Shareholder information
The Co-operative Bank is now part of Coventry Building Society
On 24 May, the Bank announced that Coventry Building Society and six of The Co-operative Bank Holdings’ major owners had signed a share purchase agreement under which Coventry Building Society would acquire the entire issued share capital of the Bank, subject to regulatory approval. The transaction completed on 1 January 2025.
Frequently Asked Questions
How much will I receive per share and when will it be paid?
Bank Holdings’ shareholders will, in accordance with the terms of the SPA, be entitled to receive a total cash consideration of £780 million (subject to customary post-completion price adjustments and the terms of the SPA).
Of the total cash consideration, up to £125 million will be deferred for a period of 3 years from completion subject to the future performance of the Bank and the terms of the SPA.
Please refer to the relevant details contained in the Drag Along Notice or contact Computershare for more information. You can contact Computershare directly on +44 (0370) 707 1319 or email WebCorres@computershare.co.uk.
What are the conditions attached to the deferred consideration?
These are confidential and have been agreed between the Coventry Building Society and the Bank’s B shareholders.
Holding Company A Shares
The Co-operative Bank Holdings p.l.c. has 9,029m A shares of £0.0001 in issue, 100% of which are owned by Coventry Building Society.
Ownership structure
Company Number 10865342 (England and Wales)
Public limited parent company (resolution entity) fully owned by Coventry Building Society. Issuing entity for all regulatory capital and MREL qualifying debt.
Company Number 11598074 (England and Wales)
Intermediate parent company wholly owned by The Co-operative Bank Holdings plc. Owns 100% of The Co-operative Bank p.l.c. Previous issuance entity for regulatory capital and MREL qualifying debt prior to notice of Issuer Substitution on 6 November 2023 at which point The Co-operative Bank Holdings plc replaced The Co-operative Bank Finance p.l.c as the principal debtor and issuer of the group’s existing capital and MREL qualifying debt.
Company Number 00990937 (England and Wales)
Operating company wholly owned by The Co-operative Bank Finance p.l.c. Originator of assets used for any covered bond or RMBS funding.
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