RBS 2007 Annual Report Download - page 236

RBS Group • Annual Report and Accounts 2007
234
Additional information
Additional information continued
Description of property and equipment
The Group operates from a number of locations worldwide,
principally in the UK. At 31 December 2007, the Royal Bank
and NatWest had 649 and 1,629 retail branches, respectively,
in the UK. Ulster Bank and First Active had a network of 282
branches in Northern Ireland and the Republic of Ireland.
Citizens had 1,616 retail banking offices (including in-store
branches) covering Connecticut, Delaware, Illinois, Indiana,
Massachusetts, Michigan, New Hampshire, New Jersey, New
York, Ohio, Pennsylvania, Rhode Island and Vermont. A
substantial majority of the UK branches are owned by the
Royal Bank, NatWest and their subsidiaries or are held under
leases with unexpired terms of over 50 years. The Group’s
principal properties include its headquarters at Gogarburn,
Edinburgh, its principal offices in London at 135 and 280
Bishopsgate and the Drummond House administration centre
located at South Gyle, Edinburgh.
Total capital expenditure on premises (excluding investment
properties), computers and other equipment in the year ended
31 December 2007 was £1,792 million (2006 – £1,140 million;
2005 – £1,275 million).
Major shareholders
Details of major shareholders of the company’s ordinary and
preference shares are given on page 98.
There have been no significant changes in the percentage
ownership of major shareholders of the company’s ordinary
and preference shares during the three years ended
27 February 2008. All shareholders within a class of the
company’s shares have the same voting rights. The company
is not directly or indirectly owned or controlled by another
corporation or any foreign government and the company is
unaware of any arrangement which might result in a change
of control.
At 27 February 2008, the directors of the company had options
to purchase a total of 8,603,307 ordinary shares of the
company.
As at 31 December 2007, almost all of the company’s US$
denominated preference shares and ADSs representing
ordinary shares were held by shareholders registered in the
US. All other shares were predominantly held by shareholders
registered outside the US.
Material contracts
The company and its subsidiaries are party to various
contracts in the ordinary course of business. During the year
ended 31 December 2007, the company entered into a
Consortium and Shareholders’ Agreement dated 28 May 2007,
among the company, Banco Santander Central Hispano, S.A.
Fortis N.V., Fortis SA/NV and RFS Holdings B.V., which governs
the relationships amongst these parties in relation to the offers
by RFS Holdings B.V. to the holders of ABN AMRO ordinary
shares and American Depositary Shares, as more fully
described in the section entitled ‘Summary of the Consortium
and Shareholders’ Agreement’ included in the company’s Form
F-4, as amended (Reg. No. 333-144752). Other than the
aforementioned agreement, there have been no material
contracts entered into outside the ordinary course of business.
FSA Listing Rules disclosure
With effect from 17 October 2007, the Group transferred to
Santander (a related party for the purposes of the FSA Listing
Rules) its rights and obligations under the Consortium and
Shareholders’ Agreement in respect of the ABN AMRO Global
Clients business in Brazil for 750 million.