9th Oct 2015 06:13
LONDON (Alliance News) - The Royal Bank of Scotland Group PLC said Friday that it received a notice from the UK government to convert 51.00 billion series 1 B shares the Treasury holds into 5.10 billion new RBS ordinary shares.
Following this conversion, the UK government will hold 72.88% of the company's issued ordinary share capital. This will have no impact on RBS's retained earnings, the company said.
The Dividend Access Share owned by the UK government remains outstanding, RBS said.
The new ordinary shares will start trading October 14.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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