SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
11 June 2009
LLOYDS BANKING GROUP plc
(Translation of registrant's name into English)
5th Floor
25 Gresham Street
London
EC2V 7HN
United Kingdom
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports
under cover Form 20-F or Form 40-F.
Form 20-F..X..Form 40-F.....
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- ________
Index to Exhibits
Item
No. 1 Regulatory News Service Announcement, 11 June, 2009
re: Completion of HMT Preference Share Redemption
65/09 11 June 2009
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM CANADA, HONG KONG, JAPAN, MALAYSIA, THAILAND OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
LLOYDS BANKING GROUP ANNOUNCES THE SUCCESSFUL COMPLETION OF THE HMT PREFERENCE SHARE REDEMPTION
Unless otherwise defined in this announcement, capitalised definitions shall have the same meaning as in the prospectus (“the Prospectus”) published on 20 May 2009 by Lloyds Banking Group plc (the “Company” or “Lloyds Banking Group”) in connection with the Placing and Compensatory Open Offer.
Lloyds Banking Group plc
announces that
following its announcement on 8 June
2009 of the redemption of
3,475,284
HMT Preference
Shares, it has today used
proceeds of the
“rump” placing of the Open
Offer Shares for which valid acceptances were not received under the Compensatory Open
Offer, together with existing
cash resources, to redeem all
524,716
remaining
HMT
Preference Shares issued to
HM Treasury in January
2009 at 101 per cent of their
issue price (in accordance with the terms agreed with HM Treasury) together with accrued
dividends thereon (the
“HMT Preference Share
Redemption”).
As a result of the completion of
the HMT Preference Share
Redemption, the
previous
restr
ictions which had prevented
Lloyds Banking Group
from paying dividends on its Ordinary
Shares have now been
removed.
Whilst it is not the Board’s
intention to pay a dividend on
Ordinary Shares in 2009, the Board intends
to resume dividend payments on
its Ordinary Shares as soon as market
conditions and the financial position of
Lloyds Banking
Group
permits
.
Redemption of
the
HMT Preference
Shares
also
remove
s the £480 million
annual cost of the dividends
payable on the HMT Preference Shares
which
will thereby improve
Lloyds Banking
Group’s
profitability, cashflow, liquidity and
organic capital generation.
For further information:
Investor Relations
Michael
Oliver +44
(0) 20 7356 2167
Director of Investor Relations
Email:
michael.oliver@ltsb-finance.co.uk
Douglas
Radcliffe +44
(0) 20 7356 1571
Senior Manager, Investor Relations
Email:
douglas.radcliffe@ltsb-finance.co.uk
Media Relations
Shane
O’Riordain
+44 (0) 20 7356 1849
Group Communications Director
Email: shane.o’riordain@lloydsbanking.com
This announcement does not constitute a prospectus or prospectus equivalent document. This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security.
This announcement does not constitute an offer to sell, or a solicitation of an offer to subscribe for, the securities being issued in any jurisdiction in which such offer or solicitation is unlawful.
The Prospectus is available on the website of Lloyds Banking Group (www.lloydsbankinggroup.com) and in hard copy from Lloyds Banking Group’s registered office.
This announcement is not for distribution, directly or indirectly, in or into Canada, Hong Kong, Japan, Malaysia, Thailand or any other state or jurisdiction in which it would be unlawful to do so. This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein (the “Securities”) have not been, and will not be, registered under the United States Securities Act of 1933 (the “Securities Act”). The Securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. There will be no public offer of the Securities in the United States.
This announcement includes certain forward looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 with respect to the business, strategy and plans of Lloyds Banking Group and its current goals and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about Lloyds Banking Group’s or management’s beliefs and expectations, are forward looking statements. Words such as ‘believes’, ‘anticipates’, ‘estimates’, ‘expects’, ‘intends’, ‘aims’, ‘potential’, ’will’, ‘would’, ‘could’, ‘considered’, ‘likely’, ‘estimate’ and variations of these words and similar future or conditional expressions are intended to identify forward looking statements but are not the exclusive means of identifying such statements. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future.
Examples of such forward looking statements include, but are not limited to, projections or expectations of the Group’s future financial position including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, expenditures or any other financial items or ratios; statements of plans, objectives or goals of Lloyds Banking Group or its management including in respect of the integration of HBOS and the achievement of certain synergy targets; statements about the future business and economic environments in the UK and elsewhere including trends in interest rates, foreign exchange rates, credit and equity market levels and demographic developments, competition, regulation, dispositions and consolidation or technological developments in the financial services industry; and statements of assumptions underlying such statements.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
LLOYDS BANKING GROUP plc
(Registrant)
By: M D Oliver
Name: M D Oliver
Title: Director of Investor Relations
Date: 11 June, 2009