Key Developments: Barclays PLC (BARC.L)

BARC.L on London Stock Exchange

22 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Barclays PLC Declares Interim Dividend
Wednesday, 30 Oct 2013 03:00am EDT 

Barclays PLC announced that It will pay a third interim dividend for 2013 of GBP0.01per share on December 13 , 2013 resulting in a GBP0.03 dividend year to date.  Full Article

FERC Sues Barclays PLC In U.S. Court Over Power Market Manipulation-Reuters
Thursday, 10 Oct 2013 09:04am EDT 

Reuters reported that U.S. federal energy regulators said on October 10, 2013 they filed suit in federal court in California against British bank Barclays Plc to recover $435 million in civil penalties for alleged power market manipulation. The U.S. Federal Energy Regulatory Commission (FERC) said it is seeking an order from the court affirming FERC's July 16 order assessing civil penalties against the bank and four of its traders.  Full Article

U.S. Regulator Sues Barclays PLC Others Over Faulty Securities-Reuters
Monday, 23 Sep 2013 10:41pm EDT 

Reuters reported that a U.S. regulator filed lawsuits against Morgan Stanley and eight other banks over the sale of nearly $2.4 billion in mortgage-backed securities to two credit unions that later failed, according to a filing. Morgan Stanley and Morgan Stanley Capital I Inc, Barclays PLC, JPMorgan Chase & Co's unit Bear Stearns, Credit Suisse Group AG, Royal Bank of Scotland Group PLC and UBS AG sold faulty securities to Southwest and Members United corporate credit unions, the National Credit Union Administration (NCUA) said in its complaint. Goldman Sachs Group Inc, Wachovia Corp, a unit of Wells Fargo & Co and Residential Funding Securities LLC, (Ally Securities), also sold faulty securities to Southwest, NCUA said. The NCUA lawsuits filed in the Manhattan district court say the banks made misrepresentations in connection with the underwriting and subsequent sale of the mortgage-backed securities.  Full Article

Barclays PLC Updates On Rights Issue
Wednesday, 4 Sep 2013 08:21am EDT 

Barclays PLC announced on July 30, 2013, as part of its Leverage Plan, an underwritten Rights Issue to raise approximately GBP5.8 billion (net of expenses). Further to such announcement, Barclays announced the expected record time for Ordinary Shareholders for the Rights Issue. It is anticipated that the record time for Ordinary Shareholders' entitlement to participate in the Rights Issue shall be the close of business (London time) on September 13, 2013 (the Record Time). As a result (and as outlined in the announcement of July 30, 2013) Ordinary Shares issued to participants in the new Scrip Dividend Programme who have elected to receive all or any part of their entitlement to the second interim dividend in Ordinary Shares will be issued prior to the Record Time and will therefore be eligible to participate in the Rights Issue.  Full Article

Barclays PLC Decides To Sell Uae Retail Bank After Review; May Impact Up To 280 Employees-Reuters
Tuesday, 3 Sep 2013 06:51am EDT 

Reuters reported that Barclays PLC has decided to sell its retail banking operations in the United Arab Emirates after conducting a review of the business, the British lender said. The potential sale may impact up to 280 employees.  Full Article

Barclays PLC Finance Chief Lucas To Retire Early-Reuters
Tuesday, 13 Aug 2013 05:02pm EDT 

Reuters reported that Barclays PLC's finance director Chris Lucas could leave the bank as early as this week, six months ahead of his scheduled retirement, the Guardian reported on Tuesday, citing health issues. Barclays declined to comment on the report.  Full Article

Barclays PLC Updates On Proposed Rights Issue
Monday, 5 Aug 2013 04:30am EDT 

Barclays PLC announced on 30 July 2013, as part of its Leverage Plan, an underwritten Rights Issue of one New Ordinary Share for every four Existing Ordinary Shares at an Issue Price of GBP1.85 per New Ordinary Share, to raise approximately GBP5.8 billion (net of expenses). Further to such announcement, Barclays announced that it has appointed a number of additional banks (the 'Additional Underwriters and Joint Bookrunners') to the syndicate of banks who have underwritten the Rights Issue. The Additional Underwriters and Joint Bookrunners appointed to the syndicate are ABN AMRO Bank N.V., Banco Santander S.A., BNP Paribas, ING Bank N.V., J.P. Morgan Securities plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove), Mediobanca - Banca di Credito Finanziario S.p.A., Morgan Stanley Securities Limited, RBC Capital Markets and SMBC Nikko Capital Markets Limited. Such appointments have been made on the basis set out in the announcement released on July 30, 2013. Further details of such appointments will be set out in the Prospectus, which is expected to be published in September 2013. Barclays Investment Bank is acting as Global Co-ordinator and Joint Bookrunner, and Credit Suisse, Deutsche Bank, BofA Merrill Lynch and Citi are acting as Joint Bookrunners and Initial Underwriters.  Full Article

Barclays PLC To Raise Funds-Reuters
Tuesday, 30 Jul 2013 02:55am EDT 

Reuters reported that Barclays PLC plans to raise GBP5.8 billion ($8.9 billion) from its shareholders to answer pressure from Britain's regulator for the bank to boost its capital strength and meet another GBP2 billion mis-selling charge. Barclays said it will offer shareholders one new share for every four owned at 185 pence in a rights issue, which offers existing shareholders the right to buy discounted shares first to avoid diluting them. The bank also plans to sell GBP2 billion of bonds that convert into equity or are wiped out if it hits trouble, and shrink its loans.  Full Article

Barclays PLC To Fight $453 Million Power Fine In U.S. Court-Reuters
Wednesday, 17 Jul 2013 11:49am EDT 

Reuters reported that Barclays PLC will contest a record $453 million fine imposed by a U.S. energy regulator against the British bank and four of its power traders, setting up a likely federal court battle. The fines, which were upheld by the Federal Energy Regulatory Commission (FERC) on July 16, 2013, confirm the U.S. energy cop will pursue its market manipulation case to date. For Barclays, the sanction is the latest of a series of scandals that include a $450 million fine by U.S. and UK regulators for rigging global benchmark interest rates last year.  Full Article

Barclays PLC And Barclays Bank PLC Appoints Group Finance Director
Tuesday, 16 Jul 2013 06:30am EDT 

Barclays PLC and Barclays Bank PLC announced that Tushar Morzaria will be appointed as Group Finance Director to succeed Chris Lucas in this role. Chris announced in February 2013 his intention to retire. Mr Lucas will remain on the Board as Group Finance Director and a member of the Executive Committee until his retirement as Group Finance Director on February 28, 2014, at which point Mr Morzaria will take up his responsibilities in full.  Full Article


Barclays facing 38 million pound fine over clients' funds: source

- Britain's financial watchdog will fine Barclays Plc 38 million pounds ($62.16 million) for failing to ensure that customer money was properly safeguarded and adequate records kept, said a source familiar with the situation.

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