Frequently Asked Questions
25th May 2021 was the last dividend Lloyds Banking Group paid to shareholders at a rate of 0.57 pence per share (point 57 of one pence).
The Tender Offer is the method by which Lloyds Banking Group plc (“the Offeror”) is inviting current holders of 6.475% Non-Cumulative Preference shares, 9.25% Non-Cumulative Irredeemable Preference Shares and 9.75% Non-Cumulative Irredeemable Preference Shares to tender any and all of their holdings at the relevant Purchase Price.
The Offeror is offering to purchase for cash any and all of the Preference Shares, on the terms and subject to the conditions contained in the Tender Offer Memorandum.
In order to help Lloyds Banking Group serve the needs of businesses and households through the extraordinary challenges presented by COVID-19, the board decided that until the end of 2020 the company will undertake no quarterly or interim dividend payments, accrual of dividends, or share buybacks on ordinary shares.
The Offer is part of the Group’s continuous review and management of its outstanding capital issuance, maintaining a prudent approach to the management of the Group’s capital position.
You can either have your dividend paid in cash or you can reinvest future dividend payments. You can apply for the Lloyds Banking Group Dividend Re-Investment Plan via a shareview portolfio, you can download an application form by going to the Reinvest my dividends page, and selecting Lloyds Banking Group from the company drop down or request an application form to be sent to by post via the contact forms in the contact section.
The Purchase Price for each Series of the Preference Shares is set out in the table in the letter sent to all shareholders, and is expressed as a percentage of the liquidation preference of the relevant Preference Shares. The relevant Purchase Price includes accrued and unpaid dividends on the relevant Preference Shares from, and including, the dividend payment date for the relevant Preference Shares immediately preceding the General Settlement Date up to, but excluding, the General Settlement Date.
In respect of any Preference Shares which are accepted for purchase from Retail Holders whose respective tender instructions are received after the General Expiration Deadline and prior to the Retail-Only Expiration Deadline, the Offeror will also pay on the Retail-Only Settlement Date an amount equal to any accrued and unpaid dividends on the relevant Preference Shares from, and including, the General Settlement Date up to, but excluding, the Retail-Only Settlement Date.
Please let us know the details of the outstanding payment(s) via the contact forms in the contact section and we’ll get back to you, or alternatively you can return the cheque to us by post and we can re-issue it for you. Please be aware there may be a fee for the re-issue of the payment.
The price payable in respect of the Preference Shares of each Series accepted for purchase (the “Purchase Price”) is set out in the table on the cover page of the Tender Offer Memorandum.
If the General Settlement Date is not a dividend payment date in respect of the relevant Series of Preference Shares, the Purchase Price in respect of that Series of Preference Shares includes an amount equal to any accrued and unpaid dividends on the relevant Preference Shares from, and including, the dividend payment date for the relevant Preference Shares immediately preceding General Settlement Date up to, but excluding, the General Settlement Date.
You can update/supply your bank details via a shareview portfolio, you can complete the mandate form attached to your dividend cheque or you can complete a contact form in the contact section and we’ll get back to you.
If you have a shareview portfolio you can login and update your address online, you can download, complete and send a change of address form to us, or you can complete a contact form in the contact section below and we’ll get back to you.
If you are a certificated shareholder and wish to accept the Tender Offer, you should complete and sign the Tender Form in accordance with the instructions printed on it. It should be returned with your share certificate(s) and, if applicable, documents of title in the reply-paid envelope or by hand, during normal business hours, to
Equiniti Limited,
Corporate Actions,
Aspect House,
Spencer Road,
Lancing,
West Sussex
BN99 6DA.
Full instructions for acceptance are set out on the Tender Form and within the Tender Offer Memorandum.
If you hold multiple description of Preference Shares which are under this Offer, then you will need to complete a Tender Form for each security held.
We can certainly update your name, we will require sight of the relevant documentation before we can do so. Please let us know how you’ve updated your name via a contact form in the contact section and we’ll get back to you.
We’re sorry to hear about the passing of the shareholder, you can notify us via the contact forms available in the contact section or you can view our dedicated bereavement section on our shareview website bereavement section.
You are not obliged to tender any of your Preference Shares. If you choose not to tender any Preference Shares, your holding will be unaffected, and you will continue to hold the Preference Shares subject to their terms and conditions.
We can certainly assist you with the next steps you can take, you can find guidance on the next steps in our bereavement process via the bereavement support section on this website by clicking this link
To transfer Certificated shares, the completion of an Ordinary Stock Transfer form and the surrendering of your share certificates would be required, or if you hold your shares in the LBGSA it will be via the completion of transfer form A. You can download and print the stock transfer form, If you require a transfer form A, please complete a contact form in the contact section to request one.
You should send the Tender Form with any supporting share certificates in the reply-paid envelope provided or by post to:
Equiniti Limited,
Corporate Actions,
Aspect House,
Spencer Road,
Lancing,
West Sussex
BN99 6DA.
You may also deliver the form by hand during normal business hours to Equiniti at the same address by the Retail-Only Expiration Deadline being that of 1.00p.m. on 9 December 2021.
You can find the dealing services we offer at Equiniti dealing services, if you’re looking to sell your certificated shares, you can also do this by contacting a stock broker of your choice.
Yes. You need to send in a certificate(s) that covers the amount of shares in respect of which you are accepting the Offer. Without the certificate(s) the request is invalid and will not be accepted. Balance certificates, if applicable, will be sent out accordingly once the Tender Offer acceptance period is closed and all calculations have been made.
- 1. Go to www.shareview.co.uk/register
- 2. Select Lloyds Banking Grp for 'The company you hold shares in'.
- 3. Enter your Shareholder Reference Number, personal details and contact preferences.
- 4. Create a password (consisting of 12-64 characters in length and contains at least 1 uppercase letter, 1 lowercase letter, 1 number and 1 special character). Also set-up three security questions that we will use to identify you if you have forgotten your details at a later date and to keep your account safe.
- 5. Accept our Terms and conditions and then you will be able to view your shares online. In order to gain full access to all the services the portfolio offers, you’ll need to enter an activation code, once you’ve completed the registration this will automatically be sent your registered home address. Once you have received your activation code, simply log back in and enter the activation code when prompted to do so.
If you hold 3,000 Preference Shares or less, complete and return the Tender Form with Part 3 completed relating to the Declaration and Indemnity that forms part of the Tender Instruction and return the completed Tender Instruction, to the Receiving Agent by no later than the relevant Expiration Deadline.
If you have lost Preference Share certificates of more than 3,000 shares, then you would need to request a Letter of Indemnity from Equiniti before the Tender instruction can be treated as valid.
If you already have a Shareview Portfolio to manage other shareholdings with Equiniti, you just need to login, select 'Add an investment' and follow the on-screen instructions.
You cannot revoke or amend your Tender once submitted
We cannot provide individual tax advice. If you are in any doubt about your tax position, or if you are subject to tax in a jurisdiction other than the United Kingdom, you should consult an independent professional advisor. Holders of the Preference Shares should consult their own tax, accounting, financial and legal advisers regarding the consequences of participating in the Offers.
Yes. Shares can be traded in the normal way during the Tender Offer period. However, if you accept to tender your Preference Shares via this Offer, then the shares will be held in escrow and be unable to be traded.