11th Dec 2015 11:26
LONDON (Alliance News) - Standard Chartered PLC on Friday said 96.79% of the new shares on offer under its USD5.1 billion rights issue were taken up by shareholders, with no fewer than 25 of the bank's top directors and managers participating in the fundraising.
Standard Chartered revealed the capital raising on November 3, alongside further measures to bolster its financial strength and adjust its strategy in a move to improve returns.
Deputy Chairman Mike Rees bought more shares than any other director, acquiring GBP357,045 worth of stock. He was followed by Chief Executive Bill Winters, who acquired GBP304,286 of shares. Chairman John Peace bought GBP244,896 of shares, while Chief Financial Officer Andy Halford bought GBP145,540.
In total, the 26 directors bought 463,191 shares in the rights issue.
The Asia-focused lender said JP Morgan Cazenove and Bank of America Merrill Lynch - the investment banks working on the rights issue - have found buyers for the 23.4 million shares that weren't sold under the rights issue. Those shares were sold at 505.0 pence each, which was higher than the 465.0p pricing of the rights issue itself.
The full list of directors who bought shares under the rights issue is as follows:
| Directors Name | Ordinary shares acquired | % of issued share capital | Total shareholding | % of issued share capital |
| Sir John Peace | 52,666 | 0.00% | 236,999 | 0.01% |
| Bill Winters | 65,438 | 0.00% | 294,473 | 0.01% |
| Andy Halford | 31,299 | 0.00% | 140,849 | 0.00% |
| Mike Rees | 76,784 | 0.00% | 345,531 | 0.01% |
| Louis Cheung | 571 | 0.00% | 2,571 | 0.00% |
| Dr Han Seung-soo KBE | 772 | 0.00% | 3,474 | 0.00% |
| Byron Grote | 7,142 | 0.00% | 32,142 | 0.00% |
| Christine Hodgson | 571 | 0.00% | 2,571 | 0.00% |
| Gay Huey Evans | 571 | 0.00% | 2,571 | 0.00% |
| Naguib Kheraj | 571 | 0.00% | 2,571 | 0.00% |
| Simon Lowth | 3,267 | 0.00% | 14,797 | 0.00% |
| Ruth Markland | 1,246 | 0.00% | 5,610 | 0.00% |
| Paul Skinner CBE | 4,892 | 0.00% | 22,014 | 0.00% |
| Lars Thunell | 1,935 | 0.00% | 8,708 | 0.00% |
| Jasmine Whitbread | 571 | 0.00% | 2,571 | 0.00% |
| Tracy Clarke | 39,713 | 0.00% | 178,713 | 0.01% |
| Mark Dowie | 35,085 | 0.00% | 157,886 | 0.00% |
| Karen Fawcett | 21,618 | 0.00% | 97,285 | 0.00% |
| Michael Gorriz | 2,400 | 0.00% | 10,803 | 0.00% |
| Doris Honold | 13,090 | 0.00% | 58,905 | 0.00% |
| Ben Hung | 38,248 | 0.00% | 172,123 | 0.01% |
| Ajay Kanwal | 8,378 | 0.00% | 37,705 | 0.00% |
| Sunil Kaushal | 11,139 | 0.00% | 50,127 | 0.00% |
| Anna Marrs | 3,504 | 0.00% | 15,768 | 0.00% |
| Pam Walkden | 41,720 | 0.00% | 187,745 | 0.01% |
Shares in Standard Chartered were down 0.8% at 505.30p on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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