ltulzizvlo Mall 7 FW Statement Tor )ourstor)

BUZZ FeeD Tom Warren 

 

FW: statement tor your story
7 October 2016 at 13:24

To. tom.warren@ouzzleed.com~ 

 

Tom -- as dismissed earlier on the phone I have a statement lor you. and attached a more in--depth letter, which 
hopelully provide some clarity lor you.

Sorry to send this so late in the day' but It has been a very busy one.

Many thanks

A HMT Spokesman said:

"These clalms are incorrect and show a complete oi how market abuse regulations work.

"Belore the Government Is able to sell shares It holds in traded banks. it ensures It does not hold any inside
information on the bank and related sectors. consistent with its legal obligations,

"The emails released by HM Treasury shows it lollowed the mles and nobody In the organisation was in possession of
any inside Inlormauon regarding the potential sale or RES shares."

Further inlormation

The inside information trawl prooess explained:

Before HM Treasury is able to carry out share sales ol traded banks. it has to make sure it does not hold
any inside Inlormauon. This is Inlormation not available that could have an impact on the bank whose shares
are belng sold and Its related sectors It does so to ensure it Is not in breach ollaws concerning market abuse,

HMT first identify a sale penod in which to carry out a sale, It will then conduct an 'inside inlormation trawl' to
see it it will be In possession of inside informatlon, "so. a sale will not go ahead.

The trawl IS also carried out amongst other public bodies to check whether they are planning to share insider
information with HMT (which they may do under legal "gateways") and whether they are planning any major
potenually market moving announcements around the planned time oi the sale and that may disadvantage investors.

intps l/mall g. go\ l/Z

lulmzulo Mall 7 FW tor jam slur}

Head cl Strategic Communicalions HM Treasury --

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