RBS and THAT loan extension

[DonaldDonaldson]

Yes, they did, but maybe they (RBS) assumed SOS are in the minority in wanting them out, such was the apathy they were faced with at times

 

You seem to be suggesting that RBS are giving the loan extension due to possible hostility from fans if they don't, yet how could a hostile reaction be anticiapated from fans who are apathetic? If there was a big uprising against the sentiment of the open letter, then I could understand RBS feeling there might be trouble in store, but if people aren't/weren't arsed, where would the trouble be coming from?

[drewy]

We should fuckin' go for this lads, on a personal level I've fucked off my mortgage, current/ savings account and my house/car insurance with RBS making my objections known as far up the ladder as possible.

 

I got a phone call from a senior manager in Scotland after one of my complaints who in as many words said the whole group was very worried (don't forget Natwest) about their continued involvement with Kop holdings and the fans reaction.

 

Forceful and meaningful dialogue coupled with direct action is required to finally rid us of these termites.

[Royal Family]

Could Chris Bascombe possibly find details through a finance colleague of, first of all, if this is all bang on the money and if so whose ear needs to be bent at RBS?

 

That made me laugh, mr leeson! A finance colleague at The News of the World?! Their idea of high finance is a night at the local Gala bingo!

[Guest Ulysses Everett McGill]

Yeah, fair enough I didn't see that bit in there but apologies if I'd missed it.

 

So, has this been verified and if so, with such a short amount of time to work in, does anyone know which is going to lend the most weight?

 

Do we need as many numbers as possible behind it (such as petitions or an advert or something) or the backing of someone in a position to get themselves heard by the person at this dinner and their colleagues?

 

Gaz, I've been sitting on this for over a week whilst, it's been checked and re-checked

 

I'm not interested in all that insider shite, and was considering not doing anything, but if there is even a small chance to make a difference, it's worth a shot

 

Right?

 

Before that extension is signed, anything is possible

 

Whatever your reservations about SOS, if they choose to take this up, we need to get behind it

[Nick Leeson]

That made me laugh, mr leeson! A finance colleague at The News of the World?! Their idea of high finance is a night at the local Gala bingo!

The Times, The News of the World, whoever they're all under the same umbrella, they all eat in the same canteen and they all get ripped off by the same vending machine.

 

Surely someone can y'know, reach out.

[Dan Vito Corleone]

Let's do this.

[Guest Ulysses Everett McGill]

You seem to be suggesting that RBS are giving the loan extension due to possible hostility from fans if they don't, yet how could a hostile reaction be anticiapated from fans who are apathetic? If there was a big uprising against the sentiment of the open letter, then I could understand RBS feeling there might be trouble in store, but if people aren't/weren't arsed, where would the trouble be coming from?

 

Obviously they aren't just giving the loan because of fear of a hostile reaction, but they are wary of it.

 

As I said, I wasn't there, but I've done all I can to check the story is correct before I posted it.

[Nick Leeson]

Gaz, I've been sitting on this for over a week whilst, it's been checked and re-checked

 

I'm not interested in all that insider shite, and was considering not doing anything, but if there is even a small chance to make a difference, it's worth a shot

 

Right?

 

Before that extension is signed, anything is possible

Yeah I wasn't saying you were but if the answer is to get someone with a profile to help us out and this didn't turn out to be 100% then they could end up looking a tit, which wouldn't make it easy if we needed some backing in the future and also doesn't help any future campaigns if we look like we've gone off half-cocked. I wasn't suggesting for a second that you had any alterior motives, just that if effort is put into action, that we know that the potential for a result is real.

 

I'm not really arsed about wasted effort because with this cause no effort is a wasted one but if we do assistance from someone with a face or a name then we do need to make sure we don't make them look like mugs as it could have an impact on anyone helping us out in the future with other causes we have to fight.

[coop]

Whilst im confident there would be a buyer if the price dropped it is a scary thought of the club going into administration instead.

[DonaldDonaldson]

Obviously they aren't just giving the loan because of fear of a hostile reaction, but they are wary of it.

 

As I said, I wasn't there, but I've done all I can to check the story is correct before I posted it.

 

I'm not arguing with you; I'm just trying to get a notion of why RBS feel some sort of pressure from the fanbase to extend the loan.

 

Maybe they know we want the yanks out, but think the most likely outcome of not granting the extension would be administration as potential suitors may just wait it out until the price hits rock bottom, even if we are saddled with a ten point deduction, and RBS feel they would incur our wrath for us being docked 10 points before a ball is kicked and be looking at the possibilty of selling our best players.

[Guest Ulysses Everett McGill]

I'm not arguing with you; I'm just trying to get a notion of why RBS feel some sort of pressure from the fanbase to extend the loan.

 

Maybe they know we want the yanks out, but think the most likely outcome of not granting the extension would be administration as potential suitors may just wait it out until the price hits rock bottom, even if we are saddled with a ten point deduction, and RBS feel they would incur our wrath for us being docked 10 points before a ball is kicked and be looking at the possibilty of selling our best players.

 

 

You have to ask the question why the details of the agreement were leaked to the Sundays in the first place before being signed, it's certainly of no benefit to the Americans for it to be out in the public domain.

[Guest Ulysses Everett McGill]

Whilst im confident there would be a buyer if the price dropped it is a scary thought of the club going into administration instead.

 

 

Personally, I'd happily take a 10 point hit for one season, not that I think it would get that far

[coop]

The problem you face however in putting pressure on RBS is many fans would prefer the current owners to get an extension rather then see us go into administraion and potentially get docked points, sell players etc.

 

If a buyer was to let there interest known however then that would be a different story.

[Nick Leeson]

There's no way we'd end up in administration. Rich people/companies are still out there, shitloads of them; they're just scrutinising deals a bit more closely now than they were doing before. LFC at RBS sale price is deal of the fucking decade and there'd be a huge fucking queue for it.

[loco74]

Right, that's me done i think i'll try and fuck my mint credit card off and when they come on the bounce say i'm protesting!!!

 

On a serious note doesn't any refinancing have to be agreed with the government as after the bailout they are majority shareholders? Wouldn't this have an effect, almost making it a political decision?

[loco74]

Right, that's me done i think i'll try and fuck my mint credit card off and when they come on the bounce say i'm protesting!!!

 

On a serious note doesn't any refinancing have to be agreed with the government as after the bailout they are majority shareholders? Wouldn't this have an effect, almost making it a political decision?

[DonaldDonaldson]

Who would tell RBS that LFC fans would smash their joints up on refusal of the finance?

 

People actually believed GG when he said he'd had real, believable death threats. He's a snake like the one with the eyes in Jungle Book; he hypnotises people. And the two owners together, with their various consultants, won't have trouble spinning a lie to someone who only watches sport at Twickers or Lords.

 

That type of person sees a letter from SoS in isolation as no different to a letter from some woman who will now have to get two buses to cash her pension cheque.

 

Might be worth writing to some of the other business pages of the papers, because if this starts spreading the right way at the right time there'll be a rush on.

 

I can easily imagine a snide as highly accomplished and polished as that fucking munchkin adding a healthy dose of poison to the mix; I just couldn’t see the apathy of fans being in the mix as a catalyst for potential outrage.

[Dan Vito Corleone]

We'd be snapped up well before administration.

[Section_31]

There's always that little bit of neverland between everything being hunky-dory and actual administration.

 

That's when rescue packages are announced and compromises met that try to be better for all concerned.

 

I personally think we'd be rescued before we went into administration. I think we'd have a price that fitted a lot more budgets.

 

And there would also be a deadline, so no fucking about like we had for the first half of last year.

 

Worrying stuff this IMO.

 

In the past, there's been Dubai/Kuwait based groups with serious cash and serious plans behind them already waiting in the wings. Push the yanks out now, and who do we 'hope' comes in before the worst happens? Some hotch-potch cobbled together conglomerate which has been forged at the last minute with the intention of taking advantage of a bad situation and making a quick buck? It's like having your house up for sale, and having to choose between someone who's been looking at your place for a year and really wants to make a go at it, or some kind of Del Boy/Boycie last minute landlord who fancies throwing up some wall panels and selling you on when the downturn's over.

[drewy]

Right, that's me done i think i'll try and fuck my mint credit card off and when they come on the bounce say i'm protesting!!!

 

On a serious note doesn't any refinancing have to be agreed with the government as after the bailout they are majority shareholders? Wouldn't this have an effect, almost making it a political decision?

 

Are you trying to be funny?

 

As for your second point the goverment have put their own man in place as far as I remember, maybe the CE?

[Lucky Pierre]

The problem you face however in putting pressure on RBS is many fans would prefer the current owners to get an extension rather then see us go into administraion and potentially get docked points, sell players etc.

 

If a buyer was to let there interest known however then that would be a different story.

Just posted this on the offal, and everyone seems to think the best option would be extending the loan.

We'd be snapped up well before administration.

Rogan Taylor and his crew would buy us before that happened...

[Hermes]

We need an owner who has loads of money to spend. Are any MP's Liverpool fans?

[Anubis]

I've pulled as much info as I can off the web but not sure if any of it is of use.

 

Royal Bank of Scotland Group PLC - Senior Executive Changes

 

 

 

Released 07:05 06-May-09

 

6th May 2009

 

RBS Group Announces Further Senior Executive Changes

 

Brian Hartzer to join RBS from ANZ to assume responsibility for UK Retail, Wealth and Ulster Bank business divisions

 

Paul Geddes, currently CEO of UK Retail, to join the Executive Committee as CEO of RBS Insurance

 

Chris Sullivan, currently CEO of RBS Insurance, to become CEO of UK Corporate Banking Division

 

RBS is pleased to announce a number of changes and new appointments to the Group's Executive Committee (Exco). Once these have taken effect, together with the pending change of Chief Financial Officer announced yesterday, all 9 members of the Group's Exco will be new to their posts within the last 14 months, 7 since October of last year. This will complete the management restructuring at this level though further changes will continue elsewhere in the Group. These appointments complement the new strategic direction for RBS set out in February and, once bedded down, will help underpin its implementation.

 

Brian Hartzer will join RBS and take over responsibility from Gordon Pell as Executive Committee member responsible for the UK Retail, Wealth and Ulster Bank business divisions. These important businesses rank respectively 2nd, 1st and 3rd in their markets. Brian joins from Australia and New Zealand Banking Group Ltd. (ANZ) where he was Chief Executive Officer - Australia and Global Segment Lead for Retail, since October 2008. Brian had been directly responsible for the Retail, SME, and Wealth businesses since 2004, during which time ANZ increased profit in these businesses by 50% and improved its market share of Australian Retail customers from 4th to 2nd position overall as well as being recognised as having the best customer service of any bank in Australia. Gordon Pell will retain the position of Deputy Chief Executive of RBS through the transition period until his retirement, as previously announced, early next year.

 

Paul Geddes will join the Group's Exco as CEO of RBS' market leading general insurance businesses. He currently runs the UK Retail business reporting to Gordon Pell. Paul became CEO of the Retail business in December 2006, driving a successful period for the division - growing income and strengthening market share and customer satisfaction. That business will now report directly to Brian Hartzer.

 

Chris Sullivan, currently CEO of RBS Insurance, will take over from Alan Dickinson to become CEO of the UK Corporate Banking Division (including the SME franchise). The Group's Global Transaction Services division run by Brian Stevenson will also report to him. These businesses hold market positions of 1st in the UK and 5th worldwide respectively. Chris Sullivan has overseen considerable success for RBS Insurance since November 2006 including a record performance in 2008. His background prior to that was in RBS' UK Retail and Corporate businesses. Alan Dickinson will stay on as Chairman of the Division assisting the transition until he retires as planned early next year.

 

Further to the February announcement of his appointment as Head of Risk and Restructuring (including RBS' new 'Non Core' Division and the pending Asset Protection Scheme portfolio), Nathan Bostock will join from Abbey National to take up his role on 1st June.

 

 

 

Stephen Hester, RBS Group Chief Executive commented:

 

"I am extremely pleased to have been able to move rapidly to assemble a strong leadership team. We have many challenges ahead but really great businesses on which to build. As ever, people are the key to making ambitious strategy a reality. The journey to standalone strength is a 3-5 year one, with tough restructuring to execute against an inclement economic backdrop. I am, however, increasingly confident that we have assembled the 'tools' to do the job.

 

"We welcome Brian Hartzer to RBS. He is very highly regarded as a retail banker and he will fit into our team very well. We are excited to have him. It is also great to have two excellent internal candidates for major divisional portfolios. Chris and Paul have impressed me since we began working together in recent months and are well suited for their new roles. I am exceptionally grateful to Gordon and Alan for their crucial stewardship and look forward to their continued counsel over the transition period."

 

NOTES TO EDITORS

 

The changes outlined above are expected to take effect from 31st July subject to regulatory clearance.

 

Brian Hartzer is 42 years old, a joint US and Australian citizen and is married with 4 young children. A Princeton graduate. He joined ANZ in 1999 to run their Consumer Finance business (credit cards, merchant services and personal loans) until 2004. He then took over the full Retail bank portfolio (including SME and Wealth) and in 2008 added the role of Chief Executive Australia for all ANZ business lines, as well as Global Segment Lead for Retail. Prior to joining ANZ Brian was a financial services consultant in New York, San Francisco and Melbourne for 10 years.

 

Paul Geddes joined RBS in 2004 as Managing Director, Marketing & Strategy, Retail Banking and now holds the position of CEO, Retail Banking, responsible for around 30,000 people serving over 12m customers. He graduated from Oxford University and started his career with Procter & Gamble in the UK and Europe. From 1997 he worked for Kingfisher plc as Head of Marketing at Superdrug, then Marketing Director of Comet when he also ran the Comet Direct franchise. In 2001, Paul joined the board of Argos as Marketing Director, also running the award winning online business Argos.co.uk. During this time Argos doubled profit, added 50% to sales and won awards for marketing, eCommerce and in 2003 was named Retailer of the Year.

 

Chris Sullivan was appointed the CEO of RBS Insurance in November 2006. His previous role at RBS was as Chief Executive of Retail and Deputy Chief Executive of Retail Markets. Prior to this, Chris was Chief Executive of RBS Group's UK and European businesses in cards and consumer finance, primarily delivered through the direct delivery channels. In 1993, Chris became the National Sales Director for Lombard Business Finance, moving on to become Managing Director and later Chief Executive of Lombard Group. The other members of RBS' Executive Committee not mentioned above are;

 

- Stephen Hester - Chief Executive Officer, took up his post on 21st November 2008)

 

- John Hourican - Head of Global Banking and Markets, took up his post on 1st November 2008

 

- Ellen Alemany - Chairman (since March 2009) and CEO (since March 2008) of Citizens

Financial Group and Head of RBS Americas (since March 2007).

 

- Ron Teerlink - Chief Administration Officer (since February 2009) having been CEO of

Manufacturing Division (since April 2008)

 

- Guy Whittaker - Chief Financial Officer (departure announced on 5th May 2009)

 

 

 

For further information contact:

 

Andrew Wilson, Head of Group Corporate Affairs

 

+44 131 626 4022

 

+44 7810 636995

 

 

 

 

Neil Moorhouse, Head of Group Media Centre

 

+44 131 523 4414

 

+44 7786 690029

 

 

 

END

 

 

 

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RBS - Home

 

23rd January 2007

 

Mr. John C. Dugan

Comptroller of the Currency, OCC

250 E. Street, SW

Washington, DC 20219

[12 CFR Part 3; Docket No. 06-10

RIN 1557-AC99]

Mr Ben S. Bernanke

Chairman, FED

20th Street and Constitution Avenue, NW

Washington, DC 20551

[12 CFR Parts 208 and 225;

Regulation H and Y; Docket No. R-1266]

Ms. Sheila C. Bair Chairman, FDIC 550 17th Street, NW Washington, DC 20429 [12 CFR Part 325; RIN3064-AD10]

Mr. John C. Reich Director, OTS 1700 G Street, NW Washington, DC 20552 [12 CFR Part 566; Docket No. 2006-34; RIN 1550-AC02]

Dear Sirs and Madam,

NOTICE OF PROPOSED RULE-MAKING (NPR) - Risk-Based Capital Standards: Market Risk

Thank you for the opportunity to comment on your proposals for implementing the Market Risk NPR within the United States.

Our response, that reflects the views of RBS, Citizens Financial Group and Greenwich Capital Markets, is outlined in the attached appendix. In addition, we have contributed to the response being submitted by the Institute of International Finance (IIF).

We hope that these comments are instructive in taking forward implementation of the new Market Risk NPR in the United States. If you have any questions, please do not hesitate to contact me.

 

Yours faithfully,

Richard Wild signature

Richard Wild

Head of Basel 2 and Group Risk Operations

Group Risk Management, Royal Bank of Scotland Group

c.c. Bob Gormley, Citizens Financial Group Steve Farrall, Head of Group Market Risk Stuart Kessler, Head of Finance, Greenwich Capital Markets

 

 

 

Group Treasury

5th Floor

280 Bishopsgate

London, EC2M 4RB

 

Telephone: +44 (0)20 7085 6617

Facsimile: +44 (0)20 70856593

Ron.Huggett@rbs.com

 

Basel Committee on Banking Supervision

Bank for International Settlements

Centralbahnplatz 2

CH-4002 Basel

Switzerland

 

Principles for Sound Liquidity Risk Management and Supervision

The Royal Bank of Scotland welcomes the opportunity to respond to the above-named paper which was published on June 17th 2008.

Our detailed comments are set out on the following pages but in summary we are in broad agreement with the principles set out in the paper. In summary the process is fourfold:

• A bank must be able to readily determine its contractual liquidity position.

• A bank should then overlay that view with assumptions about normal behaviour

• It should then undertake stress testing by reviewing how the normal assumptions change under the various stress scenarios.

• Given the results of the stress tests the bank can assess its current level of liquidity provision, establish the cost of contingency arrangements and compare that cost of insurance and the associated liquidity risk levels to its risk appetite and profitability goals.

With this information available, the Board can agree with senior management the strategy the bank is to adopt.

The BIS principles support this approach and we believe they will assist financial institutions, regulators and central banks to maintain robust liquidity policies, procedures and systems in both normal times and in times of stress.

If you have any questions on our submission please contact my self or Bill Rickard (+44 (0)20 7085 6387 (bill.rickard@rbs.com)

 

Yours faithfully

Ron Huggett,

Deputy Group Treasurer

Royal Bank of Scotland Group The Royal

 

 

 

ROYAL BANK OF SCOTLAND GROUP PLC

(Report of Foreign Issuer)

Filed 8/18/2005 For Period Ending 8/18/2005

 

Address PO BOX 31 42 ST ANDREW SQUARE

EDINBURGH SCOTLAND, EH2 2YE

Telephone 442077144467

CIK 0000844150

Industry Money Center Banks

Sector Financial

Fiscal Year 12/31

 

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the month of August 2005

Commission File Number: 001-10306

 

The Royal Bank of Scotland Group plc

42 St Andrew Square

Edinburgh EH2 2YE

Scotland

 

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):_________

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):_________

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to

the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________

The following information was issued as Company announcements, in London, England and is furnished pursuant to General Instruction B to

the General Instructions to Form 6-K: ________

RBS announces formation of strategic partnership with Bank of China

RBS and Bank of China are pleased to announce that they have reached agreement to establish an exclusive strategic

partnership. Within this partnership:

RBS and Bank of China have agreed to co-operate across a range of business activities, building on Bank of China's distribution

strength and RBS's product skills in areas including credit cards, wealth management, corporate banking and personal lines insurance.

In addition, the two banks will establish close co-operation in certain key operational areas, including corporate governance, risk

management, financial management, human resources and information technology. RBS will nominate a director to sit on the Board of

Bank of China.

RBS will lead an investment of 10% in Bank of China for $3.1 billion (£1.7 billion). Within this, RBS itself will invest $1.6 billion

(£0.9 billion). RBS and its co-investors have committed to retain their investment in Bank of China for three years. RBS has no plan to

increase its investment in Bank of China.

Appropriate warranties and protections have been received

The transaction is subject to regulatory approvals

Bank of China

Bank of China, the second largest of China's big four banks, was established in 1912. It traditionally focused on traderelated

activities such as trade finance and foreign exchange, where it still has leading market shares. In 1994, Bank of

Form 20-F X Form 40-F

Yes No X

China was converted from a specialised trade bank to a broadly-based state-owned commercial bank.

In Mainland China, Bank of China has 11,307 branches and market shares of 12% of loans and 14% of deposits. Bank

of China has branches throughout Mainland China, but its activities are concentrated in the large cities in eastern China.

Bank of China's brand appeals in particular to affluent personal customers and large corporate customers.

Bank of China is the most internationalised bank in China. It has subsidiaries in 27 countries including a strong

presence in Hong Kong, where its subsidiary Bank of China Hong Kong has already been restructured and partially

floated. The value of the 66% of Bank of China Hong Kong owned by Bank of China is $14.8 billion.

In 2004, Bank of China's total income was $12.6 billion. At the end of 2004, its assets amounted to $516 billion and its

net asset value stood at $24.8 billion. Income, assets and net asset value are stated on a PRC GAAP basis. Bank of

China has about 238,000 employees.

Over the last 4 years, Bank of China has grown its loans and deposits by 11% per annum.

In August 2004, Bank of China was re-established as a shareholding company, with 100% of its shares owned by

Central SAFE Investments Limited.

More information about Bank of China is available on ÖйúÒøÐÐÈ«ÇòÃÅ»§ÍøÕ¾.

Commenting on the transaction, RBS Chairman, Sir George Mathewson, said:

"The RBS Board believes that the size and growth of China represents an important opportunity. We have been

developing our relationship with Bank of China over the last 18 months, and have been impressed by the strengths of

the business and its compatibility with RBS. We regard our investment as an important part of cementing our long-term

relationship with Bank of China but have no plans to increase our shareholding further. The combination of Bank of

China's brand, distribution and customer base with RBS's product and operational strengths and experience will be

powerful in the Chinese market. We are excited by the potential of this partnership and look forward to working

together in the years to come to realise it."

Bank of China Chairman, Xiao Gang said:

"I am delighted that an investment agreement has been reached with RBS. With its experienced management,

outstanding business strengths, well-established internal control mechanisms and prudent management style, RBS is an

ideal partner. The co-operation with RBS is a key step in our joint stock reform, and is crucial to transforming the

operational structure, enhancing the internal management, improving the competitiveness and promoting our

profitability."

Mr Wang Jianxi, Vice Chairman of Central SAFE Investments Limited, the major shareholder of Bank of China, said:

"Bringing in international strategic investors is an important step in the deepening of the reform of state-owned

commercial banks in China. Through strategic co-operation with RBS, Bank of China will be able to further enhance

its corporate governance and internal control. We are confident that the strategic cooperation between Bank of China

and RBS will produce positive results for both parties."

Impact on RBS

RBS will raise the £0.9 billion for its investment in Bank of China through the disposal for £0.9 billion of its

shareholding in SCH, which it has announced today. The placement of the SCH shareholding together with the

investment in Bank of China will result in no net change in total capital. There will be an increase of around 0.1% in

RBS's Tier 1 capital as a result of the profit on the SCH shares sold.

The transaction with Bank of China is expected to be completed by the fourth quarter of 2005. RBS expects its Tier 1

ratio to exceed 7% at the end of 2005 on an IFRS basis (compared with 6.6% at 30 June 2005).

The transaction is expected to exceed our hurdle rate and be accretive from 2006.

Merrill Lynch International has advised RBS on this transaction.

For further information

 

Investor Relations

Richard O'Connor +44 207 672 1758

 

Media Relations

Carolyn McAdam +44 131 523 2055

+44 7796 274968 (mobile)

 

There will be a conference call for the wires media only at 0800 UK time

The live dial-in number is +44 207 026 5971

The replay number will be +44 207 784 1024; replay passcode 6047684# (available shortly after the end of the

conference call)

There will be a conference call for analysts only at 0900 UK time

UK dial-in number is +44 207 026 5971

UK Toll Free 0800 028 7843

US Toll +1 718 354 1193

US Toll Free 1888 893 9532

The replay number will be +44 207 784 1024; replay passcode 5474109# (available shortly after the end of the

conference call)Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the

undersigned, thereunto duly authorized.

Date: 18 August 2005

THE ROYAL BANK OF SCOTLAND

GROUP plc (Registrant)

By: /s/ H Campbell

Name:

Title:

H Campbell

Head of Group Secretariat

End of Filing

© 2005 | EDGAR Online, Inc

[Hermes]

 

 

The gyst of the reply was that RBS are inclined to offer the current owners of the club an extension, principally because they don't want to be the bank who might have to put LFC into administration

 

Oh, right. So let's force them to do it. A points deduction for next season is exactly what we need.

[Stoney79]

I know what you're saying, the worry for me is that there is someone decent out there ready to pay a reasonable price - but they'll still be outbid by some bastards.

 

There is no point in trying to force a quick-fire sale unless we know there is a suitable custodian out there with the finances at the ready to buy the club and a long term plan. Otherwise we could potentially end up in a similar situation to what we're in now with idiots for owners.