Reduction of shareholding in BAGL

RNS Number : 0664Y

Barclays PLC

01 December 2017

 

1 December 2017

Barclays PLC

Reduction of Barclays' shareholding in Barclays Africa Group Limited

Following the transfer on 30 November 2017, subject to settlement, of a 7.0% stake in Barclays Africa Group Limited (BAGL), Barclays' total shareholding in BAGL for regulatory reporting purposes will reduce from 21.9% to 14.9%, in line with previously announced expectations. Settlement of the transfer is expected to occur on 5 December 2017. From an accounting perspective, Barclays' results already reflected the 14.9% ownership level.

For regulatory reporting purposes, Barclays currently applies proportional consolidation with respect to its stake in BAGL. The reduction in Barclays' holding announced today will reduce the percentage applied to 14.9%, and would increase Barclays' pro-forma CET1 ratio as at 30 September by 12bps.  

Barclays has indicated that this represents its desired long term shareholding in Barclays Africa and that no further sales are planned at this time.

-ENDS-

For further information please contact:

Investor Relations	Media Relations
Kathryn McLeland	Tom Hoskin
[phone]	[phone]

About Barclays

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs 85,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com 

Information regarding forward-looking statements

This announcement contains forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to the Barclays Group. These statements are based on the current beliefs and expectations of Barclays' management and are subject to significant risks and uncertainties. Actual outcomes may differ materially from those expressed in the forward-looking statements. Factors that could impact Barclays' future financial condition and performance are identified in our filings with the Securities and Exchange Commission ("SEC") (including, without limitation, our Annual Report on Form 20-F for the fiscal year ended 31 December 2016) which are available on the SEC's website (www.sec.gov). Subject to Barclays' obligations under the applicable laws and regulations of the United Kingdom and the United States in relation to disclosure and ongoing information, Barclays does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

 

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