Lloyds offers share discount
LLOYDS Banking Group today set out details of its £13.5 billion UK record cash call to the bank's army of 2.8 million private shareholders.
The group, which is 43 per cent owned by the taxpayer, is offering shareholders stock at 38.6 per cent discount under plans to avoid taking part in the Government's toxic asset insurance scheme.
The average shareholder will be asked to stump up 336.67 to take part and maintain their stake.
Meanwhile, Lothians Labour MSP George Foulkes said the bank should stop playing "human chess" with its top executives.
Susan Rice stepped down as chair and chief executive of Lloyds TSB Scotland last week, but remains managing director of Lloyds Banking Group in Scotland.
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Friday 25 May 2012
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