The decision by UKFI to extend its trading plan to sell Lloyds shares until 31 December 2015, together with the government's promise to sell approximately £4bn in stock via a discounted retail offer, should facilitate a full exit from the lender in 2016.While positive, the shares are "up with events", broker Investec said in a research note emailed to clients. Hence its decision to reiterate its 'sell' stance on the stock.That comes after UKFI announced on Monday morning that it had lowered its stake in Lloyds to 18.99% from the 19.93% it held on 12 May.The formerly above-consensus "underlying" view is now consensus as balance sheet shrinkage precluded any upgrade to its forecasts, Investec's Ian Gordon went on to explain.Gordon expects a further £1bn in PPI charges to weigh on the share price recovery. At the moment consensus is mistakenly not factoring in liability management charge associated with the redemption of its residual enhanced capital notes, the analyst said.The broker reiterated its 84p target price.