Further to its announcement on 9 December 2013 of its intention to sell shares in St James’s Place plc, Lloyds Banking Group plc has announced that 109 million shares have been placed at a price of 630 pence per share.
The gross proceeds of the Placing are approximately £680 million.
Settlement of the Placing will take place on 13 December 2013. Following completion of the Placing, Lloyds will no longer hold any shares in St. James’s Place for its own account.
As a result of the Placing, the Group will realise a gain on sale of approximately £105 million.