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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Hbos | HBOS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 70.10 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 70.10 | 70.10 |
| Top Posts |
|---|
Posted at 10/4/2013 05:51 by skinny Former HBOS chief executive Sir James Crosby has asked for his knighthood to be removed and has resigned as a non-executive director of Compass Group.He will also forgo 30% of his £580,000-a-year HBOS pension following last week's critical report into the bank's collapse during the financial crisis. Sir James served as chief executive at HBOS between 2001 and 2006. The Banking Standards Commission report called him the "architect" of the strategy that led to HBOS' downfall. His request will now be considered by a Whitehall honours committee. On Tuesday evening, it was also announced that he was stepping down immediately from Compass, the world's biggest catering company. |
Posted at 30/8/2009 00:23 by jennyj Any news on a LLOY or HBOS R/I ive been reading contradictory things? |
Posted at 12/1/2009 07:38 by masurenguy Results of Placing and Open Offer12 January 2009 Lloyds TSB today announces that, as at 11.00 a.m. on 9 January 2009, being the latest date for receipt of valid acceptances and settlement in full under the Open Offer, it had received valid acceptances in respect of 13,085,995 Open Offer Shares in aggregate, representing approximately 0.50 per cent of the total number of Open Offer Shares offered to Qualifying Shareholders pursuant to the Placing and Open Offer announced by Lloyds TSB on 13 October 2008. Each of the Lloyds TSB Directors has taken up his or her Open Offer Entitlement in full. In accordance with the arrangements set out in Part VIII of the Prospectus, upon closing of the Placing and Open Offer, HM Treasury will acquire the remaining 2,583,567,208 Open Offer Shares for which valid acceptances have not been received. HBOS has also announced today the results of the HBOS Placing and Open Offer and that it has received valid acceptances in respect of 17,692,895 HBOS Open Offer Shares in aggregate, representing approximately 0.24 per cent of the total number of HBOS Open Offer Shares offered to HBOS Shareholders pursuant to the HBOS Placing and Open Offer. As with the Lloyds TSB Placing and Open Offer, HM Treasury will acquire the remaining HBOS Open Offer Shares for which valid acceptances have not been received from HBOS Shareholders. As a result, based on the number of Lloyds TSB Shares and HBOS Shares in issue as of today's date, it is expected that on completion of the proposed acquisition of HBOS (following the Scheme becoming effective in accordance with its terms) HM Treasury will own approximately 43.4% of the enlarged issued ordinary share capital of the newly named Lloyds Banking Group plc as at 19 January 2008. |
Posted at 07/1/2009 10:59 by bluetooth This is the summary of the treatment of the 6.475% prefs (HBOX) - can anyone clarify the meaning of para iv please.New Lloyds TSB 6.475% Preference Shares The provisions of the New Lloyds TSB 6.475% Preference Shares will provide, among other things: (i) that, in the event the board of directors does not resolve that Lloyds TSB should declare and pay in full the dividend stated to be paid, they will not, unlike the corresponding class of HBOS Preference Shares, have an option to issue additional New Lloyds TSB 6.475% Preference Shares in lieu of such dividend payment; (ii) that, unlike the corresponding class of HBOS Preference Shares, dividends in respect of the New Lloyds TSB 6.475% Preference Shares will be mandatorily payable, subject to the existence of sufficient distributable profits, in the event that the New Lloyds TSB 6.475% Preference Shares cease to qualify as regulatory capital for Lloyds TSB pursuant to applicable capital regulations; 43 (iii) that, unlike the corresponding class of HBOS Preference Shares, in the event that the board of directors, or a committee thereof, resolves that Lloyds TSB should not pay in full a dividend stated to be payable on the New Lloyds TSB 6.475% Preference Shares, Lloyds TSB will not, for a period of (as more fully described therein) one calendar year from the date on which such full dividend is not paid, redeem, purchase, cancel, reduce or otherwise acquire in any other way any shares, or declare, or pay or set aside any sum for payment of any distribution or dividend or make any other payment on, and will procure that no distribution or dividend or other payment is made on, any shares, expressed to rank junior to the New Lloyds TSB 6.475% Preference Shares; and (iv) that, unlike the corresponding class of HBOS Preference Shares, subject to the Lloyds TSB Articles and applicable laws and regulations and to prior confirmation from the FSA that it has no objection, Lloyds TSB may substitute the New Lloyds TSB 6.475% Preference Shares with certain qualifying Tier 1 securities ranking pari passu with the New Lloyds TSB 6.475% Preference Shares on terms materially as favourable as the preference shares being substituted or purchase any New Lloyds TSB 6.475% Preference Shares in issue. Thanks B.T. |
Posted at 05/1/2009 20:32 by mryesyes Mr YES YES Proposal to HM GovernmentIf the 12th deal is not straightforwardly accepted, the treasury takes 49.9% of HBOS and its loan book, leaving it to sell new mortgages and retain scottish and halifax savers, and its trading names. Result : Shares trade freely and go above current levels The Govt saves the bailout money it was giving to HBOS and minimises its deal with LTSB or gives it nothing immediately unless needed to stay solvent. LTSB might then extend its rights issue closing date and be trading at a premium to it. Cannot see why anyone would object. Gordon could say the govt was in a better position than under the previous scheme, esp if LTSB got no funding until it had had the opportunity to do a Barclays and then if it failed to raise funds get a bit off Brown. Govt creates company holding Northern Rock, HBOS and B&B mortgages and bides its time, gaining credit by helping people under its banks to stay in their homes where possible. Eventually it would break even and go into profit. I just cannot see why Halifax and Bank of Scotland need to be subsumed by LTSB. No one is happy about it really, its just a nasty situation. LTSB & HBOS have disgraced themselves with their latest rights issue, amounting to little more than a con trick on the most unwordly private investor, blatently thinking some idiots will send in cheques. Also HBOS paying its scrip holders at the 232 rate when the market price was under £1.30 companies doing this are unworthy of the trust of any small shareholder. |
Posted at 05/1/2009 19:00 by mryesyes This is a mire of despair isn't it.HBOS trading at 0.5-0.535 of LTSB when both sets of shareholders have voted for 0.605 Both pathetically making rights issues at massive premiums with a closing date immediately before the competiton commission ruling Quite clearly LTSB board would rather HBOS was taken over like B&B and trouble is unless the commission qives the green light with NO caveats on LTSB (likely?) LTSB board could refuse to accept the caveats I can see LTSB refusing even the slightest caveat to avoid the deal, and also refusing to let the government take control leaving the government to either over-rule the commission (causing LTSB shares to go below £1 as it takes on the HBOS mortgage book with house prices at 2000(at auction)-2004 (rare event of estate agent sale) prices, the govt keeping people in their homes etc Santander won't take over the book, only the savings as with B&B I believe LTSB will take issue with even meaningless caveats, I believe it wants a solution somewhere between Barclays and RBS and to forget HBOS So do a lot of other people, there isn't really room for a further reduction in the cost of HBOS but its just a gamble on whether LTSB is forced to take HBOS at 60.5 as it will be if the commission raises NO objections, otherwise the govt will have to deal with HBOS share suspension if short selling returns on the 16th I don't really understand how Brown has got the LTSB directors this far, probably would not have before the latest house price info. No doubt some under the counter deal will be done but apart from shorting HBOS on the 16th or sooner if you can (I suspect some small time slimes have today) there is no clear winner in sight, suspect backing either horse is for day traders |
Posted at 04/1/2009 19:18 by propane Lloyds defends HBOS pension moveDate: 04 January 2009 By Rosemary Gallagher LLOYDS TSB is adamant that HBOS's pension scheme will be stronger when the two banks merge, despite the decision by scheme trustees to try to postpone the deal until their concerns are addressed. On Friday, HBOS's pension trustees agreed to ask the Court of Session in Edinburgh on January 12 to delay giving the deal legal approval until Lloyds TSB guarantees it will protect the scheme's 80,000 members. The trustees have also commissioned an independent valuation of the scheme by actuaries Watson Wyatt that could reveal deficits of up to £5bn. Trustees want Lloyds to guarantee HBOS's liabilities. Lloyds has not agreed to do this, but has argued that the pension scheme will benefit from the merger. A spokesman for HBOS said: "We are very much of the view that our deal with Lloyds TSB is the best form of protection for our employees. "Following the deal, the HBOS pension scheme will be backed by an even bigger and stronger group. We believe this provides significant reassurance for a l l HBOS colleagues." The HBOS scheme trustees hope to postpone completion of the merger beyond its scheduled date of January 16, following their representation at the court hearing on January 12. However, they said they "decided to take this step reluctantly". Sources said the challenge is "not likely to be a deal breaker". |
Posted at 28/12/2008 11:18 by taffee don't buy hbos in the offer,buy in the open marketyour hbos shares wil be converted to lloy in jan at .605 of a lloyds share what your broker is effectively saying is by buying hbos shares at around 65p,you are effectively buying lloys shares at substantial discount as hbos shares should be around 75p closing lloy share price 124.1 x 60.05%=75.0805(what the hbos share price should be) |
Posted at 22/12/2008 18:05 by milkygateway Hi, assuming the deal goes through, what will happen to HBOS shares i own at the middle of January? Will they automatically be converted to Lloyds TSB shares (83 LLOY for every 100 HBOS).Note i only bought the HBOS shares a couple of weeks ago if that makes any difference.Finally, if on the day before HBOS shares are suspended 83% of the LLOY price is greater than the HBOS price, then shouldn't I just put all my money into HBOS and make a big profit when i get them converted into LLOY? Or will the 2 prices gradually move towards each other over the coming weeks to prevent this arbitrage? Thanks |
Posted at 19/12/2008 18:42 by mark1000 I am quite surprised by the way the ratio Lloyds and HBOS swing around - particularly after Lloyds Chairman Victor Blank said that Lloyds had already priced in the big write downs put through by HBOS and were comfortable about them. It was natural for HBOS to kitchen sink it under I suggest firm instructions by Lloyds and of course it ensured a landslide Yes Vote by HBOS shareholders later in the day. I expect that the gap will narrow in the run up to the merger date but by definition it will be Lloyds falling and HBOS rising as arbitrage takes effect. The talk about full Nationalisation is just plain silly the Government would not want to do it they are committed to the Lloyds Management who they describe as being the good guys. The real issue is will there have to be further re-capitalisations with Government funding increasing the Government shareholding above 50% particularly if this recession not only deepens but runs through to 2011. |
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