Barclays share price: CEO Jenkins reaps £500,000 in rights issue

on Oct 8, 2013
Updated: Feb 27, 2024

Follow Invezz on Telegram, Twitter, and Google News for instant updates >, Tuesday, October 8: Barclays Plc’s (LON:BARC) Chief Executive Officer Antony Jenkins has reaped a paper profit of more than £500,000 from the shares he acquired as part of the UK bank’s rights issue, The Times reported today. A regulatory filing showed that Jenkins had picked up 613,000 shares in Barclays at the offer price of 185p. The Barclays share price yesterday closed at 272.50p, putting Jenkins holdings acquired during the rights issue at £1.67 million.

In today’s trading, Barclays shares had declined to 271.20p a share as of 9:26 BST.
Jenkins’ holding acquired during the rights offer included shares awarded as part of the Barclays executive share-purchase schemes, The Times noted. Jenkins, who took the helm at the British bank in August last year, has a total shareholding of over 3 million shares in Barclays worth £8.4 million at yesterday’s closing price, according to The Times.

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Barclays Americas Chief Executive Officer Skip McGee bought more than 350,000 shares in the rights issue. The value of that holding has risen from £650,000 to about £950,000 over the past couple of days.
Risk boss Robert Le Blanc bought 132,325 new shares.
**Cash call**
The £5.8 billion cash call by Barclays was prompted by the Prudential Regulation Authority demand that the bank raise its leverage ratio – a measure that compares its capital to assets – to three percent by mid-2014. About 95 percent of Barclay’s shareholders decided to participate, while the remaining shares worth £320 million were sold on the stock market last Friday at a price of 273p a share.

!m[Other Barclays’ directors also buy new shares](/uploads/story/5944/thumbs/pic1_inline.jpg)
Barclays’ existing shareholders were offered the right to buy one new share for every four they already owned. The capital-raising round was the biggest conducted by a British bank and raised the equivalent of 15 percent of Barclays’ market value. Investors in China, Hong Kong, Japan and South Africa were not allowed to buy shares in the offer because of local laws.
Currently, Barclay’s biggest shareholder is Qatar Holding with a stake of 6.3 percent. The investment firm subscribed to buy more shares in the rights issue to maintain its stake but did not buy any extra, Reuters reported.
**As of 10:38 BST buy Barclays shares at 269.05 pence**
**As of 10:38 BST sell Barclays shares at 268.85 pence**


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