Blueprint
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For
October 24, 2017
Commission
File Number: 001-10306
The
Royal Bank of Scotland Group plc
RBS,
Gogarburn, PO Box 1000
Edinburgh
EH12 1HQ
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form
20-F X Form 40-F
___
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1):_________
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7):_________
Indicate
by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes ___
No X
If
"Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-
________
The following information was issued as Company announcements
in London, England and is furnished pursuant to General Instruction
B to the General Instructions to Form
6-K:
Royal Bank of Scotland Group PLC
24 October 2017
Disposal of shareholdings in Euroclear plc
The Royal Bank of Scotland Group plc ("RBS") announces that its
subsidiaries have today entered into an agreement to dispose of
RBS' entire shareholdings in Euroclear plc to
IntercontinentalExchange Holdings.
The transaction, which was also completed today, involved the sale
of 148,349 ordinary shares in Euroclear plc for a total cash
consideration of €275 million (approximately £245
million at current exchange rates)*. KPMG Corporate Finance
acted as financial advisers to RBS and Simmons & Simmons acted
as legal advisers to RBS on this transaction.
The sale proceeds will be used for general corporate
purposes.
The
transaction is part of the continued reduction of assets in RBS and
is in line with the bank's plan to strengthen its capital
position.
The
carrying value of the shareholding in Euroclear plc as at 30 June
2017 was approximately £88 million, which represents RWA
equivalent of around £220 million. The transaction is
expected to generate a gain of approximately £175 million
after associated costs, reserves recycling and before tax, which
will be recognised as a gain on strategic disposal in Q4
2017.
For further information, please contact:
RBS Investor Relations
Matt Waymark
Head of Investor Relations
Tel: +44 (0) 20 7672 1758
* Under the terms
of the sale agreement, additional consideration may become payable
in certain circumstances if the purchaser either resells Euroclear
plc shares acquired pursuant to this transaction or acquires
further shares in Euroclear plc, in each case at or above certain
agreed pricing thresholds within a specified period following
completion.
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995, including (but not limited to) those with respect to
RBS and its subsidiaries' regulatory capital position, financial
position, risk-weighted assets, profitability and financial
performance and the implementation of RBS's transformation
programme under certain specified scenarios. In addition,
forward-looking statements may include, without limitation,
statements containing words such as "intends", "believes",
"expects", "anticipates", "targets", "plans", "will" and similar
expressions or variations on these expressions. These statements
concern or may affect future matters, such as RBS's future economic
results, business and capital plans and ability to achieve current
strategies. Forward-looking statements are subject to a number of
risks and uncertainties that might cause actual results and
performance to differ materially from any expected future results
or performance expressed in, or implied by, the forward-looking
statements. Factors that could cause or contribute to differences
in current expectations include, but are not limited to,
legislative, political, fiscal and regulatory developments,
accounting standards, competitive conditions, technological
developments, interest and exchange rate fluctuations and general
economic conditions. These and other factors, risks and
uncertainties that may impact any forward-looking statement or
RBS's actual results are discussed in RBS's 2016 Annual Report and
Accounts (ARA) and its interim results for the six-months ended 30
June 2017 and materials filed with, or furnished to, the United
States Securities and Exchange Commission, including, but not
limited to, RBS's most recent Annual Report on Form 20-F and
Reports on Form 6-K. The forward-looking statements contained in
this announcement speak only as of the date they are made or
revised and RBS does not assume or undertake any obligation or
responsibility to update any of the forward-looking statements
contained in this announcement, whether as a result of new
information, future events or otherwise, except to the extent
legally required.
Legal
Entity Identifier: 2138005O9XJIJN4JPN90,
RR3QWICWWIPCS8A4S074
Date: 24
October 2017
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THE
ROYAL BANK OF SCOTLAND GROUP plc (Registrant)
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By: /s/
Jan Cargill
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Name:
Jan Cargill
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Title:
Deputy Secretary
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