scotland Group PLC Allotment and Issue of New Ordinary Shares (3577K)
April 15 2015 - 11:56AM
UK Regulatory
TIDMRBS
RNS Number : 3577K
Royal Bank of Scotland Group PLC
15 April 2015
15 April 2015
Allotment and Issue of New Ordinary Shares
The Royal Bank of Scotland Group plc (the "Company") announces
the allotment and issue of 21,302,600 new ordinary shares (the "New
Ordinary Shares") of the Company at a subscription price of
352.0697 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 Full
Year 2014 Results on 26 February 2015. The shares being issued are
for the purposes of partly neutralising the impact of 2015 coupon
payments on discretionary hybrid capital from a Core Tier 1 capital
perspective, as explained in the Company's Full Year 2014
Results.
Based on this subscription price, the gross proceeds of the
issue are GBP75 million. The New Ordinary Shares being issued
represent an increase of approximately 0.3 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 21 April 2015.
For Further Information Contact:
RBS Group Investor Relations
Richard O'Connor
Head of Investor Relations
+44 20 7672 1758
RBS Group 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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