UKFI’s activities in relation to the management of the Wholly-Owned Investments are set out in the UKFI Framework Document - Revised October 2014 Version
and UKFI Investment Mandate - Revised October 2014 Version
The ‘Wholly Owned’ investments comprised Northern Rock plc and UK Asset Resolution Ltd (UKAR), until the sale of Northern Rock plc to Virgin Money on 1 January 2012. UKAR was formed during 2010 to integrate the activities of NRAM plc and Bradford & Bingley plc. UKFI managed the Government’s 100% shareholding in Northern Rock plc from its formation on 1 January 2010 until its sale.
Government investments as of 1 April 2014 comprise
- £13.6bn of loans in NRAM;
- £2.4bn of Working Capital Facility (WCF) in Bradford & Bingley plc with an additional £18.4 billion statutory debt comprising £15.7 billion owed to the Financial Services Compensation Scheme (FSCS) (via a loan from HM Treasury) and £2.7 billion owed directly to HM Treasury, reflecting the value of the retail deposits which were transferred to Abbey National plc.
4th August 2015
UKFI today announces the disposal of approximately 5.4% of The Royal Bank of Scotland Group plc
Further to its announcement on 3 August 2015, UKFI announces the successful completion of the disposal of part of HM Treasury’s shareholding in The Royal Bank of Scotland Group plc (the “Company”). The disposal was effected by way of a Placing (the “Placing”) of ordinary shares (the “Placing Shares”) by way of an accelerated bookbuilding process to institutional investors.
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3rd August 2015
UKFI today announces that it intends to dispose of approximately 5.2% of The Royal Bank of Scotland Group plc
UKFI announces its intention to sell part of HM Treasury’s shareholding in The Royal Bank of Scotland Group plc (the “Company”). The disposal of these shares (the “Placing Shares”) will be by way of a placing to institutional investors (the “Placing”).
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