Alliance & Leicester Share Discussion Threads

[k38] 25/8/2008 03:05

taffee
stick two fingers up to this deal...must be getting sweeteners...

The documentation revealed that the Spanish bank will offer A&L's top four executives, including chief executive David Bennett and Chris Rhodes, finance director, a bonus of between 75 per cent and 125 per cent of their salaries to stay with the company until the end of November next year.

stick two fingers up to this deal...

If they are laid off before then, they will receive a pro-rata bonus based on the number of months they served. Mr Bennett, who has been in his job for just over 12 months, will be paid a base salary of £600,000 this year. He also has A&L shares valued at more than £182,000 by Santander's 299p per share offer.

stick two fingers up to this deal...

Roy Brown, acting A&L chairman, strongly encouraged shareholders to vote for the deal, to ensure that all of the legal requirements for the scheme of arrangement to go through are met.

stick two fingers up to this deal...

A&L yesterday received a boost after raising £400 million from the sale of bonds backed by prime mortgages, only the second such sale in more than a year.

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stick two fingers up to this deal...

An A&L spokesman said: "It reflects well on the quality of our underlying mortgage assets."
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stick two fingers up to this deal...

The bank said that it was focused on improving cost efficiency, reducing core operating costs by £21 million in the first half of 2008

stick two fingers up to this deal...

It insisted it was in "good shape" and said it was well capitalised and that its retail and commercial banking businesses were performing better than expected.

stick two fingers up to this deal...

Investors have previously shied away from residential mortgage-backed assets after being burned by US sub-prime investments.
But A&L has no self-certified loans on its books and just 2 per cent are buy-to-let mortgages, which were not included in the bonds.

stick two fingers up to this deal...

Shareholders who want to vote by post must register their decision by September 14, but others can vote at the EGM in Birmingham on September 16. The deal will be complete by October 10,requires 75 per cent of all voting.

;)

[andrewlewis] 21/8/2008 08:01

MR
Any reason that Barclays is building up a share of AL? Also is it possible to find out how many groups have taken a position in AL and what their holdings are?

Thanks for your help. Just a poor shafted shareholder!

[morgan reynolds] 19/8/2008 21:20

vote no...directors are liars..getting paid in brown envelopes to shaft the shareholders...crooks in suits basically

[keith95] 19/8/2008 21:16

and the whole of the company taffee ....

[taffee] 19/8/2008 16:44

stick two fingers up to this deal...al directors must be getting sweeteners...and these the people who turned down £12....allegedly

outrageous

[morgan reynolds] 15/8/2008 21:06

if the bid is rejected AL. will crash to 200p

[andrewlewis] 12/8/2008 10:17

Jenny

Are you still there? Look at all the financial groups buying AL shares?

Any reason you can think. The deal is still not finalized and hopefully a better bid might come in i.e AVIVA Barclays.

Quien Sabe?

[crazi] 07/8/2008 22:24

VOTE NO!!!

[jmcm] 07/8/2008 09:50

Hi,

Can anyone advise on the following?

After recently reading a very good article on the Santander take over of Alliance & Leicester, it values the bid at £3.35 per share. Why then, is the current bid price of £3.53 being offered?

Is this just speculation that a new bidder will come forward or are we best to sell shares at that price, rather than hang on for the takeover to go through at £3.35?

Cheers.

[keith95] 06/8/2008 09:57

I bailed AL. and got into HBOS ... latter has almost caught up ... the 50p difference .. don't like what the AL. board agreed to but nonetheless any rises are stunted by the peformance of Santander ... IMO... and in this fast moving market the money would have been near dead in the short-term.

[k38] 05/8/2008 15:27

Gordon Brown is considering suspending stamp duty in an emergency measure to kickstart the housing market, it was claimed last night.

[andrewlewis] 05/8/2008 07:52

Another 8/9% of AL shares taken up by Global and Barclays. We are almost up to 30% of the outstanding shares. When will the shareholders meeting be?

[k38] 04/8/2008 01:12

Total pages:4

[indomie] 01/8/2008 22:56

The best thing about this deal is that it has provided a floor for al's share price until october at a time when it was heading further south....by october the board will have a better idea of the economic situation and can either neg a better price from santander or walk away - will be v interesting to see what all these new holders have joined the shareholder list for!.....

[acamas] 01/8/2008 08:24

I think they expect larger Treasury problems in the next six months. So they have "cut and run" into the arms of the first suitor

[andrewlewis] 01/8/2008 08:15

What chance the interim report. Still in profit!

[daveram13] 31/7/2008 21:03

The offer must be REJECTED!!
Recovery is being held back by the bid!

[andrewlewis] 31/7/2008 17:03

k38

Thanks for your input. It seems that 3 more financial institutions have bought up to 12%+ of AL including Barclays. For Barclays that almost makes 9-10% in the last 2 weeks. Interesting to see where all this is going.

[k38] 31/7/2008 11:13

You have to remember this is my opinion only ,not advise.

NR (is doing very well,but the mess smell)big shareholders try to do thesame,but the government make a big mess,as always.
Here they(fsa)force them to sell(a 3days deal),in panic and as always the shareholders loose ones more.Recovery has started,is not far away.
So if they don't get higher offer (if this is not a smoke screen)i see no deal here.See HBOS,i expect good news here to.

piersyboy2 YES
you have to phone them now,so they will send you papers on time.good luck.

(i don't know more then others ,but always try to see things and think different.It works for me :)

[andrewlewis] 31/7/2008 07:44

K38

How do you think the voting will go for the takeover if all these different financial organizations are taking a part of the company. It seems to add up to at least 20%. Which way will they vote; are they trying to force a higher offer and make a profit? What else?

[piersyboy2] 31/7/2008 06:35

I hold all my shares in a nominee account, how will I get a chance to vote?, do I need to apply for a voting pack?
Thanks