HSBC Holdings PLC UPDATE ON SALE OF HSBC CANADA (6988X)
December 22 2023 - 2:00AM
UK Regulatory
TIDMHSBA
RNS Number : 6988X
HSBC Holdings PLC
22 December 2023
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22 December 2023
HSBC HOLDINGS PLC
UPDATE ON SALE OF HSBC CANADA
On 29 November 2022, HSBC Holdings plc ('HSBC') announced the
sale of its business in Canada ('HSBC Canada') to Royal Bank of
Canada ('RBC'), subject to regulatory and governmental approvals.
On 21 December 2023 the Canadian Federal Government's Minister of
Finance approved the sale, with this approval enabling the
transaction to proceed.
HSBC and RBC continue to make progress on implementation and the
transaction is expected to close in the first quarter of 2024. HSBC
remains committed to considering the payment of a special dividend
of $0.21 per share as a priority use of the proceeds from this sale
in the first half of 2024.
Miscellaneous
The Board of Directors of HSBC Holdings plc as at the date of
this announcement comprises: Mark Tucker*, Noel Quinn, Geraldine
Buckingham , Rachel Duan , Georges Elhedery, Carolyn Julie
Fairbairn , James Anthony Forese , Ann Godbehere , Steven
Guggenheimer , José Antonio Meade Kuribreña , Kalpana Morparia ,
Eileen K Murray Brendan Nelson , David Nish and Swee Lian Teo .
* Non-executive Group Chairman
Independent non-executive Director
For and on behalf of
HSBC Holdings plc
Aileen Taylor
Group Company Secretary and Chief Governance Officer
This announcement contains both historical and forward-looking
statements. All statements other than statements of historical fact
are, or may be deemed to be, forward-looking statements.
Forward-looking statements may be identified by the use of terms
such as 'expects,' 'targets,' 'believes,' 'seeks,' 'estimates,'
'may,' 'intends,' 'plan,' 'will,' 'should,' 'potential,'
'reasonably possible', 'anticipates,' 'project', or 'continue',
variation of these words, the negative thereof or similar
expressions or comparable terminology. HSBC has based the
forward-looking statements on current plans, information, data,
estimates, expectations and projections about, among other things,
results of operations, financial condition, prospects, strategies
and future events, and therefore undue reliance should not be
placed on them. These forward-looking statements are subject to
risks, uncertainties and assumptions about us, as described under
'Cautionary statement regarding forward-looking statements'
contained in the HSBC Holdings plc Annual Report on Form 20-F for
the year ended 31 December 2022, filed with the SEC on 22 February
2023 (the '2022 Form 20-F'). HSBC undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. In
light of these risks, uncertainties and assumptions, the
forward-looking events discussed herein might not occur. Investors
are cautioned not to place undue reliance on any forward-looking
statements, which speak only as of their dates. No representation
or warranty is made as to the achievement or reasonableness of and
no reliance should be placed on such forward-looking statements.
Additional information, including information on factors which may
affect the HSBC Group's business, is contained in the 2022 Form
20-F.
ends/more
Investor enquiries to:
Neil Sankoff +44 (0) 20 7991 5072 investorrelations@hsbc.com
Yafei Tian +852 2899 8909 yafei.tian@hsbc.com.hk
Media enquiries to:
UK - Kirsten Smart +44 (0) 20 79918096 pressoffice@hsbc.com
Canada - Sharon Wilks +1 647 388 1202 sharon_wilks@hsbc.ca
Note to editors:
HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is
headquartered in London. HSBC serves customers worldwide from
offices in 62 countries and territories. With assets of US$3,021bn
at 30 September 2023, HSBC is one of the world's largest banking
and financial services organisations.
ends/all
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