24th Oct 2005 15:58
Royal Bank of Scotland Group PLC24 October 2005 THE ROYAL BANK OF SCOTLAND GROUP PLANS US DOLLAR PREFERENCE SHARE ISSUE 24th of October 2005 The Royal Bank of Scotland Group plc ("the Group") is pleased to announce thatit intends to issue Category II Non-cumulative Dollar Preference Shares to bedesignated Series P ("the Series P Dollar Preference Shares"), which will beissued in the form of American Depositary Receipts ("the Series P ADRs") in theUnited States, at a subscription price of US$25.00 per share. The Series P Preference Shares will be issued under a Form F-3 ShelfRegistration Statement which the Group has filed with the Securities andExchange Commission, Washington, D.C. and which provides for the offer and salefrom time to time of, among other things the Group's dollar preference shares. Application will be made to list the Series P ADRs on the New York StockExchange. The FSA has confirmed that the Series P Preference Shares will qualifyas Tier One capital. The Group is being advised in connection with the issue by Citigroup GlobalMarkets Inc and RBS Greenwich Capital, who are also acting with Merrill Lynch &Co, Morgan Stanley, UBS Securities LLC, and Wachovia Securities as managers. The proceeds of the issue of the Series P Preference Shares will be used tofurther strengthen the Group's capital base and for general corporate purposes. This announcement shall not constitute an offer to sell or the solicitation ofan offer to buy, nor shall there be any sale of the Series P Preference Sharesin any State of the US in which such offer, solicitation or sale would beunlawful prior to the registration or qualification under the Securities Laws ofany such State. Further, no Series P Preference Shares will be offered to thepublic in the UK. For further information, please contact; The Royal Bank of Scotland Group plc Fred Watt Ron Huggett Executive House G Capital Raising Director RBS Gogarburn 280 Bishopsgate PO Box 1000 London Edinburgh EC2M 4RB EH12 1HQ Tel: 020 7085 4925 Tel: 0131 523 2028 Citigroup Alan Patterson Managing Director Citigroup Global Markets Limited Citigroup Centre 33 Canada Square Canary Wharf London E14 5LB Tel: 020 7986 8990 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RBS.L