TSB Banking Group plc - Offer
TSB Banking Group plc (referred to as "TSB" and "the Company") has launched an Offer of up to 125,000,000 Ordinary shares in TSB (25 per cent of the issued Ordinary share capital of the Company). The number of Ordinary shares to be issued may be increased or decreased during the course of the Offer.
We would like to give you the opportunity to participate in this public offering to invest in TSB Ordinary shares prior to their listing on the London Stock Exchange. Whether or not the Offer (or any part of it) will proceed, and the number of shares to be made available under the Offer (or any part of it), will only be decided by Lloyds Bank plc at the time of the determination of the Offer Price.
This communication is issued by, and is the sole responsibility of, IWeb Share Dealing, operated by Halifax Share Dealing Limited. This offer is only available to customers who are located in the United Kingdom, the Channel Islands and the Isle of Man. Any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto, including the pricing notification to be published in due course.
The Offer price per Ordinary share is expected to be between 220p and 290p per Ordinary share.
The minimum investment is GBP750. There is no maximum application amount.
Under the terms of the Offer, investors should not make multiple elections. Where multiple elections are made, these will be amalgamated to submit a single application on your behalf.
Please be aware that this is a General Public Offer and is being offered to you independently of any current share holdings you may have.
Below you will find relevant information about the IPO process, including details of the web page hosting the Prospectus. We are unable to provide any financial advice regarding this Offer: any application to invest must be based entirely on the Prospectus. If you are in any doubt as to the content of the Prospectus we recommend that you seek appropriate financial advice in order to gain a full understanding.
If you would like to apply please ensure you submit your option before 17 June 2014 23:59 to enable us to process your instruction in accordance with the Company's timetable for this event. The Company reserves the right to amend the deadline for applying for shares at any stage in the process. If this happens then we will process the applications received as at the amended date.
Before proceeding with an application you must read, and take the necessary steps to understand, the Prospectus.
If you do not wish to participate, please take no further action.
You Have The Following Option:
1 Apply for TSB Banking Group plc.
We will process your instruction on or after 17 June 2014 23:59. Please ensure funds to take up your Entitlement are available as detailed in the 'How Will Payment be Made?' section.
If you do not have sufficient cleared funds to take up all of the specified number of shares then we will take up the maximum number of shares we can based on the funds available.
Important Information & Other Key Dates:
The Company reserves the right to amend the deadline for applying for shares at any stage in the process. If this happens then we will process the applications received as at the amended date.
The Company intends to apply for admission of its Ordinary shares to the Premium Listing Segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities. It is expected that Admission will become effective on 20 June 2014 with conditional dealings commencing on that day. Unconditional dealings will commence on 25 June 2014. Please note that, if for any reason, the Offer were to not go ahead any dealings undertaken during the conditional dealings period of 20 June 2014 - 25 June 2014 may be subject to change. Any changes will be communicated at that time.
The Offer price per Ordinary share is expected to be between 220p and 290p per Ordinary share, implying a market capitalisation on Admission of between GBP1.1 billion and GBP1.45 billion. The publication of the Offer price is expected to be on or after 20 June 2014 prior to the start of conditional dealing.
By applying for shares, you irrevocably agree to invest in shares up to the amount stated in your application regardless of whether the Offer price per share is set within the price range as set out in the Prospectus, or outside of that range.
The allocation policy for the Offer will be determined at the absolute discretion of the Company (as detailed in the Prospectus). We will then apply this allocation policy to all applications. In the event of the Offer being scaled back, any consideration owed to you will be returned.
Whether or not the Offer (or any part of it) will proceed, and the number of shares to be made available under the Offer (or any part of it), will only be decided by Lloyds Bank plc at the time of the determination of the Offer price.
TSB plc Ordinary shares may be held in a Share Dealing Account, an ISA or a SIPP. Please ensure that should you hold multiple accounts with us, you elect and fund the account in which you would like to take up the Offer.
Halifax Share Dealing Limited (HSDL) will receive an initial commission of 0.85 percent for any shares allotted to HSDL under the Offer from The Authorised Offeror but you will not be charged any dealing commission for this initial allotment, nor will your investment be reduced to cover this.
Before making any decision please take into consideration all relevant factors of the event including any possible tax implications. If you require any further information in making your decision please contact an appropriate independent advisor.
What Happens If I Don't Elect ?
If you do not wish to apply for any shares you should take no action.
When Is The Last Time I Can Elect ?
Please ensure you submit your option before 17 June 2014 23:59 to enable us to process your instruction in accordance with the Company's timetable for this event.
How Will Payment Be Made ?
Your Cash Management Account must be funded with sufficient cash by 17 June 2014 23:59.
The most efficient way to fund your Cash Management Account is by using a debit card, where you can fund your account immediately using the 'Fund and Withdraw' facility online or by contacting our call centre.
If you do not have a debit card set up on your account, simply contact our call centre and we can set this up immediately.
If you choose to sell shares held in your Share Dealing Account to raise funds required for this Offer the Settlement Date of the sale will need to be by 17 June 2014 23:59.
Please note that it is your responsibility to ensure sufficient cleared funds are available in your Cash Management Account by 17 June 2014 23:59. Payment will NOT be taken from your bank account automatically.
If you do not have sufficient cleared funds then we will take up the maximum number of shares we can based on the funds available.
Making My Decision:
I elect to buy TSB Banking Group plc. I have read the prospectus and agree to the terms of the Offer. The amount entered below reflects the quantity of cash I wish to invest (GBP2100.00 should be entered as 2100).
Please ensure you have funds available as detailed in 'How Will Payment Be Made?' section.
Please enter the total value (in £) required: