Business
Conditional sale of shares in Secure Trust Bank
Conditional sale of shares in Secure Trust Bank.
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n \nRNS Number : 5968Z Arbuthnot Banking Group PLC 27 May 2016 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.\nFURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF SECURE TRUST BANK PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.\nThis announcement should be read in its entirety. \n 27 May 2016\nArbuthnot Banking Group PLC (\"Arbuthnot\" or the \"Company\")\nConditional sale of ordinary shares in Secure Trust Bank PLC (\"Secure Trust\")\nFurther to its recent announcement, Arbuthnot today announces the conditional sale of 6,000,000 ordinary shares of 40 pence each in Secure Trust (the \"Sale Shares\"), representing 33.0 per cent. of Secure Trust's existing issued share capital, by way of a secondary placing to institutional investors only (the \"Sale\"). The Sale was priced at £25 per Sale Share (the \"Sale Shares Price\") which represents a 10.7 per cent. discount to the closing price of Secure Trust's ordinary shares (the \"Ordinary Shares\") as of 26 May 2016. \nAssuming completion of the Sale, the Company's interest in Secure Trust will reduce from 51.9 per cent. to 1...