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Royal Bank of Scotland to participate in UK Government's APS

Posted on: Fri, 27 Nov 2009 10:00:00 EST

Symbols: BSLDF

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Nov 27, 2009 (M2 PRESSWIRE via COMTEX) --
BSLDF | Quote | Chart | News | PowerRating -- 27 November 2009 - The Royal Bank of Scotland Group Plc (LON: RBS) and
its subsidiary Royal Bank of Scotland Plc signed today an agreement to
participate in the UK Government's Asset Protection Scheme (APS).

The agreement and the participation is subject to a number of
conditions, including approval by the bank's shareholders in general
meeting and final approval by the European Commission (EC).

In addition, the bank will issue GBP25.5bn (USD41.9bn/EUR28.1bn) of new
capital to The Commissioners of Her Majesty's Treasury (HM Treasury) in
the form of B shares and a dividend access share, subject to
satisfaction or waiver of all conditions to Royal Bank of Scotland's
and its subsidiary's participation in the APS, approval by the
shareholders, final approval by the EC and other regulatory approvals.

HM Treasury commits to subscribe for up to an additional GBP8bn of
capital in the form of additional B shares in certain circumstances.

Comments on this story may be sent to admin@m2.com

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