Business
Proposed sale by Arbuthnot of ordinary shares
Proposed sale by Arbuthnot of ordinary shares.
About this update from Secure Trust Bank Plc
[{"type":"text","content":"\n \nRNS Number : 4791Z Secure Trust Bank 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\nSecure Trust Bank PLC (\"Secure Trust\" or the \"Company\")\nProposed sale by Arbuthnot Banking Group PLC (\"Arbuthnot\") of ordinary shares in Secure Trust \nThe Board of Secure Trust notes the announcement today from, and has been informed by, Arbuthnot that it is intending to sell approximately 5.8 million ordinary shares of 40 pence each in Secure Trust (the \"Sale Shares\") such amount to potentially increase subject to additional demand being secured, representing approximately 31.9 per cent. of Secure Trust's existing issued share capital by way of a secondary placing to institutional investors only (the \"Sale\"). The Sale is expected to be 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...