REG - CYBG PLC Clydesdale Bank PLC - Small Holding Sale Facility <Origin Href="QuoteRef">CYBGC.L</Origin>

AucyberAnnouncement

16/05/2017 07:16

RNS Number : 2098F
CYBG PLC
16 May 2017
CYBGPLC
(Company)
LEI:213800ZK9VGCYYR6O495
16 May2017
SMALL HOLDING SALE FACILITY
The Company istodayannouncingthe launchofasalefacility(Facility)for eligible shareholders.The Facility,which is being implementedin accordancewith the Company'sarticles ofassociation(Articles),iscommonlyknown in the Australianmarketasasale ofSmall Holdings.A"SmallHolding",asdefined in theArticles with referencetothedefinition in theAustralian Securities Exchange(ASX)listing rules,isa holdingofshareswith an aggregatemarketvalueoflessthanA$500 based on the closing price of a CDI on the ASX.
Inthisannouncement,the term'shares'referstofullypaid ordinaryshares in thecapitalof the Companyadmitted to trading onthe LondonStockExchange(LSE)(Shares)and/or CHESS DepositaryInterests(CDIs)(which representinterestsinsuch Shares)admittedtotradingontheASX,and 'shareholders'referstoholdersofSharesand/orCDIs.
The Facility provides eligible shareholders with an easy and cost-effective way to sell all of their shares while assisting with reducing the Company's ongoing costs associated with administering the security registers.
The Company isimplementingtheFacilityforalleligibleshareholderswho heldaSmall Holdingbased on the closingprice ofa CDI on theASX as at 6.00pm BST/ 7.00pm AEST on 9 May2017 (Record Date). Such eligible shareholderswill have the opportunityto optoutof the Facilityand retaintheirshares.Onlytheshares ofthose eligible shareholderswho continue to hold a Small Holding as at 7.30am BST/ 4.30pm AEST on28June 2017(ClosingDate),andwho have notopted outofthe Facility(in accordance with thetermsandconditionsoftheFacility)will be sold aspartoftheFacility.
UndertheFacility,eligible shareholdershave theopportunitytohave theirsharessold withoutincurring anybrokerage orhandlingcostsassociatedwith thesale.The Company will payall costsofthesaleforthoseeligible shareholderswhose shareswill be sold aspart ofthe Facility(althoughanytaxconsequencefromthe salewill be therelevantshareholder's responsibility).
Based onthe closingprice ofA$5.00fora CDIonthe ASXonthe RecordDate,aholdingof 99 shares orfewerin the Companyconstitutes a Small Holding.However,ifintheperiod up tothe Closing Date:(i) thevalue ofsucheligible shareholder'sshareshas increasedtoA$500ormore, whetherduetotheacquisitionoffurthersharesbytheeligible shareholderorbyvirtueofan increase in thevalue ofthesharesbasedontheclosing price ofa CDIonthe ASX on28 June 2017;or(ii)such shareholdersubmitsashareretention formin ordertooptoutofthe Facility which is dulyreceived atthepostaladdresssetoutin theformbythe Closing Date;or(iii)such shareholdersellstheirentire holding ofsharesbyothermeansby the Closing Date,such eligible shareholder'sshareswill notbe sold aspartof the Facility.
Atthe Record Datetherewere145,811eligible shareholdersrepresenting a totalholding of 5,468,896shares(0.62%ofthetotal issuedsharecapitalofthe Company).
Itisanticipatedthatshareholderswho do not take any action and as at the Closing Date continue to hold a Small Holding will have their shares sold as part of the Facility and will be sentpayment fortheirshares no later than 14 July2017.TheCompanyhassentacopyofeachofthe followingdocuments,asappropriate,to eligible shareholderstoday:
 the Chairman'sletter including Terms and Conditions of the Facility for Ordinary Shareholders;
 the Chairman'sletter including TermsandConditionsofthe Facilityfor CDI Holders;
 a shareretentionformfor use by holdersofShares; and
 a shareretentionformfor use byholdersofCDIs.
The information in thisannouncementshould beread in conjunction with the informationset outintherelevantdocumentsreferredtoabove.The Companyhassubmittedacopyof each ofthedocumentsabove to the National StorageMechanism,andthese will shortlybe available forinspectionat: http://www.morningstar.co.uk/uk/NSM.Ifeligibleshareholdersare in anydoubtastotheaction theyshouldtaketheyshould consult theirstockbroker,bank manager,solicitor,accountant,orotherprofessionalindependentadviser.
ThekeyFacilitydates are:
 Record Date: 6.00pm BST/ 7.00pm AEST 9May2017
 AnnouncementDate:16May2017
 Noticessentto holderswho,as at the RecordDate, helda Small Holding:16May 2017
 ClosingDate: 7.30am BST/ 4.30pm AEST 28 June 2017
 Sale ofSmall Holdings:No laterthan7July2017
TheCompanyreserves the righttochangeanyofthedatesreferredto in this announcement,orsuspend,cancelorvarythe Facilityatanytime,inwhich casethe Companywill release an announcementonthe LSE and theASX.
Enquiries:
Company Secretary
Lorna McMillan
+44 783 458 5436
lorna.mcmillan@cybg.com
Investors and Analysts
Owen Price
+44 748 490 8949
Investor Relations
owen.price@cybg.com
Hany Messieh
+61 414 446 876
Investor Relations (Australia)
hany.messieh@cybg.com
Media
Christina Kelly
+44 748 490 5358
Corporate Affairs
christina.kelly@cybg.com
CYBG Press Office
0800 066 5998 
press.office@cybg.com

This information is provided by RNS
The company news service from the London Stock Exchange
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