Lloyds Banking Group Plc (LYG, LLOY.L) announced that the Issue Price at which the New Shares will be offered pursuant to the Rights Issue has been set at 37 pence per New Share.
The Rights Issue comprises the offer of 36.5 billion New Shares at an Issue Price of 37 pence on the basis of 1.34 New Shares for every 1 Existing Ordinary Share held at the Record Date. The expected gross proceeds of the Rights Issue receivable by Lloyds Banking Group total £13.5 billion.
The New Shares will represent 57.3% of the enlarged share capital of Lloyds Banking Group immediately following completion of the Rights Issue and Share Subdivision.
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