The Company has appointed Asset Match to facilitate trading in the ordinary shares. Asset Match, a firm authorised and regulated by the Financial Conduct Authority, operate an electronic off-market dealing facility.
Shareholders wishing to trade shares on Asset Match must do so through a UK stockbroker. The preferred broker is shareDeal active (www.sharedealactive.co.uk). However please contact Asset Match to confirm whether your existing broker is set-up to deal.
The Asset Match trading facility operates under its own code of practice which governs the behaviour of participants and the running of the periodic auctions. Asset Match operates an open auction system where volumes of bids and offers at different prices are displayed on its website together with the closing date of the auction. At the end of each auction period Asset Match pass this information through a non-discretionary algorithm that determines a “market-derived” share price based on supply and demand and allocates transactions accordingly. Bids and offers may be made and withdrawn at any time before the closing date of each auction.
PV27, the Bank’s largest shareholder, has expressed an interest in making available up to £100,000 to bid for RBL Shares at the first auction. The reason for PV27 making available such monies would be to acquire small holdings of shares. Accordingly, the maximum value of any offer to sell RBL Ordinary Shares to PV27 in that first auction will be £2,500 (or equivalent to 2,358 RBL Ordinary shares).
To assist minority shareholders further, an arrangement has been put in place for those holding 500 shares or less to sell their shares at Nil cost when using shareDeal active. PV27 will not be able to offer such trading concessions when using any other brokers and the usual dealing costs will apply.
Asset Match Limited
New Broad Street House
35 New Broad Street