On 29 November 2013, The Co-operative Bank p.l.c. (the " Bank ") allotted, in aggregate, 3,700,000 additional 9.25% Non-Cumulative Irredeemable Preference Shares (the " Additional Preference Shares ") to the existing holders of Preference Shares, in lieu of cash payment of the dividend which was scheduled to be paid on 30 November 2013.
The Additional Preference Shares have been admitted to the UKLA's Official List and to trading on the main market of the London Stock Exchange on 12 December 2013.
In accordance with the terms of the exchange offers, which form part of the liability management exercise being conducted by the Bank and Co-operative Group Limited (the “Group ”) as announced on 4 November 2013, the Offer Record Date for the exchange offers in respect of the Preference Shares, the 13% Bonds and the 5.5555% Bonds was 11 December 2013. Accordingly, the Preference Shares, 13% Bonds and 5.5555% Bonds may not now be traded until the liability management exercise concludes.
Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Consent and Exchange Offer Memorandum dated 4 November 2013, which forms part of the Prospectuses published by the Bank and the Group on 4 November 2013.
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