RBS preps for govt stake sale with shareholder vote

Laura Miller
clock

Royal Bank of Scotland (RBS) is preparing shareholders for the government to sell down its 79% stake in the lender by asking them to vote on costs related to a sale at its annual general meeting.

Philip Hampton, the chairman, has written to investors asking them to support the ‘‘related party transaction'', which will mean RBS pays the cost of publishing any documents needed for the share sale. Hampton wrote that RBS should have held the vote and got the green light from shareholders when the government completed a £45bn bail-out in 2009 but this was "not obtained". He did not say why. The letter made clear that any sell-down of the government's stake is at the "sole discretion of HM Treasury", according to the Telegraph. But it said RBS believes the move is in the "best in...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Why the bull market in precious metals may be starting again

Why the bull market in precious metals may be starting again

Silver and gold again – who would have thought it?

Paul Wood
clock 20 May 2026 • 2 min read
Omnis Investments launches passive range for Openwork and 2plan advisers

Omnis Investments launches passive range for Openwork and 2plan advisers

L&G to run day-to-day investment management

Patrick Brusnahan
clock 19 May 2026 • 2 min read
Digital bank Zopa gains targeted support authorisation

Digital bank Zopa gains targeted support authorisation

Receives regulatory approval for investment products

Sophia Panayi
clock 19 May 2026 • 1 min read