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10 months ago
BRIEF-UKFI says to sell shares in Lloyds Banking Group under trading plan
October 7, 2016 / 12:52 PM / 10 months ago

BRIEF-UKFI says to sell shares in Lloyds Banking Group under trading plan

Oct 7 (Reuters) - UK Financial Investments Limited :

* UKFI announce trading plan in Lloyds Banking Group

* Intention to sell shares in Lloyds Banking Group Plc through a trading plan

* UK Financial Investments Limited says trading plan will commence today and will terminate no later than 6 October 2017

* Under trading plan, Morgan Stanley will have full discretion to effect a measured and orderly sell down of shares in company on behalf of HMT

* HMT has instructed Morgan Stanley that up to, but no more than, 15 pct of aggregate total trading volume in co may be sold over duration of trading plan

* Sales intended over next twelve months through a pre-arranged trading plan that will be managed by Morgan Stanley & Co. International Plc

* Says HMT currently owns approximately 6.5 billion ordinary shares in company, which represents approximately 9.1 pct of issued share capital

* Goldman Sachs International is acting as privatisation strategy adviser to UKFI

* Shares may not be sold under trading plan below a certain price per share that UKFI and HMT have determined represents fair value currently Source text for Eikon: (Bengaluru Newsroom: +91 80 6749 1136)

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