Trading market
Non-cumulative dollar preference shares
On 26 March 1997, 8 February 1999, 30 September 2004, 26 August 2004, 19 May 2005, 9 November 2005, 25 May 2006, 27 December 2006, 28 June 2007, 27 September 2007 and 4 October 2007 the company issued the following American Depositary Shares ("ADSs") representing non-cumulative dollar preference shares of the company, in the United States, which were outstanding at 31 December 2007:
8,000,000 Series F ("Series F ADSs") representing 8,000,000 non-cumulative dollar preference shares, Series F;
12,000,000 Series H ("Series H ADSs") representing 12,000,000 non-cumulative dollar preference shares, Series H;
34,000,000 Series L ("Series L ADSs") representing 34,000,000 non-cumulative dollar preference shares, Series L;
37,000,000 Series M ("Series M ADSs") representing 37,000,000 non-cumulative dollar preference shares, Series M;
40,000,000 Series N ("Series N ADSs") representing 40,000,000 non-cumulative dollar preference shares, Series N;
22,000,000 Series P ("Series P ADSs") representing 22,000,000 non-cumulative dollar preference shares, Series P;
27,000,000 Series Q ("Series Q ADSs") representing 27,000,000 non-cumulative dollar preference shares, Series Q;
26,000,000 Series R ("Series R ADSs") representing 26,000,000 non-cumulative dollar preference shares, Series R;
38,000,000 Series S ("Series S ADSs") representing 38,000,000 non-cumulative dollar preference shares, Series S;
64,000,000 Series T ("Series T ADSs") representing 64,000,000 non-cumulative dollar preference shares, Series T; and
15,000 Series U ("Series U ADSs") representing 15,000 non-cumulative dollar preference shares, Series U.
Each of the respective ADSs set out above represents the right to receive one corresponding preference share, and is evidenced by an American Depositary Receipt ("ADR") and is listed on the New York Stock Exchange, a subsidiary of NYSE Euronext ("NYSE").
The ADRs evidencing the ADSs above were issued pursuant to Deposit Agreements, among the company, The Bank of New York, as depository, and all holdersfrom time-to-time of ADRs issued thereunder. Currently, there is no non-United States trading market for any of the non-cumulative dollar preference shares. All of the non-cumulative dollar preference shares are held by the depository, as custodian, in bearer form.
In January 2007, the company redeemed the 8 million Series E non-cumulative preference shares of US$0.01 each, the 10 million Series G non-cumulative preference shares of US$0.01 each and the 16 million Series K non-cumulative preference shares of US$0.01 each.
At 31 December 2007, there were 100 registered shareholders of Series F ADSs, 63 registered shareholders of Series H ADSs, 25 registered shareholders of Series L ADSs, 1 registered shareholder of Series M ADSs, 47 registered shareholders of Series N ADSs, 55 registered shareholders of Series P ADSs, 17 registered shareholders of Series Q ADSs, 1 registered shareholder of Series R ADSs, 1 registered shareholder of Series S ADSs, 23 registered shareholders of Series T ADSs and 1 registered shareholder of Series U ADSs.
PROs
On 20 August 2001, the company issued US$1.2 billion of perpetual regulatory tier one securities ('PROs') in connection with a public offering in the United States. The PROs are listed on the NYSE.
ADSs representing ordinary shares
On 17 October 2007, the company listed ADSs, each representing one ordinary share, nominal value 25p each (or a right to receive one ordinary share), and evidenced by an ADR or uncertificated securities, on the NYSE. On the same day, trading commenced on a 'when issued' basis and on 18 October 2007, regular trading commenced. As of 31 December 2007, 62.9 million ADSs were outstanding. The ADSs were issued in connection with the company's bid for the outstanding share capital of ABN AMRO Holding N.V.
The ADSs described in the above paragraph were issued pursuant to a Deposit Agreement, among the company, The Bank of New York Mellon, as depositary, and all owners and holders from time to time of ADSs issued thereunder. The ordinary shares of the company are listed and traded on the London Stock Exchange. All ordinary shares are deposited with the principal London office of The Bank of New York Mellon, as custodian for the depositary.
The following table shows, for the periods indicated, the high and low sales prices for each of the outstanding ADSs representing non-cumulative dollar preference shares and PROs, as reported on the NYSE composite tape:
| Figures in US$ | Series F ADSs |
Series H ADSs |
Series L ADSs |
Series M ADSs |
Series N ADSs |
Series P ADSs |
Series Q ADSs |
Series R ADSs |
Series S ADSs |
Series T ADSs |
Series U ADSs |
PROs (1) | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| By month | |||||||||||||
| January 2008 | High | 25.55 | 25.15 | 22.20 | 24.12 | 24.00 | 23.85 | 24.83 | 23.52 | 24.66 | 25.50 | 105.61 | 107.55 |
| Low | 24.50 | 24.21 | 18.80 | 20.88 | 20.54 | 20.10 | 21.80 | 19.90 | 21.39 | 24.00 | 101.72 | 104.13 | |
| December 2007 | High | 25.54 | 25.10 | 20.66 | 22.44 | 22.12 | 21.99 | 23.69 | 21.50 | 22.75 | 25.22 | 102.81 | 106.64 |
| Low | 23.60 | 22.70 | 17.90 | 19.68 | 19.50 | 19.25 | 20.71 | 18.96 | 20.26 | 22.61 | 98.34 | 100.49 | |
| November 2007 | High | 25.75 | 25.25 | 20.89 | 23.01 | 22.81 | 22.60 | 24.52 | 21.93 | 23.30 | 25.25 | 104.94 | 109.95 |
| Low | 25.25 | 22.77 | 18.44 | 20.19 | 20.14 | 19.94 | 21.30 | 19.44 | 20.73 | 23.35 | 101.16 | 103.08 | |
| October 2007 | High | 25.85 | 25.50 | 21.34 | 23.23 | 23.10 | 22.89 | 24.80 | 22.54 | 24.11 | 25.48 | 107.98 | 109.95 |
| Low | 25.25 | 24.98 | 20.76 | 22.57 | 22.50 | 22.21 | 24.26 | 21.78 | 23.52 | 25.00 | 103.43 | 105.90 | |
| September 2007 | High | 25.60 | 25.60 | 21.98 | 23.98 | 23.82 | 23.37 | 25.03 | 22.85 | 24.49 | 25.10 | – | 112.14 |
| Low | 25.25 | 24.95 | 20.67 | 22.22 | 21.98 | 21.76 | 23.49 | 21.20 | 22.77 | 24.95 | – | 104.94 | |
| August 2007 | High | 25.90 | 25.52 | 21.91 | 24.54 | 23.87 | 23.49 | 25.24 | 23.25 | 25.20 | – | – | 111.88 |
| Low | 25.34 | 25.00 | 20.30 | 22.90 | 22.93 | 22.45 | 24.20 | 21.76 | 23.22 | – | – | 108.28 | |
| By quarter | |||||||||||||
| 2007: Fourth quarter | High | 25.85 | 25.50 | 21.34 | 23.23 | 23.10 | 22.89 | 24.80 | 22.54 | 24.11 | 25.48 | 107.98 | 109.95 |
| Low | 23.60 | 22.70 | 17.90 | 19.68 | 19.50 | 19.25 | 20.71 | 18.96 | 20.26 | 22.61 | 98.34 | 100.49 | |
| 2007: Third quarter | High | 26.23 | 25.60 | 22.23 | 24.60 | 24.30 | 24.14 | 25.88 | 23.55 | 25.20 | 25.10 | – | 112.88 |
| Low | 25.25 | 24.95 | 20.30 | 22.22 | 21.98 | 21.76 | 23.49 | 21.20 | 22.77 | 24.95 | – | 104.94 | |
| 2007: Second quarter | High | 26.50 | 25.78 | 24.36 | 25.88 | 25.67 | 25.78 | 26.40 | 25.35 | 25.00 | – | – | 118.15 |
| Low | 25.39 | 25.10 | 21.80 | 24.10 | 23.81 | 23.51 | 24.95 | 23.30 | 24.75 | – | – | 110.17 | |
| 2007: First quarter | High | 25.76 | 25.85 | 24.75 | 25.99 | 25.75 | 25.83 | 26.91 | 25.50 | – | – | – | 122.07 |
| Low | 25.26 | 25.21 | 24.02 | 25.50 | 25.35 | 25.25 | 26.08 | 24.79 | – | – | – | 115.81 | |
| 2006: Fourth quarter | High | 26.73 | 25.95 | 24.62 | 26.08 | 25.96 | 26.07 | 26.76 | – | – | – | – | 121.54 |
| Low | 25.29 | 25.17 | 23.80 | 25.23 | 25.21 | 24.91 | 25.97 | – | – | – | – | 114.47 | |
| 2006: Third quarter | High | 26.91 | 25.75 | 24.08 | 25.44 | 25.30 | 25.33 | 26.24 | – | – | – | – | 117.81 |
| Low | 25.58 | 25.16 | 21.71 | 24.05 | 23.69 | 23.64 | 25.08 | – | – | – | – | 106.96 | |
| 2006: Second quarter | High | 26.07 | 25.49 | 23.39 | 25.03 | 25.04 | 24.70 | 25.55 | – | – | – | – | 114.90 |
| Low | 25.45 | 25.01 | 21.15 | 23.58 | 23.32 | 22.76 | 24.67 | – | – | – | – | 106.06 | |
| 2006: First quarter | High | 27.25 | 25.78 | 24.50 | 25.62 | 25.60 | 25.35 | – | – | – | – | – | 122.23 |
| Low | 25.72 | 25.25 | 23.09 | 25.08 | 25.10 | 24.72 | – | – | – | – | – | 114.75 | |
| By year | |||||||||||||
| 2007 | High | 26.50 | 25.85 | 24.75 | 25.99 | 25.75 | 25.83 | 26.91 | 25.50 | 25.20 | 25.48 | 107.98 | 122.07 |
| Low | 23.60 | 22.70 | 17.90 | 19.68 | 19.50 | 19.25 | 20.71 | 18.96 | 20.26 | 22.61 | 98.34 | 100.49 | |
| 2006 | High | 27.25 | 25.95 | 24.62 | 26.08 | 25.96 | 26.07 | 26.76 | – | – | – | – | 122.23 |
| Low | 25.29 | 25.01 | 21.15 | 23.58 | 23.32 | 22.76 | 24.67 | – | – | – | – | 106.06 | |
| 2005 | High | 28.00 | 26.19 | 24.99 | 26.75 | 26.23 | 25.50 | – | – | – | – | – | 129.57 |
| Low | 26.02 | 25.20 | 22.67 | 24.77 | 24.70 | 24.60 | – | – | – | – | – | 116.70 | |
| 2004 | High | 28.45 | 25.87 | 24.68 | 26.16 | – | – | – | – | – | – | – | 125.14 |
| Low | 25.65 | 24.45 | 23.51 | 25.13 | – | – | – | – | – | – | – | 110.58 | |
| 2003 | High | 29.05 | 26.40 | – | – | – | – | – | – | – | – | – | 130.78 |
| Low | 27.03 | 25.10 | – | – | – | – | – | – | – | – | – | 111.06 | |
| Note: | |||||||||||||
| (1) Price quoted as a % of US$1,000 nominal. | |||||||||||||
Ordinary shares
The following table shows, for the periods indicated, the high and low sales prices for the company's ordinary shares on the London Stock Exchange, as derived from the Daily Office List of the UK Listing Authority:
| Figures in £ | Ordinary shares | |
|---|---|---|
| By month | ||
| January 2008 | High | 4.4250 |
| Low | 3.4275 | |
| December 2007 | High | 4.9000 |
| Low | 4.2425 | |
| November 2007 | High | 4.9875 |
| Low | 3.9725 | |
| October 2007 | High | 5.6950 |
| Low | 5.0200 | |
| September 2007 | High | 5.8350 |
| Low | 5.0850 | |
| August 2007 | High | 5.9900 |
| Low | 5.4300 | |
| Figures in £ | Ordinary shares | |
|---|---|---|
| By quarter | ||
| 2007: Fourth quarter | High | 5.6950 |
| Low | 3.9725 | |
| 2007: Third quarter | High | 6.4250 |
| Low | 5.0850 | |
| 2007: Second quarter | High | 6.9000 |
| Low | 6.2300 | |
| 2007: First quarter | High | 7.1900 |
| Low | 6.5100 | |
| 2006: Fourth quarter | High | 6.6600 |
| Low | 6.0800 | |
| 2006: Third quarter | High | 6.1200 |
| Low | 5.5600 | |
| 2006: Second quarter | High | 6.2500 |
| Low | 5.5900 | |
| 2006: First quarter | High | 6.4400 |
| Low | 5.6700 |
| Figures in £ | Ordinary shares | |
|---|---|---|
| By year | ||
| 2007 | High | 7.1900 |
| Low | 3.9725 | |
| 2006 | High | 6.6600 |
| Low | 5.5600 | |
| 2005 | High | 6.1000 |
| Low | 5.0700 | |
| 2004 | High | 5.8700 |
| Low | 4.8800 | |
| 2003 | High | 5.9300 |
| Low | 4.1200 |
On 26 February 2008, the closing price of shares on the London Stock Exchange was £4.135, equivalent to $8.17 per share translated at the Noon Buying Rate of $1.9747 per £1.00 on 26 February 2008.
ADSs
The following table shows, for the periods indicated, the high and low sales prices for the company's ordinary ADSs, as reported on the NYSE composite tape:
| Figures in US$ | ADSs | |
|---|---|---|
| By month | ||
| January 2008 | High | 8.90 |
| Low | 7.50 | |
| December 2007 | High | 10.26 |
| Low | 8.64 | |
| November 2007 | High | 10.58 |
| Low | 8.43 | |
| October 2007 | High | 11.30 |
| Low | 10.50 |
| Figures in US$ | ADSs | |
|---|---|---|
| By quarter | ||
| 2007: Fourth quarter | High | 11.30 |
| Low | 8.43 |
| Figures in US$ | ADSs | |
|---|---|---|
| By year | ||
| 2007 | High | 11.30 |
| Low | 8.43 |
On 26 February 2008, the closing price of ordinary ADSs on the New York Stock Exchange was $8.34.
