halifax - from today's RNS :-

"Further to the 2011 Results News Release published on 24 February 2012, Lloyds Banking Group plc (the "Company") now announces the allotment and issue of 479,297,215 new ordinary shares (the "New Ordinary Shares") of the Company at a subscription price of 35.468597530 pence per New Ordinary Share."

So I guess if you trawl through the recent results, you may find your answer !

Further to the 2011 Results News Release published on 24 February 2012, Lloyds Banking Group plc (the "Company") now announces the allotment and issue of 479,297,215 new ordinary shares (the "New Ordinary Shares") of the Company at a subscription price of 35.468597530 pence per New Ordinary Share.



Based on this subscription price, the gross proceeds of the issue are GBP 170 million. The New Ordinary Shares being issued represent an increase of approximately 0.7 per cent. in the Company's current issued ordinary share capital.



The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company.



Application has been made for the New Ordinary Shares to be admitted to the Official List of the Financial Services Authority and to be admitted to trading by the London Stock Exchange plc on its main market for listed securities (together, "Admission"). Admission is expected to take place, settlement to occur and dealing in the New Ordinary Shares to commence at 8.00 a.m. on 23 March 2012.



Following the share issue referred to above, the total number of shares issued by Lloyds Banking Group plc with rights to vote which are exercisable in all circumstances at general meetings will be 69,431,144,289 ordinary shares of 10 pence each, which includes shares represented by American Depositary Receipts. No shares are held in treasury.

there is more dilution to come the CEO is destoying holders value and will print more shares to make sure the directors do not lose out .
the pension fund managers say nothing that is why pensions are for the stupid people if you are paying into a defered pension you are fools .

70 BILLION SHARES IN ISSUE

skin we understand their RNS but it does not state the reason for allotting such a comparatively small number of shares or to whom the shares are being issued.

halifax - as I said above - if you can be bothered to read the results :-


"Hybrid capital securities coupon payments

Since 31 January 2010, the Group has been prohibited, under the terms of an agreement with the European Commission, from paying discretionary coupons and dividends on certain of its hybrid capital securities. This prohibition ended on 31 January 2012. We recommenced payments on certain hybrid capital securities from 31 January 2012. Future coupons and dividends on these hybrid capital securities will only be paid subject to, and in accordance with, the terms of the relevant securities.

The payments on those of the hybrid capital securities that are not cash-cumulative and which are expected, subject to their terms and conditions, to be paid in 2012 are estimated to amount to approximately £170 million. In the context of recent macro prudential policy discussions, the Board of Lloyds Banking Group has decided to issue new Lloyds Banking Group ordinary shares to raise this amount. The Group has today entered into an agreement with a third-party financial institution in connection with the issue of these new ordinary shares. Such ordinary shares are expected to be issued, subject to market conditions, by the end of April 2012 at a price determined by reference to the volume weighted average price of our ordinary shares in a period prior to their date of issue.

..

skin tks, wonder why they didn't pay the £170m out of reserves.

Going sub 30p?

May regret it but sub 30p was to tempting!

IMS due early May,don't hold your breath!

cunning plan!! as soon as it breaks even get the hell out of town!!

I missed this yesterday - NBNK makes fresh bid for Lloyds branches

the co-op is NOT going to buy the branches unless the gov takes a stake and that is not going to happen. so why have the board of this bank not informed holders .

because their PR department is rubbish.

the investor relations team no less than my cat .
they are a waste of time and money what do they do all day sleep

never mind the pathetic(but costly) tv advertising.

probably they don't know if they should be happy, given slight improvement in economic conditions in the UK and the likelihood of gaining more by keeping the branches, or unhappy as a result of co-op being useless in making decisions.

is there anybody on the bridge or are they all watching "Titanic"?

Lloyds ends exclusive talks with Co-op over branch sale


Lloyd's Banking Group has thrown open the sale of its 632 "Project Verde" branches by ending its exclusivity agreement with the Co-op. The decision could be a precursor to floating the portfolio or selling it to Lord Levene's NBNK.