Business
Result of sale of ordinary shares in Secure Trust
Result of sale of ordinary shares in Secure Trust.
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n \nRNS Number : 9786V Arbuthnot Banking Group PLC 12 April 2019 \n\nNOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES IN ANY JURISDICTION, INCLUDING AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR THE UNITED STATES.\n \nARBUTHNOT BANKING GROUP PLC \nResult of Secondary Placing of holding in Secure Trust Bank PLC (\"Secure Trust\")\nArbuthnot Banking Group PLC (\"Arbuthnot\" or \"the Group\") is pleased to confirm that further to the announcement released yesterday, it has sold in an institutional placing 1,050,000 ordinary shares of 40 pence each (\"Sale Shares\"), held by its subsidiary Arbuthnot Latham & Co., Limited, in the capital of Secure Trust at a price of 1460 pence per share (the \"Sale\") raising gross proceeds of approximately £15.3m. \nFollowing the completion of the Sale, the Group will be interested in 1,819,538 ordinary shares of 40 pence each in the capital of Secure Trust, representing 9.85 per cent of Secure Trust's issued share capital. As a result of this Sale and its reduced holding, there will be a reduction of approximately £0.8 million in dividend income for the Group (based on the full year dividend paid by Secure Trust in the year ended 31 December 2018). \nThe Sale is being managed by Shore Capital Stockbrokers Limited, acting as sole bookrunner (the \"Bookrunner\") in relation to the Sale. \nArbuthnot has agreed that, following completion of the Sale, it will not, subject to customary exceptions, dispose of ordinary shares in Secure Trust for a period of 180 days.\nFor further information contact:\n\n\n\n\nENQUIRIES:\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nArbuthnot Banking Group\n\n\n0207 012 2400\n\n\n\n\nSir Henry Angest, Chairman and Chief Executive\n\n\n \n\n\n\n\nAndrew Salmon, Group Chief Operating Officer\n\n\n \n\n\n\n\nJames Cobb, Group Finance Director\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nShore Capital (Bookrunner)\...