Royal Bank of Scotland Group PLC Redemption of Non-cumulative Preference Shares (2041N)
05 August 2017 - 1:48AM
UK Regulatory
TIDMRBS
RNS Number : 2041N
Royal Bank of Scotland Group PLC
04 August 2017
THE ROYAL BANK OF SCOTLAND GROUP PLC
Redemption of Non-Cumulative Sterling Preference Shares
4 August 2017
The Royal Bank of Scotland Group plc ("RBSG") has given notice
to holders of the redemption on 3 December 2017 (the "Sterling
Preference Shares Redemption Date"), in whole, of the
Non-cumulative Sterling Preference Shares Series 1 (ADS ISIN:
XS0121856859), amount outstanding GBP14,866,000.00 (the "Sterling
Preference Shares"), at the redemption price of GBP1,000.00 per
Sterling Preference Share, plus accrued dividends for the current
dividend period to, and including, the Sterling Preference Shares
Redemption Date, which dividend shall equal GBP68.329750 per
Sterling Preference Share. The Sterling Preference Shares will
cease to accrue dividends and shall be cancelled and all unmatured
dividend coupons shall become void for any purpose, as from the
Sterling Preference Shares Redemption Date.
An application will be made to the U.K. Financial Conduct
Authority, in its capacity as the U.K. Listing Authority, to cancel
the listings of the Sterling Preference Shares on the Official List
of the U.K. Listing Authority. An application will also be made to
the London Stock Exchange for the cancellation of the trading in
the Sterling Preference Shares on the London Stock Exchange's main
market for listed securities.
Payment of redemption monies will be made through Euroclear Bank
SA/NV and Clearstream Banking, société anonyme, in accordance with
their standard procedures.
The redemption amount with respect to the Sterling Preference
Shares shall be paid out of distributable reserves of RBSG.
Approximately GBP15 million of the Sterling Preference Shares are
expected to be redeemed, reducing RBSG's retained earnings and
distributable items by approximately GBP15 million.
The Royal Bank of Scotland Group plc:
RBS Investor Relations
Matthew Richardson
Head of Debt Investor Relations
Tel: +44 (0) 20 7678 1800
This announcement contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, without limitation, statements that include the words
"intends", "expects", "anticipates", "targets", "plans",
"estimates" and words of similar import. These statements concern
or may affect future matters, such as RBS's future economic
results, business plans and 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 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 UK 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 US
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 of this document 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.
MAR
This announcement contains information that qualified or may
have qualified as inside information for the purposes of Article 7
of the Market Abuse Regulation (EU) 596/2014 (MAR). For the
purposes of MAR and Article 2 of Commission Implementing Regulation
(EU) 2016/1055, this announcement is made by Matthew Richardson,
Head of Debt Investor Relations for The Royal Bank of Scotland
Group.
Legal Entity Identifier: 2138005O9XJIJN4JPN90
This information is provided by RNS
The company news service from the London Stock Exchange
END
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