April 9, 2014 / 5:31 PM / 4 years ago

BRIEF-RBS says reaches agreement with HMT for future DAS retirement

April 9 (Reuters) - Royal Bank Of Scotland Group Plc :

* Announces an agreement with HMT to provide for future retirement of Dividend Access Share and revised state aid terms

* Retirement of DAS will in future allow board of RBS to state more clearly a dividend policy to existing and potential investors.

* Agreement is a vote of confidence in progress we have made in rebuilding RBS and in our plan for bank’s future

* Need to get on with building an rbs that can earn trust of our customers and help change UK banking for better

* No dividend may be paid on RBS’s ordinary shares unless equivalent dividends are paid on B shares

* Board of RBS considers that DAS Retirement Agreement is fair and reasonable as far as RBS’s shareholders are concerned Source text for Eikon: Further company coverage:

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