31.05.2024 08:24:00
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UKGI Complets Disposal Of Part Of HM Treasury's Stake In NatWest Group For GBP 1.24 Bln
(RTTNews) - UK Government Investments Limited or UKGI announced Friday that it has completed the disposal of part of His Majesty's Treasury's shareholding in NatWest Group plc (NWG.L), a banking and financial services company, for 1.24 billion pounds.
The disposal was effected by way of an off-market purchase by NatWest of 392.45 million ordinary shares, pursuant to a contract between the company and HM Treasury signed on February 7, 2019. the deal was amended on November 17, 2022 and May 7, 2024 and most recently reapproved by NatWest's shareholders at its Annual General Meeting on April 23.
In accordance with the Directed Buyback Contract, the company paid 316.2 pence per each share, being the price at the close of trading on May 30 on the London Stock Exchange plc. The company intends to cancel 222.45 million of the purchased Shares and hold the remaining 170 million Shares in treasury.
Following the disposal, HM Treasury's percentage of voting rights in the company will fall to around 22.50% from approximately 25.98%.
HM Treasury's percentage of voting rights may increase if shares are purchased by the company under its ongoing share buyback programme.
Settlement of the Off-Market Purchase will occur on June 4.

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