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

PA Awards 2025: Why MyFolio Index came out top as Best Risk Targeted Range of Funds

PA Awards 2025: Why MyFolio Index came out top as Best Risk Targeted Range of Funds

Aberdeen Investments Senior Investment Director and Head of Managed & Model Solutions Justin Jones shares what sets MyFolio Index apart following its Best Risk Targeted Range of Funds award win at the Professional Adviser Awards 2025.

Professional Adviser
clock 19 August 2025 • 3 min read
Woodford IM hits back at FCA's enforcement action including £46m in fines

Woodford IM hits back at FCA's enforcement action including £46m in fines

WIM said it 'strongly disagrees' with the regulator's decision

Cristian Angeloni
clock 05 August 2025 • 3 min read
Regulator bans and fines Neil Woodford and Woodford IM £46m

Regulator bans and fines Neil Woodford and Woodford IM £46m

Woodford has appealed the decision to the Upper Tribunal

Cristian Angeloni
clock 05 August 2025 • 3 min read