barclays-shareholders-take-the-bait

Barclays shareholders take the bait

Barclays shareholders lap up $754 million worth of reserve capital instruments, but the outcome of a forthcoming vote on the investment by Abu Dhabi- and Qatar-based investors is still unclear.
November 19, 2008
Barclays announced yesterday that shareholders had subscribed to the entire ú500 million $754 million worth of reserve capital instruments offered to them, just one day after BarclaysÆ board said it will forego bonuses for 2008 and that all directors will offer themselves for re-election.

In an attempt to appease shareholders, the UK bank on Monday announced a change in its capital-raising plan whereby Qatar Holding and His Highness Sheikh Mansour Bin Zayed Al Nahyan would jointly offer ú500 million of reserve capital instruments RCIs that would then be offered to BarclaysÆ institutional investors.

Barclays yesterday confirmed that the amount had been placed in full with the bankÆs institutional shareholders, but London-based Barclays spokesman Alistair...
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