Business Context and Reporting Period
This Form 6-K filing by Lloyds TSB Group plc is dated February 17, 2005. The document serves as a Regulatory News Service (RNS) announcement regarding the notification of director shareholdings and interests in the company's employee share ownership trust.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance and shareholding disclosures rather than financial performance metrics.
Material Changes
The primary material event reported is the transfer of 2,646 ordinary shares (25p each) from the Hill Samuel Offshore Trust Company Limited to individuals who exercised share options. This transfer was executed as compensation for a special dividend of 68.3p per share paid in 1996 to former TSB Group plc shareholders, which was not originally paid to optionholders.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. It is a compliance notification made pursuant to paragraph 16.13 of the listing rules.
Important Facts for Investors
- Share Transfer: 2,646 shares were transferred from the employee share ownership trust to optionholders.
- Compensation Context: The transfer compensates for a 1996 special dividend of 68.3p per share missed by optionholders following the merger with Lloyds Bank Plc.
- Director Interests: Seven directors (J.E. Daniels, M.E. Fairey, A.G. Kane, D.P. Pritchard, G.T. Tate, M.A. van den Bergh, and H.A. Weir) are potential beneficiaries of the trust and are treated as interested in the remaining 1,461,522 shares held by the trust.
- Employee Scope: Approximately 77,000 other employees are also potential beneficiaries of the trust.