London Scottish Bank Share Discussion Threads

[youngferret21] 05/9/2010 17:41

Was anyone aware of this.



Apologies if this has been posted somewhere else.

Ferret

[waterloo01] 03/5/2010 20:35

Still in administration, not yet declaired of negligable value (ie can write off for tax). No value.

[youngferret21] 03/5/2010 18:35

Anybody actually know if they still exist and will we get anything back?

Thanks in advance

[5professor] 04/1/2010 21:18

As LSB is still carrying on,ipso facto the administrator is not intending to wind it up. As such he has no obligation to contact the shreholders. However, out of sheer decency,he should put out some information on the company.

[sleepy] 04/1/2010 21:09

Has anyone heard anything from the Administrators?

[5professor] 04/1/2010 20:52

Just to let you know that Virgin Money is looking to acquire a banking license.
It expects to finalise the acquisition by March 2010. It is looking at about 10 small banking companies and I believe London Scottish bank will be ideal for them because it has retail customer base as well as a mortgage book.

The company has denied press report that it intends to acquire a certain small bank ( named in the press )for £50 millions. Keep your fingers crossed.
imho

[darcon] 01/8/2009 03:23

Shareholders are the very last in the pool of unsecured creditors of the company. Whether they get anything at all depends on the price that the business is sold at by the administrators.

[youngferret21] 30/7/2009 23:52

Anyone know what is happening regarding this company, I have a lot of shares in here and cannot believe they are not giving an update.

Do we have any contact details?

[mulder1818] 26/3/2009 22:32

Does anyone have news on the state of play?

[barsco] 20/2/2009 15:40

I don't recall any update?

[cyclingnut] 23/1/2009 10:42

spoke with the administrator yesterday.....there will be an update beginning of Feb....

[city girl] 08/1/2009 11:34

Many thanks 3professor. I'll not throw the shares in the bin just yet..

[llwyd] 07/1/2009 20:12

Thankyou 3professor, that is more info than we have had from this LSB board in months, sure we can find the info somewhere but shareholders should be kept informed. I'm down about 5k on this lot, oh well can't win em all. Hey lucky great niece, such a good idea to encourage a punt!

[3professor] 07/1/2009 19:53

City Girl - I normally do not post on any board other than DGO , which I started doing only recently, because of despondency of the share holders there.

My grand niece wanted a laptop with blue ray etc. costing about £764 as a Christmas present and I made a pact with her that I will invest about £5000 for her on the stock market and she can use the profit to buy her computer.
I offered her a choice of Asian Citrus, which were at 54p, and LSB which had gone up to 6p due to speculation that Barclays were about to take it over. I explained to her that Asian Citrus were undervalued and would rise and LSB were worth about 12 to 15p in property assets but were facing liquidity problem. She chose LSB because it is a bank and said that people will cut down on oranges if they did not have enough money to spend.That made sense. I bought 20,000 shares for her. A week or so later Asian Citrus on the back of good results went up to 120 pence and LSB went down to about 3p.

She then chose Dragon oil because I already had substantial holding, at 130p and likewise Legal and general at 70p. She is showing enough profit to buy her computer but has lumbered me with LSB because I had bought them in my own account and not in hers, which incidentally I got opened for her later on.
She said I had put the mockers on her purchase of LSB and therefore they were mine and not hers.

I believe you will get something for your shares probably in the region of
10 to 15 pence if the property market does not collapse further. At the moment
no one is interested because there is a short position on LSB stock , which needs to lapse or be closed. We will know on 16 January 2009 whether the position has lapsed or is still on.After that interested parties will consider bidding for the company.If the short position has lapsed , the shares might be worth 15p otherwise they will be worth 10p or a bit less. There are companies like Cattles who are interested in banking license, which presently is very difficult to get. The license alone is worth quite a bit.I believe the company is still trading although in administration.

I hope I have given you some comfort.

IMHO DYOR.

[city girl] 07/1/2009 13:43

2cami,
It's a great pity that no-one is posting here about events at LSB. Employees & Shareholders would all find it useful in the complete absence of any sort of comment or news from the administrators, directors or senior managers. Can you not quietly encourage your colleagues to do so?
It's a disgrace that everyone's being kept in the dark but totally in keeping with the way the company has been (badly)run in recent times.
I'm not in your unfortunate position whereby my job is under threat but I do hold a sizeable number of shares in LSB which are presumably worthless now, or are they? There's been no contact whatsover with me to explain what is happening or where I stand, all I have seen is the few snippets in the press from early December and nothing since.

[2cami] 04/1/2009 19:20

I dont have many shares, less than 800, but after serving the company well for many years and staying until the very "death" I would appreciate someone from the inner sanctum letting me know what is about to happen. Can I burn my shares yet?

[llwyd] 22/12/2008 11:50

True to form we are being left in the dark, we can only hope for some value.

[city girl] 22/12/2008 11:08

Only me left then?

[city girl] 19/12/2008 12:22

I'd like to think my shares still have some residual value but there's no news at being put out by the administrators and no rumours being posted on any of the messageboards. Anyone know what's going on?

[volsung] 02/12/2008 14:20

Sorry wrong thread

[volsung] 02/12/2008 14:20

LOL I'd never tried dogging before and was a little nervous however the wife's ex boyfriend soon showed me the score ;0 I kept the gimp mask on all the time in case there were other lecturers about. However I had a great time. Will be in touch soon! Love V

[andrbea] 02/12/2008 13:54

now it's in administration, they have interest from buyers

another knife in the back for former shareholders...

[cyclingnut] 02/12/2008 08:51

according to the FT....no jobs have been lost at LSB and they are trading as usual...so even if a bidder snaps LSB up are we as shareholders screwed....is it really GAME OVER here?