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HSBC ANNOUNCES CANCELLATION OF NON-VOTING DEFERRED SHARES
Hamilton, Bermuda – 29 December, 2010 – In a filing to the Bermuda Stock Exchange, HSBC Holdings plc (the “Company”; Ticker: HSBC.BH) has released a market announcement.
“As part of a technical internal capital reorganisation necessitated by the amended EU Capital Requirements Directive 2, which will apply from 31 December 2010, HSBC Holdings plc will cancel its 301,500 non-voting deferred shares of £1 each, which are currently held by a wholly owned subsidiary.
To facilitate the cancellation of the deferred shares and comply with the provisions of the Companies (Authorised Minimum) Regulations 2009 the Company has issued one Series A Sterling Preference Share of £0.01 for £1.00.
None of the above has an impact on the Company’s reported Tier 1 capital ratio, which at 30 September 2010 was 12.1%.”
By order of the Board
R G Barber
Group Company Secretary
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,000 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,418 billion at 30 June 2010, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’.