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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Lon.Scottish Bk | LSB | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 3.08 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.08 |
| Top Posts |
|---|
Posted at 25/11/2008 10:54 by meanm Hardly any sells and the bid price continues to tumble. The spread is ridiculous and something needs to be done about MM's and such practices. Total nonsense.The key point as far as I can see is that no-one is really selling, despite the MM's trying to trigger automatic trades, which suggests a large body of investors expecting positive news. I hear 6p being mentioned, based on an offer. Watch this space. |
Posted at 01/9/2008 10:52 by meanm Cyc,Very hard to call. Very hard indeed. I suspect, and I may prove to be wrong, that we shall see 15p-20p. When I say I may be wrong I do mean that my projected top end may be lower than what actually transpires. It's dificult to say how the market will respond at times and there are many investors out there looking to make a quick killing, which can result in over-pricing. Still, think I would be "comfortable" with even 15p. Greed is what kills you! |
Posted at 11/7/2008 14:17 by meanm Cyc - Clearly most of those sells were institutions selling in smaller blocks! I am actally reasonably positive about LSB now. The board have announced everything in "worst case" terms and I can't see the losses they have forecasted ever being realised. The market as a whole is re-acting to any seemingly negative news in an overblown manner. LSB's news in terms of results and losses couldn't have been "put" in any worse terms and yet there has not actually been that much selling. Most investors are holding tight, quite wisely in my opinion.Moreover, the company has secured lending, which if they had not, I would have been concerned about. But they did manage that, in tight economic conditions, at a favourable rate. They also sold LSIF for a substantial sum and, in doing so, reduced the shortfall in regulatory capital requirement. With the closure of branches and the merging of the Unsecured Lending divisions the company's losses will be brought under control. Thankfully, RW continues to perform well, as does the Mortgage division, which althought it may not be writing any new business, it will continue to generate profit. All of these factors will make LSB a fairly attractive proposition in terms of a T.O. News will undoubtedly break soon. |
Posted at 02/7/2008 09:33 by meanm I still truly believe that it is the MM's trying to scare investors into selling. However, I think it has got to the stage with LSB that there is almost no point to selling for most investors.They can take me out kicking and screaming. It is due a bounce, just as Tanfield has reacted today. LSB seems to be losing value with very little trade. In fact, it buying was higher than sells today and they still dropped the price. Again, though, I imagine the MM's would have believed that they would have triggered more stop losses than they have. I am frankly amazed that they have not triggered more sells. |
Posted at 01/7/2008 23:32 by grlz Mean - wasn't being critical of you, far from it. My point is Management want to paint a dire picture of LSB - Your right the £52m for unwinding UCC has as far as I can tell been plucked from the air, its vague and its bleak - Management are even adding in losses for 2009 which haven't been made yet - ITS CRAZY and serves no purpose other than holding the share price down to favour potential bidders who won't buy-out holders but wash their equity away in a fund raising.Lets get this straight the £52m has been rolled out in full knowledge that it looks like ticking bomb in the balance sheet - it's at best a projection of if's and maybe's painted in red - What I find unbelievable, but not surprising given how management are over-booking impairments is that this "worst case scenario" is not offset by a "best case scenario" or even a number in-between - NO we just get told to accept the cost is £52m while management tries to negotiate a £45m recapitalisation with a balance sheet they have turned to sh#t I maybe strong on this but given it now looks existing holders are now set to be pi##ed down the river by a rights issue/underwritten placing at terms totally loaded towards potential investors I feel I have a right. all imho/DYOR |
Posted at 01/7/2008 02:16 by grlz This is being walked down by management to disadvantage shareholders - I had to re-read the accounts just to believe what I was reading - impairment charges are ridiculous.Management would have us believe that their unsec/secured £280.8m loan book needs a £72.3m impairment charge with a further £52m worst case scenario to complete the unwinding of the Unsecured Lending Unit - I just don't buy it as that would equate to 44% of the book not in default or arrears but unrecoverable - no one has that kind of impairment, you could sell the book for more - even an Administrator/IP has a better recovery rate - for it to be that high begs the question has LSB been lending £million's to nigerian fraudsters to fuel bonfires with bundles of notes? The sad fact is over-booking impairments on the balance sheet effectively washes away the equity of existing shareholders to sell the company on the cheap - leaving the new owners/investors or MBO team ??? the benefit of discovering as if by magic that some of those loans were not actually as worthless as first thought and could be collected or new repayment terms applied. It seems the reality here is there is only a £7m regulatory capital shortfall and RW reported in this period £6.3m profit - Allocated costs are £2.0m leaving a profit for the period of £4.3m or around £11/14m for the year imho That makes RW worth £80m on a conservative valuation BUT Management have what looks like an impairment wish list, wanting to add more and more charges - frankly some of what they report contradicts itself, for example in the Business overview: The first charge mortgage business continues to perform well with low impairment charges of £0.2m (H12007: £0.1m). The second charge secured business is trading at around break-even after impairment charges of £1.9m (H1 2007: £1.4m). then in outlook: The Directors expect that the second charge secured loan business will continue to see rising impairment charges, thus reducing the overall performance of this division. Lets hope the roof falls in to...... LSB's treasury wants us to believe that one lending book worth £280m needs a £72m impairment charge and the £87m loan book of RW only needs a £0.8m impairment. DYOR |
Posted at 18/6/2008 09:41 by meanm Considering how low the share price has fallen, for there only to be sales in the region of 550k (£38K) actually fills me with some confidence in the investors out there. Maybe they are not as easily led as I thought. Here's hoping. |
Posted at 11/6/2008 11:23 by davius Well if they were to refinance for a few million and trim everything bar Robinson Way that has to be worth £50m minimum. The credit crunch and house prices falling means debt recovery will continue to grow so it would seem to be the right kind of business for troubled times. The numbers suggest RW could make perhaps £10m a year, less costs. A trimmed down business might have costs of say £3-£4m so £6-7m profit at current trading, maybe more with growth.A 2.5 multiple of todays cap should be feasible if investors take up the rights. It depends on how much they need to raise of course, if much lower than the £11m odd I suggested previously then a £50m market cap would result in a relatively higher share price. I've set my sell target at 20p. |
Posted at 10/6/2008 10:14 by meanm Cyc,Honestly, what is happening is the MM's, on the back of less than share price fuelling news and some investor dismay, trying to capitalise. I have looked at trade since the 29/5 and here is what I have found: Total shares bought = Approx 3,416,000 Total shares sold = Approx 3,076,000 The buys are outweighing the sells by about 340k, but the share price has dipped from 11p to 8.5p. On the 30th of May, the buys were 1435 million and the sells 214k and yet the share price actually fell. I think that tells you all you need to know. The MM's want this stock and realise the company are steadily moving forward, but the uncertainty about certain areas is being used by them to remove "lightweight" investors. If you have faith in why you invested in LSB then remain, if not, sell. It is the only advice I could give. Before you do, look at the figures I quoted you and research things yourself. Many times the share price does not reflect the facts in terms of buying power and the MM's manipulate investors because of their power. |
Posted at 03/6/2008 02:41 by grlz problem is all the news is out now so there is nothing to trade until an update or the results are due - AXA is an unknown negative, although imho it's selling is nothing like that of BT/Hermes so it won't go below 8p imho and may stay above 10p.Again just a guess but the potential placing/rights issue isn't just going to cover any shortfall in the capital requirement, LSB have stated that they also intend to recapitalise the business going forwards. That could mean they may want to tap an xtra £7-14m of cash from investors if you use this new banking facility as a starting base, they could be looking looking to cover 10-20% with their own capital.... A hefty dilution by any measure The prospects LT are great as RW is now on a firm ground - BUT i'm not jumping up and down as LSB still has a significant loan book and could yet generate further heavy impairment charges DYOR |
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