Business Context and Reporting Period
This Form 6-K filing by Lloyds TSB Group plc, dated March 2, 2006, serves as a Regulatory News Service Announcement. The document discloses transactions involving directors and persons discharging managerial responsibilities (PDMR) in accordance with UK Disclosure Rules (DR 3.1.4R(1)) and Section 324 of the Companies Act 1985. The specific transaction reported occurred on February 27, 2006.
Key Financial Metrics
The filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. It is strictly a disclosure of shareholding changes.
- Transaction Type: Exercise of senior executive share options and subsequent transfer of shares.
- Instrument: Ordinary shares of 25p each.
- Exercise Price: 321p per share.
- Shares Acquired via Exercise: 25,000 shares by Mr. Archibald Gerard Kane.
- Shares Transferred: 12,000 shares transferred from Mr. Kane to Mrs. D.M. Muirhead (connected person).
- Post-Transaction Holdings:
- Mr. A.G. Kane: 108,204 shares.
- Mrs. D.M. Muirhead: 12,613 shares.
- Other holdings (Nominees/Trusts): 26,512 shares combined.
- Outstanding Options: Mr. Kane holds options over 1,862,352 shares following this notification.
Material Changes
The filing details a specific increase in share ownership for Mr. Kane and Mrs. Kane resulting from the exercise of options on February 27, 2006. The total percentage holding for the individuals involved is described as "minimal" relative to the issued share class. No other material changes to the company's operations or financial structure are reported in this document.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The document is a statutory notification of a director's share transaction.
Investor Verification Points
- Verify the exercise price of 321p against the market price of Lloyds TSB shares on February 27, 2006, to assess the economic benefit realized by the director.
- Confirm the total number of outstanding options (1,862,352) held by Mr. Kane to understand potential future dilution or selling pressure.
- Review the breakdown of holdings across different accounts (personal, ISA, Trust) to ensure full transparency of beneficial ownership.