News: NAB National Australia Bank updates on CYBG demerger

Jan 27 (Reuters) - National Australia Bank Ltd (NAB) :

• NAB board is of the view that a demerger is likely to enhance value for

  shareholders over the long term

• Says unanimously recommends that shareholders vote in favour of the

  resolution

• Proposing 75 per cent of CYBG PLC, which will own NAB's Clydesdale and

  Yorkshire bank operations, be distributed to NAB shareholders

• Nab directors will vote in favour of the proposed resolutions in respect of

  their own securityholdings

• NAB directors intend to hold the CYBG securities they receive under the

  demerger for at least 12 months

• Independent expert Grant Samuel has also concluded that the demerger is in

  the best interests of NAB shareholders

• Says examined a range of exit options, including a trade sale and a

  standalone partial or full IPO