Royal Bank Of Scotland Share Discussion Threads

[skinny] 04/8/2015 07:03

Further to its announcement on 3 August 2015, UKFI announces the successful completion of the disposal of part of HM Treasury's shareholding in The Royal Bank of Scotland Group plc (the "Company"). The disposal was effected by way of a Placing (the "Placing") of ordinary shares (the "Placing Shares") by way of an accelerated bookbuilding process to institutional investors.

In summary, following settlement of the Placing which will take place on 6 August 2015:

● The shareholding of HM Treasury will be reduced from 3,964,483,519 ordinary shares, representing approximately 61.3% of the ordinary share capital of the Company, to 3,334,483,519 ordinary shares, representing approximately 51.5% of the ordinary share capital.

● Accordingly, the overall size of HM Treasury's economic interest in the capital of the Company (which includes its holding of ordinary shares and B shares in the Company) will be reduced from approximately 78.3% to approximately 72.9%.

● The Placing Price was 330 pence per Placing Share. As a result, the proceeds from the sale of the Placing Shares will be £2,079,000,000.

● Citigroup Global Markets Limited, Goldman Sachs International, Morgan Stanley & Co. International plc and UBS Limited acted as Bookrunners in connection with the Placing.

● UKFI and HM Treasury have undertaken to the Bookrunners not to sell further shares in the Company for a period of 90 calendar days following the completion of the Placing without the prior written consent of a majority (by participation) of the Bookrunners.

● N M Rothschild & Sons Limited acted as Capital Markets Adviser. Freshfields Bruckhaus Deringer LLP acted as legal counsel to UKFI in respect of English and US law.

[smurfy2001] 03/8/2015 22:19

Government average is 502, so plenty of upside potential here in future.

[smurfy2001] 03/8/2015 22:04

RBS in overnight placing at 330p-a-share. Sources said that there was much higher demand for the shares than expected and the book was covered within two hours of pulling the trigger on the placing.



I'll be adding on weakness in the morning if we hit below 330p.

[lance corporal winstanley ash] 03/8/2015 21:51

CFC. Good thing this sell off will create some liquidity for trading RBS. great news.

[cfc1] 03/8/2015 21:22

sure the share price will go down but the market will turn as they did with Lloyds as RBS gradually returns to private....BEST think that can happen to the bank - to be a bank again not a gov't department!
we need the litigation and none stop fines to stop- similar to BP!
Get both of those out of the way and the share price flys..might take time but long term this is a screaming buy and tuck away

[leedskier] 03/8/2015 19:01

By the looks of it he changed his mind.

[leedskier] 03/8/2015 19:01

Oil is being crushed. No doubt big oil companies are being hammered too.

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Hayes was either badly advised or ignored good advice, by changing his mind ...

"After his arrest by the U.K. Serious Fraud Office in 2012, Hayes had a deal with the agency to plead guilty. During 82 hours of interviews, he told the SFO he’d “made concerted efforts to influence Libor” and was a “serial offender.”

Within a year he’d backtracked, changed lawyers, and entered a plea of not guilty."

[shaws67] 03/8/2015 18:31

What's happened to the DOW, backside has fallen out of it.

[smurfy2001] 03/8/2015 17:41

Looks at Lloyds, trading well in excess of NAV nowadays. If they continued selling around these prices it'd be a horrific loss for the tax payer not going to happen.

[petesnow] 03/8/2015 17:41

At this price does this not mean RBS is going to be kept low by the market makers so that they can make sure the government keep selling at low prices. If so this share is surely going nowhere for years?

[smurfy2001] 03/8/2015 17:35

Placing to be priced at between 325p and 330p, representing a modest discount to the bank's share price.

Source: Sky News

[smurfy2001] 03/8/2015 17:27

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT

3 August 2015

UK Financial Investments Limited ("UKFI")

Intention to dispose of approximately 5.2% of The Royal Bank of Scotland Group plc

UKFI announces that it intends to sell part of HM Treasury's shareholding in The Royal Bank of Scotland Group plc (the "Company"). The disposal of these shares (the "Placing Shares") will be by way of a placing to institutional investors (the "Placing").

The price at which the Placing Shares are sold (the "Placing Price") will be determined by way of an accelerated bookbuilding process. The book will open with immediate effect following this announcement.

The Placing is expected to comprise of approximately 600m of the Company's ordinary shares, representing approximately 5.2% of the economic ownership of the Company. As a result of the Placing, the overall size of HM Treasury's economic interest in the capital of the Company (which includes its holding of ordinary shares and B shares in the Company) will be reduced from approximately 78.3% to approximately 73.2% and its holding of ordinary shares in the Company will be reduced from approximately 61.3% to approximately 52.0%.

UKFI and HM Treasury have undertaken to the Bookrunners named below not to sell further shares in the Company for a period of 90 calendar days following the completion of the Placing without the prior written consent of a majority (by participation) of the Bookrunners.

Citigroup Global Markets Limited, Goldman Sachs International, Morgan Stanley & Co. International plc and UBS Limited have been appointed to act as Bookrunners in connection with the Placing.

N M Rothschild & Sons Limited is acting as Capital Markets Adviser. Freshfields Bruckhaus Deringer LLP is acting as legal counsel to UKFI in respect of English and US law.

Details of the Placing Price and the number of Placing Shares will be announced in due course.

Contacts:

UKFI communications: Daniel Yea [phone]; [phone]

The distribution of this announcement and the offer and sale of the Placing Shares in certain jurisdictions may be restricted by law. The Placing Shares may not be offered to the public in any jurisdiction in circumstances which would require the preparation or registration of any prospectus or offering document relating to the Placing Shares in such jurisdiction. No action has been taken by the seller or any of the Bookrunners or any of their respective affiliates that would permit an offering of the Placing Shares or possession or distribution of this announcement or any other offering or publicity material relating to such securities in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

This press release is for information purposes only and does not constitute or form a part of an offer to sell or a solicitation of an offer to purchase any security of the Company in the United States or in any other jurisdiction where such offer or solicitation is unlawful. The securities of the Company described in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any applicable state or foreign securities laws and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. There shall be no public offering of securities in the United States.

Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or indirectly in or into the United States, Canada, Australia, Japan or any other state or jurisdiction in which such action would be unlawful. Any failure to comply with this restriction may constitute a violation of United States, Canadian, Australian, Japanese or other applicable securities laws.

In member states of the European Economic Area ("EEA") which have implemented the Prospectus Directive (each, a "Relevant Member State"), this announcement and any offer if made subsequently is directed exclusively at persons who are 'qualified investors' within the meaning of the Prospectus Directive ("Qualified Investors"). For these purposes, the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in a Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression "2010 PD Amending Directive" means Directive 2010/73/EU. In the United Kingdom this announcement is directed exclusively at Qualified Investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) who fall within Article 49(2)(a) to (d) of the Order, and (iii) to whom it may otherwise lawfully be communicated.

In connection with any offering of the Placing Shares, the Bookrunners and any of their respective affiliates acting as an investor for their own account may take up as a proprietary position any Placing Shares and in that capacity may retain, purchase or sell for their own account such Placing Shares. In addition they may enter into financing arrangements and swaps with investors in connection with which they may from time to time acquire, hold or dispose of Placing Shares. They do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligation to do so.

Citigroup Global Markets Limited, Goldman Sachs International, Morgan Stanley & Co. International plc and UBS Limited] (the "Bookrunners") and N M Rothschild & Sons Limited ("Rothschild"), each of which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, , are acting on behalf of HM Treasury and UKFI (in the case of the Bookrunners) and UKFI (in the case of Rothschild) and no one else in connection with any offering of the Placing Shares and will not be responsible to any other person for providing the protections afforded to any of their respective clients or for providing advice to any other person in relation to any offering of the Placing Shares. None of the Bookrunners nor Rothschild will regard any other person as its client in relation to the offering of the Placing Shares. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by any of the Bookrunners, Rothschild or by any of their respective affiliates or agents as to or in relation to, the accuracy, completeness or sufficiency of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers in connection with HM Treasury, UKFI, the Company, the Placing Shares, the Placing or any of arrangements described herein, and any liability therefor is expressly disclaimed.

No Placing Shares will be available to any investor whose purchase of such Placing Shares, whether on its own account or as a fiduciary or agent for one or more investor accounts, would require regulatory consent in any jurisdiction (including, without limitation, under the UK Financial Services and Markets Act 2000 or the United States Bank Holding Company Act of 1956).

[avatar333] 03/8/2015 16:19

Good Lord!

[smurfy2001] 03/8/2015 16:19

Good news that, need to throw more bankers in Jail. Hopefully he will get a good fisting for robbing the public.

[avatar333] 03/8/2015 16:19

'They' are minus one.

;

[leedskier] 03/8/2015 16:16

That will wake the City up.

[leedskier] 03/8/2015 16:15

Hayes sentenced to 14 years imprisonment.

[ramco] 03/8/2015 14:16

There speaks a younger (relatively amongst this group;) voice of reason..good man smurfy....;

[smurfy2001] 03/8/2015 12:45

If it follows the pattern of Lloyds yeah but Lloyds are paying a dividend so let's see. May even see opportunities to buy much cheaper if the gov start offloading soon.

[aspers] 03/8/2015 10:50

Anything below 340 looked a good buying in point to me. I think we will see this back at 380 before not too long?

[smurfy2001] 03/8/2015 10:05

Government may begin RBS sale from Monday

2 August 2015

The Treasury could begin the process of selling part of the government's stake in Royal Bank of Scotland from Monday, according to BBC sources.

UK Financial Investments, through which the Treasury owns its four-fifths holding in RBS, may sell a stake worth billions of pounds, should there be enough appetite among City investors.

The move is tentative, and could be set back a month or more.

The Treasury and RBS declined to comment.

The first task would be choosing investment banks to manage the sale. The coming week is seen as a good time to attempt a sale before holidays start in earnest among investors.

Should there be too little interest, a sale could be attempted again from September, the BBC understands.

Chancellor George Osborne announced in June his plan to sell the bank back to private investors.

The government provided RBS with a £45.5bn bailout in 2008.

The government paid about 500p a share for the bank, compared with the current price of about 342p.

RBS reported a half-year loss of £153m last week after setting aside more money for repaying customers and potential legal settlements.

But the bank's net profit rose to £293m for the three months to the end of June.

[leedskier] 03/8/2015 09:44

Greece's stock market plunged nearly 23 percent on Monday when it opened after a five-week shutdown brought on by fears the country was about to be dumped from the euro zone.

[leedskier] 03/8/2015 09:39

GBP Manufacturing PMI 51.9

[leedskier] 03/8/2015 09:15

Good Morning ;