Sale of shares in Secure Trust Bank PLC

RNS Number : 1025U

Arbuthnot Banking Group PLC

31 March 2021

 

Arbuthnot Banking Group PLC

Sale of shares in Secure Trust Bank PLC ("Secure Trust")

Arbuthnot Banking Group PLC ("Arbuthnot" or "the Group") announces that it has disposed of 750,000 ordinary shares of 40 pence each of Secure Trust ("Sale Shares") raising gross proceeds of approximately £8.6m (the "Sale").

Following the completion of the Sale, the Group will be interested in 1,069,538 ordinary shares of 40 pence each in the capital of Secure Trust, representing approximately 5.74 per cent of Secure Trust's issued share capital.  As a result of this Sale and its reduced holding, there will be a reduction in any dividends receivable from Secure Trust. Secure Trust did not declare a final dividend in respect of the year ended 31 December 2019 or an interim dividend in 2020.  The Sale will result in a decrease of approximately £0.33 million in dividend income for the Group based on the final dividend of 44 pence per share declared by Secure Trust for the year ended 31 December 2020. 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

The Directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

Arbuthnot Banking Group  020 7012 2400

Sir Henry Angest, Chairman and Chief Executive

Andrew Salmon, Group Chief Operating Officer

James Cobb, Group Finance Director

Grant Thornton UK LLP (Nominated Adviser and

AQSE Exchange Corporate Adviser)  020 7383 5100

Colin Aaronson

Samantha Harrison

Seamus Fricker

Numis Securities Ltd (Joint Broker)  0207 260 1000

Stephen Westgate

Shore Capital (Joint Broker)  020 7408 4090

Hugh Morgan

Daniel Bush

Maitland/AMO (Financial PR)  020 7379 5151

Neil Bennett

Sam Cartwright

 

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