- We await the Government’s response to the petition
- Hargreaves Lansdown will do the share sale for free
As further sales of the taxpayer stake in Lloyds are made to City institutions, the petition urging the government to reconsider has already exceeded the 10,000 signatures required to elicit a response and is now over a quarter of the way to the 100,000 needed to be considered for parliamentary debate.
Ian Gorham, CEO, Hargreaves Lansdown:
"It's easy to see why so many people are unhappy with the decision to cut out the retail investor. The taxpayer owned stake in Lloyds is being sold to City institutions when the man in the street has to pay full price. We urge the government to rethink. Money from taxpaying working people bailed out Lloyds Plc and they should be given the opportunity to participate in its sale. This share sale is an ideal opportunity for the government to encourage people to invest in their future."
Hargreaves Lansdown will do the share sale for free
In an IPO the private investor does not pay a dealing commission to their broker when buying shares. This is standard for all IPOs.
The stockbroker does receive a commission payment from the company floating shares for the work involved.
Hargreaves Lansdown will waive this commission and do the Lloyds share sale work for nothing.
The petition has now exceeded 26,500 signatures.
You can find it here.
At 100,000 signatures the petition will be considered for debate in Parliament.
374,000 people registered their interest in the Lloyds Banking Group share through Hargreaves Lansdown alone.
NOTES TO EDITORS
Globelynx and ISDN ready
Hargreaves Lansdown is equipped with a live in-house broadcast camera via the Globelynx network and has an ISDN line available for radio interviews - 0117 934 9006. To arrange an interview with a Hargreaves Lansdown spokesperson please contact the person you wish to speak to directly using the contact details above, or call Globelynx on 0207 963 7060 or email firstname.lastname@example.org.