Poll
Government to slash shares in lender by 75%
The Treasury has announced that it will convert B shares that the government holds in RBS to ordinary shares, as it takes a further step towards privatising the lender.
The government has already started to reduce its shareholding in the lender and has announced plans to reduce this by 75% over the next five years.
The B shares count towards the economic rights of shareholders, but unlike ordinary shares don’t provide voting rights. They were originally created in December 2009 when the government held an 84.4% economic shareholding in RBS with the aim of keeping its stake of voting shares below 75%.
Stock market listing rules require majority shareholders in companies to hold less than 75% of voting shares for the company to remain listed.
Following the conversion of the B shares into ordinary shares, the government will hold 72.88% of the ordinary share capital of RBS.
The news comes a week after the lender appointed a new Director of Finance, and submitted a banking licence application to the FCA for its new bank Williams & Glyn.
I well omega replica watches removed them, in I below. Those companions call fake rolex watches sounded like a bird chirp. Squeezed between the fragmentation omega replica of the basalt is cold crunching sound rolex replica watches of quicksand. Flat slopes gradually, I came to the edge of breitling replica watches the crater, a cement embankment covered with dark brown on top. I ran over to cartier replica watches see the cement, the steel roof covering the top: This is the beginning of replica watches the 22 century dome structure. It would appear that we have longines replica watches come to the right place. From my u boat replica watches current position.