REG - UK Govt. Invs. Ltd NatWest Group plc - Disposal of 590,730,325 Shares in NatWest Group

NatwestAnnouncement

19/03/2021 07:00

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RNS Number : 8391S  UK Government Investments Limited  19 March 2021

-NOT FOR DISTRIBUTION IN OR TO THE UNITED STATES (OR for the account or
benefit of, U.S. Persons), CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR IN ANY
OTHER JURISDICTION IN WHICH, OR TO PERSONS IN ANY JURISDICTION TO WHOM, SUCH
DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW

19 March 2021

UK Government Investments Limited ("UKGI")

Disposal of 590,730,325 Shares in NatWest Group plc

UKGI announces the successful completion of the disposal of part of HM
Treasury's shareholding in NatWest Group plc (the "Company"). The disposal was
effected by way of an off-market purchase (the "Off-Market Purchase") by the
Company of 590,730,325 ordinary shares in the Company with a nominal value of
£1 each (the "Shares"), pursuant to a contract between the Company and HM
Treasury signed on 7 February 2019 and most recently reapproved by the
Company's shareholders at its Annual General Meeting on 29 April 2020 (the
"Directed Buyback Contract").

The price paid by the Company for each Share was, in accordance with the
Directed Buyback Contract, 190.50 pence, being the price at the close of
trading yesterday on the main market for listed securities of London Stock
Exchange plc.

As a result of the Off-Market Purchase, the shareholding of HM Treasury has
reduced from 7,509,483,519 Shares, representing approximately 61.7% of the
ordinary share capital of the Company, to 6,918,753,194 Shares, representing
approximately 59.8% of the ordinary share capital after share cancellation and
excluding treasury shares.

Settlement of the Off-Market Purchase will occur on 23 March 2021.

Goldman Sachs is acting as Privatisation Adviser. Freshfields Bruckhaus
Deringer LLP is acting as legal counsel to UKGI in respect of English and US
law.

Contacts:

UKGI Press Office: Frances Collier-Wright, +447971610050

Citigate Dewe Rogerson: Toby Moore, Jos Bieneman, Andrew Hey, +442076389571

This press release is for information purposes only and does not constitute or
form a part of an offer to sell or a solicitation of an offer to purchase any
security of the Company in the United States or in any other jurisdiction
where such offer or solicitation is unlawful.  The securities of the Company
described in this press release have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any
applicable state or foreign securities laws and may not be offered or sold in
the United States absent registration or an exemption from the registration
requirements of the Securities Act.  There shall be no public offering of
securities in the United States.

 

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