Lloyds Banking Group (NYSE: LYG) lists unallotted share plan stock
Rhea-AI Filing Summary
Lloyds Banking Group plc provides an update on shares reserved for its employee and executive share plans following a change to the UK Listing Rules that removes the block listing regime. The company lists the ordinary shares of 10p each that were previously block listed and remain unallotted under these plans at the time of the announcement.
Unallotted balances include 59,782,991 Shares under the Lloyds Banking Group Sharesave Scheme (2017), 53,464,609 Shares under the Share Incentive Plan, 9,656,123 Shares under the Executive Group Ownership Share Plan, 70,000,000 Shares under the Deferred Bonus Plan (2021), and 108,100,000 Shares under the Long Term Share Plan (2020). The company states that these Shares will be allotted to plan participants in line with plan terms and that such allotments will be announced no later than 60 days after they occur.
Positive
- None.
Negative
- None.
FAQ
What does Lloyds Banking Group plc (LYG) disclose in this Form 6-K?
Lloyds Banking Group plc discloses details of ordinary shares of 10p each that were previously block listed and remain unallotted under its various share plans as at the time of the announcement. This follows a change to the UK Listing Rules that removes the block listing regime.
Which Lloyds Banking Group (LYG) share plans have unallotted shares and in what amounts?
The filing lists unallotted balances for several plans: 59,782,991 Shares under the Lloyds Banking Group Sharesave Scheme (2017), 53,464,609 Shares under the Share Incentive Plan, 9,656,123 Shares under the Executive Group Ownership Share Plan, 70,000,000 Shares under the Deferred Bonus Plan (2021), and 108,100,000 Shares under the Long Term Share Plan (2020).
Why is Lloyds Banking Group (LYG) providing an update on block listed shares?
The company explains that, effective the date of the announcement, the UK Listing Rules have been amended to remove the block listing regime. Because Lloyds historically used this regime for its share plans, it is now setting out the number of shares that were block listed under the previous regime and remain unallotted.
How will unallotted Lloyds Banking Group share plan shares be handled going forward?
The company states that the unallotted Shares will be allotted to share plan participants in accordance with the terms of each plan. It also states an intention to announce these allotments no later than 60 days after the date on which they occur.
How will future Lloyds Banking Group (LYG) share plan allotments be disclosed?
The filing states that any further allotments of Shares pursuant to the company's share plans will be announced in line with its obligations under the Prospectus Rules: Admission to Trading on a Regulated Market sourcebook.
What change to the UK Listing Rules affects Lloyds Banking Group share plans?
The document notes that, effective the date of the announcement, the UK Listing Rules have been amended to remove the block listing regime. As a result, any future Shares allotted under the company's share plans will be automatically listed rather than block listed.
