Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 374

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 374
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 any outstanding Additional Tier 1 securities, Tier 2 securities or internal eligible liabilities prior to, or together with, the exercise of any stabilisation option. In addition, any such action could result in the dilution, transfer or cancellation of Barclays PLC’s ordinary share capital, and/or the write-down or conversion of capital instruments and internal eligible liabilities and therefore reduce or extinguish Barclays PLC’s obligations to relevant shareholders and or creditors. Measures that could be taken to reduce or eliminate the risk of resolution action being taken include restricting Barclays PLC’s ability to pay dividends to ordinary shareholders. Shareholders and creditors should assume that, in a resolution situation, public financial support will only be available to a relevant entity as a last resort after the relevant UK resolution authorities have assessed and used, to the maximum extent practicable, the available resolution tools, including the bail-in tool (the Bank of England’s preferred approach for the resolution of the Group is a bail-in strategy with a single point of entry at Barclays PLC). The exercise of any of such powers under the Banking Act or any suggestion of any such exercise could materially adversely affect the value of Barclays PLC ordinary shares, could lead to shareholders losing some or all of their investment and could mean that creditors may not recover all or any of the sums they are owed. The ‘no creditor worse off’ safeguard within the Banking Act requires that no shareholder or creditor must be left worse off from the use of resolution powers than they would have been if the relevant entity had entered insolvent liquidation. Whilst shareholders and creditors may be entitled to compensation where there is determined to have been a shortfall following a valuation, there can be no assurance that shareholders and creditors would recover any such compensation promptly or that such compensation will be equivalent to the full losses that they have incurred whether in resolution or otherwise. viii) Acquisition of Tesco Bank On 1 November 2024, the Group acquired Tesco’s retail banking business (“Tesco Bank”) from Tesco Personal Finance PLC (the “Tesco Bank acquisition”) and entered into a 10 year strategic partnership with Tesco Stores Limited (the “Tesco Partnership”) to continue to originate banking products and services using the Tesco Bank brand. Actual results associated with the acquisition of Tesco Bank and entry into the Tesco Partnership may differ from the anticipated results, including with respect to: (i) the overall future performance of the assets and liabilities acquired through the Tesco Bank acquisition; (ii) the level of integration achieved, and the cost and timing of any integration, for Tesco