Arbuthnot Banking Share Discussion Threads

[trader_3] 28/2/2013 16:35

Warning from CEO at STB re FSA decision today . share price tick up may be short lived !?! :-

Paul Lynam, chief executive of Secure Trust Bank, said Lord Turner's comments were "potentially encouraging news", but warned that it could lead to problems for existing challenger banks.
"We need to urgently clarify whether the challenger banks will get the same treatment as new entrants. If not, then the large banks will continue to enjoy their huge capital and funding benefits and the new banks will also be required to hold less capital than the established and profitable banks like us. So the quite perverse scenario could arise where the challengers actually become the challenged," said Mr Lynam.

[pvb] 11/2/2013 16:07

pvb 23 Oct'12 - 16:14 - 93 of 116 0 0 edit

Just a point on dividends. Apparently ARRB has moved to a sytem of yearly Consolidated Dividend Tax reporting. This does not seem to have been reported and I can't see it mentioned after a quick look at their website. You can opt out if you write to the registrars. Obviously if own shares via a nominee account it isn't relevant.

I imagine other companies will follow suit, if they haven't already.

Update from the registrars. Apparently they shouldn't have issued a Tax Cert in May, they did by mistake so now they have retrospectively issued one for last October. In future only a consolidated Tax Cert will be issued for all dividends.

[mikeja] 11/2/2013 15:06

Latest Edison update suggests 2013 underlying eps of 96.8p but reading through their 2014 figs suggests underlying eps of about 140p.i know they are not entirely reliable,(I picked MDST on their note) but thet should surely equate to a value of £18 by 2015

[mikeja] 19/1/2013 13:17

Share in STB worth £190m,mkt cap £131m

[huttonr] 19/1/2013 10:05

It does seem to have accelerated over the last few weeks - anything happening?

[mikeja] 31/12/2012 08:56

sorry about that probs with ADVFN

[mikeja] 31/12/2012 08:55

mkt cap £112m,stake in STB value £162m

[mikeja] 31/12/2012 08:55

mkt cap £112m,stake in STB value £162m

[mikeja] 31/12/2012 08:54

mkt cap £112m,stake in STB value £162m

[mikeja] 31/12/2012 08:54

mkt cap £112m,stake in STB value £162m

[mikeja] 31/12/2012 08:54

mkt cap £112m,stake in STB value £162m

[peladon] 30/12/2012 18:46

From This is Money 29.12.12
"Secure Trust shows big banks how


Secure Trust Bank shares have risen 57 per cent from 935p to 1470p since Midas tipped them in January. For many years, Secure Trust was part of private banking group Arbuthnot, but it floated on Aim at the end of 2011 as an independent company. It has grown considerably since, providing an alternative to the main High Street clearers.


Customer numbers increased by 58 per cent between June 2011 and June 2012, while profits grew 50 per cent over the same period. The bank has made several acquisitions and has launched an online current account.


The group has also won business in the consumer credit market and is considering further growth in areas such as mortgages and small business lending.


Secure Trust raised £20million in November to fund expansion and chief executive Paul Lynam said there were significant opportunities for growth in 2013.


Even on Christmas Eve, the company announced a small acquisition – retail consumer finance company V12 for £3.5million – and further deals are expected in the coming months.


Midas verdict: Secure Trust is in a position that would turn many larger banks green with envy. It is very well funded, it has not been affected by the Libor scandal or any others that beset the banking industry and it is focused on profitable growth. The shares have come a long way fast and may pause for breath over the next few months but there is long-term momentum in this business. Hold."

[peladon] 30/12/2012 18:45

Secure Trust Bank - Acquisition of V12 Group Finance

24.12.2012


PRESS RELEASE
Immediate release

24 December 2012


Arbuthnot Banking Group PLC

Secure Trust Bank PLC - Acquisition of V12 Group Finance

Arbuthnot Banking Group PLC ("ABG") is pleased to announce that its 70.7% owned subsidiary, Secure Trust Bank PLC ("STB") has agreed to acquire the V12 Group. V12 Group Finance Limited and its wholly owned subsidiaries, V12 Retail Finance Limited and V12 Personal Finance Limited (together, "V12", "V12 Group" or the "Business") provide retail point of sale loans, typically for 12 months on an unsecured basis to consumers who are predominantly classified as prime borrowers. The loans are originated through a national network of in store and online retailers using a point of sale technology-based platform. The Business will continue to trade using the V12 brand. This activity is complementary to STB's existing retail finance proposition.

STB has agreed to acquire the entire issued share capital of the V12 Group and the existing loan book which had balances of approximately £35m as at 30 November 2012. The vendors are private investors including Jon Moulton and the V12 management team. The V12 management team will continue in the business.

The consideration of £3.5 million is payable in cash by STB on completion which is scheduled to take place on 2nd January 2013. Upon acquisition STB will immediately provide funding so that V12 can fully redeem circa £7.0 million of subordinated debt principally held by Jon Moulton. In addition STB will provide funds on completion to enable V12 to repay its existing bank finance from The Royal Bank of Scotland amounting to approximately £28.5 million.

The cash consideration will be funded from STB's existing resources and the additional regulatory capital requirements arising from the enlarged STB balance sheet will be provided from a proportion of the proceeds of the placing undertaken by STB in November. The net assets being acquired are expected to be fair valued at approximately £3.4 million. The costs incurred by STB to complete this acquisition are estimated to be in the region of £0.7 million.

V12 had a loan book of £33 million as at 31 March 2012 and generated profit before tax and subordinated debt interest under UK GAAP of £0.3 million in its audited statutory accounts for the year ended 31 March 2012. STB will provide V12 with the funding needed to expand organically by deepening relationships with existing retailers, forging relationships with new retailers and expanding the range of products and services it offers to consumers and retailers alike. The acquisition is expected to be earnings enhancing for STB in the 2013 financial year.

Paul Lynam, Chief Executive Officer of Secure Trust Bank PLC, said:

"Over the last three years STB has developed its own retail finance business with lending balances at the end of September 2012 standing at over £60 million. Despite this rapid growth, the market opportunity remains very significant. The 2012 Finance and Leasing Association data showed that over £237 million of in store finance volumes were written in the month of October alone. The acquisition of V12 gives us greater critical mass and ownership of a technology-based platform necessary to provide consumers with in store and online point of sale finance. Like many non-bank financial institutions, V12's ambitions have been frustrated by the lack of wholesale funding in the recent past. STB's funding will help to unlock V12's potential and I am delighted that Nick Davies, CEO of V12, and his management team are joining us and warmly welcome them to STB. I look forward to working with them to optimise our retail finance proposition going forward."


Chief Executive Officer of V12, Nick Davies, said:

"We are delighted to become part of the STB team and look forward to playing a full part in their exciting future plans for growth. We believe that the benefits of being part of a bigger group will allow us to further enhance our current range of products and services, which in turn will improve the service we can offer to our retailers and customers."

-ENDS-

[peladon] 30/12/2012 18:43

Secure Trust Bank - Acquisition of V12 Group Finance

24.12.2012


PRESS RELEASE
Immediate release

24 December 2012


Arbuthnot Banking Group PLC

Secure Trust Bank PLC - Acquisition of V12 Group Finance

Arbuthnot Banking Group PLC ("ABG") is pleased to announce that its 70.7% owned subsidiary, Secure Trust Bank PLC ("STB") has agreed to acquire the V12 Group. V12 Group Finance Limited and its wholly owned subsidiaries, V12 Retail Finance Limited and V12 Personal Finance Limited (together, "V12", "V12 Group" or the "Business") provide retail point of sale loans, typically for 12 months on an unsecured basis to consumers who are predominantly classified as prime borrowers. The loans are originated through a national network of in store and online retailers using a point of sale technology-based platform. The Business will continue to trade using the V12 brand. This activity is complementary to STB's existing retail finance proposition.

STB has agreed to acquire the entire issued share capital of the V12 Group and the existing loan book which had balances of approximately £35m as at 30 November 2012. The vendors are private investors including Jon Moulton and the V12 management team. The V12 management team will continue in the business.

The consideration of £3.5 million is payable in cash by STB on completion which is scheduled to take place on 2nd January 2013. Upon acquisition STB will immediately provide funding so that V12 can fully redeem circa £7.0 million of subordinated debt principally held by Jon Moulton. In addition STB will provide funds on completion to enable V12 to repay its existing bank finance from The Royal Bank of Scotland amounting to approximately £28.5 million.

The cash consideration will be funded from STB's existing resources and the additional regulatory capital requirements arising from the enlarged STB balance sheet will be provided from a proportion of the proceeds of the placing undertaken by STB in November. The net assets being acquired are expected to be fair valued at approximately £3.4 million. The costs incurred by STB to complete this acquisition are estimated to be in the region of £0.7 million.

V12 had a loan book of £33 million as at 31 March 2012 and generated profit before tax and subordinated debt interest under UK GAAP of £0.3 million in its audited statutory accounts for the year ended 31 March 2012. STB will provide V12 with the funding needed to expand organically by deepening relationships with existing retailers, forging relationships with new retailers and expanding the range of products and services it offers to consumers and retailers alike. The acquisition is expected to be earnings enhancing for STB in the 2013 financial year.

Paul Lynam, Chief Executive Officer of Secure Trust Bank PLC, said:

"Over the last three years STB has developed its own retail finance business with lending balances at the end of September 2012 standing at over £60 million. Despite this rapid growth, the market opportunity remains very significant. The 2012 Finance and Leasing Association data showed that over £237 million of in store finance volumes were written in the month of October alone. The acquisition of V12 gives us greater critical mass and ownership of a technology-based platform necessary to provide consumers with in store and online point of sale finance. Like many non-bank financial institutions, V12's ambitions have been frustrated by the lack of wholesale funding in the recent past. STB's funding will help to unlock V12's potential and I am delighted that Nick Davies, CEO of V12, and his management team are joining us and warmly welcome them to STB. I look forward to working with them to optimise our retail finance proposition going forward."


Chief Executive Officer of V12, Nick Davies, said:

"We are delighted to become part of the STB team and look forward to playing a full part in their exciting future plans for growth. We believe that the benefits of being part of a bigger group will allow us to further enhance our current range of products and services, which in turn will improve the service we can offer to our retailers and customers."

-ENDS-

[mikeja] 19/12/2012 10:58

Mopped up the cheap stock

[peladon] 16/12/2012 12:43

Momentum buyers becoming momentum sellers.

[cezary] 14/12/2012 10:16

After a spectacular rise it seems the shorters have jumped on-board...imo!!

[deuchar] 13/12/2012 16:48

£6 here we come

[peladon] 10/12/2012 17:14

I got in during August for 540. Tbh, I thought this was one for patient money, hoping for a slow steady climb. Just shows how wrong you can be :-)

Still doesn't look expensive.

[mikeja] 09/12/2012 07:49

Started buying at 510 looking for £12 in 2 yrs time,maybe reach that by Christmas/?lol

[peladon] 07/12/2012 12:44

Can't think why... :-)

[mikeja] 06/12/2012 14:55

This is the sort of stock I like

[peladon] 27/11/2012 17:43

Steady rise throughout the day. More suggestive of news leaking out than a tip somewhere?

[cnx] 15/11/2012 16:56

db
interesting graph......................pity you did not offer comments