HM Treasury

Statement re - Lloyds

RNS Number : 1827B
HM Treasury
05 October 2015
 

Title for the RNS: Government announces next steps on Lloyds retail sale

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT

This announcement is an advertisement and not a prospectus.  Please note that you should make any investment decision in relation to the purchase of any securities referred to in this advertisement based on the information in the prospectus to be published by Lloyds Banking Group plc.  Copies of any such prospectus will, following publication, be available from www.gov.uk/lloydsshares.

Government announces next steps on Lloyds retail sale

HM Treasury announces today that a retail sale of Lloyds Banking Group shares will be launched next spring, with applications available online and by post.  

It is the government's intention to fully exit from its Lloyds shareholding in the coming months, and as part of this at least £2bn of shares will be sold to retail investors.  Members of the public will be offered a discount of 5% of the market price, with a bonus share for every 10 shares for those who hold their investment for more than a year.  The value of the bonus share incentive will be capped at £200 per investor.  People applying for investments of less than £1,000 will be prioritised.

All proceeds from share sales are used to pay down the national debt.

Military personnel and their spouses stationed overseas will be able to participate in the sale, where possible.  This is in line with the government's armed forces covenant, which ensures that members of the armed forces should not face disadvantage in the provision of public services.

HM Treasury has also launched a dedicated campaign webpage for potential investors, where members of the public can pre-register and receive email updates about the sale.  This can be found at www.gov.uk/lloydsshares.

As always, share sales are dependent on market conditions. 

 

Legal disclaimer:

The contents of this advertisement, which have been prepared by and are the sole responsibility of HM Treasury, have been approved by Goldman Sachs International ("GSI") solely for the purposes of section 21(2)(b) of the FSMA. GSI, whose registered office is Peterborough Court, 133 Fleet Street, London EC4A 2BB, is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority.  No reliance may be placed on GSI for advice or recommendations with respect to the contents of this advertisement and, to the extent it may do so under applicable law, GSI makes no representation or warranty to the persons viewing this advertisement with regards to the information contained herein.

This advertisement does not constitute an offer, invitation or recommendation concerning the securities referred to in this advertisement.  The securities have not been and will not be registered under the US Securities Act of 1933 or any applicable state or foreign securities laws and may not be offered or sold in the United States of America absent registration or an exemption therefrom. 

The price and value of securities can go down as well as up, and so you could get back less than you invested.  Past performance is not a guide to future performance.  Information in this advertisement cannot be relied upon as a guide to future performance.  Before purchasing any securities referred to in this advertisement, persons viewing this advertisement should make sure that they fully understand and accept the risks which are to be set out in the prospectus referred to above.  Potential investors should consult an independent financial adviser as to the suitability of the securities referred to in this advertisement to the person concerned.

 


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