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Financials

BRIEF-Santander Uk ‍Updates On Ring-Fencing And Part Vii Transfer Scheme​

Feb 6 (Reuters) - Santander Uk Plc:

* UPDATE ON RING-FENCING AND PART VII TRANSFER SCHEME

* SANTANDER UK WILL ALSO BROADLY, TO EXTENT ALLOWED BY LEGISLATION, CONTINUE TO HOLD AND SERVE SANTANDER’S CORPORATE BANKING BUSINESS IN UK

* ABBEY NATIONAL TREASURY SERVICES WILL TRANSFER ALL OF BUSINESS TO EITHER SANTANDER UK OR SLB, SAVE FOR A SMALL PORTFOLIO OF SPECIFIC ASSETS

* CO, ANTS ARE UNDERTAKING SCHEME TO HELP ENSURE THAT SANTANDER UK GROUP WILL, AHEAD OF 1 JAN 2019, BE COMPLIANT WITH RING-FENCING PROVISIONS

* ON 5 FEBRUARY 2018, COURT APPROVED SANTANDER UK’S AND ANTS’ COMMUNICATIONS PLAN IN RESPECT OF SCHEME

* IF SCHEME IS APPROVED AT THAT HEARING, TRANSFERS OF BUSINESS UNDER SCHEME WILL BE EFFECTED IN JULY AND AUGUST 2018 AS SET OUT IN SCHEME

* IF SCHEME IS APPROVED AT HEARING ON JUNE 11, TRANSFERS OF BUSINESS UNDER SCHEME WILL BE EFFECTED IN JULY AND AUGUST 2018 AS SET OUT IN SCHEME Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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