REG - HSBC Holdings PLC - UPDATE ON SALE OF HSBC CANADA

HSBC HoldingsAnnouncement

22/12/2023 07:00

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RNS Number : 6988X  HSBC Holdings PLC  22 December 2023

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the whole or any part of the contents of this announcement.

 

Hong Kong Stock Code: 5

 

22 December 2023

 

HSBC HOLDINGS PLC

UPDATE ON SALE OF HSBC CANADA

On 29 November 2022, HSBC Holdings plc ('HSBC') announced the sale of its
business in Canada ('HSBC Canada') to Royal Bank of Canada ('RBC'), subject to
regulatory and governmental approvals. On 21 December 2023 the Canadian
Federal Government's Minister of Finance approved the sale, with this approval
enabling the transaction to proceed.

 

HSBC and RBC continue to make progress on implementation and the transaction
is expected to close in the first quarter of 2024.  HSBC remains committed to
considering the payment of a special dividend of $0.21 per share as a priority
use of the proceeds from this sale in the first half of 2024.

 

Miscellaneous

 

The Board of Directors of HSBC Holdings plc as at the date of this
announcement comprises: Mark Tucker*, Noel Quinn, Geraldine Buckingham†,
Rachel Duan†, Georges Elhedery, Carolyn Julie Fairbairn†, James Anthony
Forese†, Ann Godbehere†, Steven Guggenheimer†, José Antonio Meade
Kuribreña†, Kalpana Morparia†, Eileen K Murray† Brendan Nelson†,
David Nish† and Swee Lian Teo†.

 

* Non-executive Group Chairman

(†) Independent non-executive Director

 

For and on behalf of

HSBC Holdings plc

 

Aileen Taylor

Group Company Secretary and Chief Governance Officer

 

This announcement contains both historical and forward-looking statements. All
statements other than statements of historical fact are, or may be deemed to
be, forward-looking statements. Forward-looking statements may be identified
by the use of terms such as 'expects,' 'targets,' 'believes,' 'seeks,'
'estimates,' 'may,' 'intends,' 'plan,' 'will,' 'should,' 'potential,'
'reasonably possible', 'anticipates,' 'project', or 'continue', variation of
these words, the negative thereof or similar expressions or comparable
terminology. HSBC has based the forward-looking statements on current plans,
information, data, estimates, expectations and projections about, among other
things, results of operations, financial condition, prospects, strategies and
future events, and therefore undue reliance should not be placed on them.
These forward-looking statements are subject to risks, uncertainties and
assumptions about us, as described under 'Cautionary statement regarding
forward-looking statements' contained in the HSBC Holdings plc Annual Report
on Form 20-F for the year ended 31 December 2022, filed with the SEC on 22
February 2023 (the '2022 Form 20-F'). HSBC undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise. In light of these risks,
uncertainties and assumptions, the forward-looking events discussed herein
might not occur. Investors are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of their dates. No
representation or warranty is made as to the achievement or reasonableness of
and no reliance should be placed on such forward-looking statements.
Additional information, including information on factors which may affect the
HSBC Group's business, is contained in the 2022 Form 20-F.

 

ends/more

 

Investor enquiries to:

Neil Sankoff
                                +44 (0) 20 7991
5072                        investorrelations@hsbc.com

Yafei
Tian
+852 2899
8909
yafei.tian@hsbc.com.hk

 

Media enquiries to:

UK - Kirsten Smart                          +44 (0) 20
79918096                         pressoffice@hsbc.com

Canada - Sharon Wilks                 +1 647 388 1202
 
sharon_wilks@hsbc.ca

 

 

Note to editors:

 

HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in
London. HSBC serves customers worldwide from offices in 62 countries and
territories.  With assets of US$3,021bn at 30 September 2023, HSBC is one of
the world's largest banking and financial services organisations.

 

 

ends/all

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