HBOS Hbos

    RNS Number : 5121L
  HBOS PLC
  12 January 2009
   

    HBOS plc
    12 January 2009 


    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

    Court sanction of Preference Scheme

    The Board of HBOS is pleased to announce that the Court has today made an order sanctioning the Preference Scheme.
    In order for the Preference Scheme to become effective in accordance with its terms, the Court will need to confirm the associated
reduction of capital at the Reduction Court Hearing which is scheduled to take place on 16 January 2009, and the Preference Reduction Court
Order will need to be registered with the Registrar of Companies. The Preference Scheme is expected to become effective on 16 January 2009.
    It is expected that dealings in HBOS Preference Shares and American depositary receipts ("ADRs") evidencing HBOS Preference ADSs will be
suspended from 6.00 p.m. on 14 January 2009 and that the listing of HBOS Preference Shares and ADRs evidencing HBOS Preference ADSs will be
cancelled at 8.00 a.m. on 19 January 2009.
    Capitalised terms used in this announcement shall have the meanings given to them in the Preference Scheme Document dated 14 November
2008.

    Contacts

    Investor Relations:    
    Charles Wycks
    Director of Investor Relations
    +44 (0)20 7905 9600
    charleswycks@hbosplc.com


    Press Office:              
    Shane O'Riordain
    General Manager, Group Communications
    +44 (0)131 243 7195
    +44 (0)7770 544585 (mobile)
    shaneo'riordain@hbosplc.com

    Dealing Disclosure Requirements
    Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes, 'interested' (directly or indirectly)
in 1% or more of any class of 'relevant securities' of Lloyds TSB Group plc ('Lloyds TSB') or of HBOS, all 'dealings' in any 'relevant
securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities')
must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction.
This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is
otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of Lloyds TSB or of HBOS, they will be deemed
to be a single person for the purpose of Rule 8.3.
    Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of Lloyds TSB or of HBOS by Lloyds TSB or HBOS, or
by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following
the date of the relevant transaction.
    A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of
such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk. 
    'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in
the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of
securities, or by virtue of any option in respect of, or derivative referenced to, securities.
    Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether
or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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