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LONDON - Lloyds Banking Group PLC (LSE:LLOY) has applied to the Financial Conduct Authority and the London Stock Exchange for a block listing of 195 million ordinary shares, according to a press release issued Thursday.
The 10p ordinary shares will be distributed across four employee share plans: 900,000 shares for the Executive Group Ownership Plan 2016, 27.1 million shares for the Long Term Share Plan 2020, 27 million shares for the Share Incentive Plan, and 140 million shares for the Sharesave Scheme 2017.
The shares will be admitted to the Official List and begin trading on the London Stock Exchange upon allotment as part of the company's obligations under these plans. They will rank equally with existing ordinary shares of the company.
Admission of the shares to trading is expected on November 24, 2025.
The block listing mechanism allows companies to issue shares gradually over time without needing to publish a prospectus for each individual issuance, typically used for employee share schemes.
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