Following its announcement on 22 May 2013 of its intention to sell shares in St James’s Place plc, Lloyds Banking Group plc has announced that 77 million shares have been placed at a price of £5.80 per share.
The gross proceeds of the Placing are approximately £450 million.
Settlement of the placing will take place on 29 May 2013. On completion, Lloyds will hold 110 million St James’s Place shares, approximately 21% of the company’s issued share capital.
As a result of the placing, the group will realise a gain on sale of approximately £40 million.