Hbos Share Discussion Threads

[maak128] 12/12/2008 12:05

in auction......

[shorter killer] 12/12/2008 12:02

Someone said vote result at 1200. Where is it?

[maak128] 12/12/2008 12:02

wheres deb- no ramping? we need u to push the share price up

[thinkitect] 12/12/2008 12:01

Looks like bad news?

[wookie77] 12/12/2008 11:59

something not right here.

[thinkitect] 12/12/2008 11:59

wow, lots of selling..

[spacetomato] 12/12/2008 11:56

maak, i got s"maaked" in the face with uen.. on my day trade. damn.. still holding me shares there anyway.


...porridge3 and Wrightey, any chance of a break here, please? :o(

[maak128] 12/12/2008 11:55

GOD how low will this go..........

[tokolosh] 12/12/2008 11:55

Will the turkeys vote for Christmas?

[isis] 12/12/2008 11:43

Nothing to do with them making silly loans to people who can't afford them and buying worthless US Mortgage Bonds then?

[wig123] 12/12/2008 11:41

Of DOW JONES NEWSWIRES
BIRMINGHAM, England (Dow Jones)--HBOS PLC (HBOS.LN) Chairman Dennis Stevenson repeated Friday that the sale of the company to Lloyds TSB Group PLC (LYG) is the only viable solution for the group in the current economic conditions.

Stevenson said management had sought other solutions and were disappointed that they couldn't find any that would enable the group to remain independent.

"You don't need me to tell you that we're living through the most pronounced financial crisis since the great depression in the 1930s," Stevenson said, "in which all but a few banks have had to seek government help."

"This is no ordinary recessionary setback," he said. "It is the first major failure in the wholesale funding market in over hundred years, but even if the wholesale markets hadn't collapsed, we would still be living through a pretty grizzly credit crunch."

Stevenson said the bank had entered the period "neither blind nor unprepared, and we entered with adequate capital ratios," but that this was "recessionary gale" that particularly hurt HBOS because of its significant exposure to the deteriorating U.K. economy.

He, as well as the Chief Executive Andy Hornby, apologized to shareholders but strongly urged them to vote in favor of the Lloyds deal and for the capital increase that will only take place if the acqusition is approved.

A private shareholder protested against the chairman's contention that HBOS just got trapped in the wholesale funding malstroem, saying, "It is banks like yours that have caused the crisis in the first place. You've brought this crisis on yourself, which you are now trying to hide behind."

"If you didn't understand what you were doing, then you weren't doing your job properly...and if you did know but did it anyway for short-term profits....will you return your salaries and bonuses to the company?"

Chairman Stevenson said he "understood" the shareholder's comments about HBOS' level of fault in the crisis but that he disagreed.

As for the return of compensation, Stevenson said payments and bonuses had been based on the "simple" operations of the group such as regular lending, and not based on profits made on what are now toxis assets.

He also commented that HBOS' problems weren't - and still aren't - about capital. "We are adequately capitalized. Our problem is about access to wholesale funding markets - it is about liqudity," he said.

Earlier, he explained that as HBOS was desperate for relief on the funding side, the U.K. government's funding support to U.K. banks is conditional upon raising additional capital.

HBOS' standalone viability has increasingly been subject to concern after it announced a capital hike in the spring, with repeated rumors of funding difficulties. Only 8% of shareholders participated in the capital hike after a precipitous drop in the share price. That loss of confidence translated into what the chairman in November called "considerable challenges" in obtaining funding and drove the bank into Lloyds' safe embrace.

A GBP11.5 billion capital increase became part of the bank's wider plan for survival in October when the U.K. government demanded banks here keep more capital to protect themselves in the deteriorating economic environment.

Because the share price is trading below the price at which shareholders can buy into the capital increase, shareholders are unlikely to answer the bank's call for cash, effectively yielding over 40% of the bank's shares to the government, which acts as underwriter on the share issue.

HBOS earlier Friday said economic and market conditions have deteriorated sharply since the end of September, resulting in GBP8 billion in impairments and asset write-downs in the eleven months including November, adding GBP3.2 billion in just the last two months.

At 1135 GMT, HBOS shares were down 18 pence, or 21%, at 69 pence.

-Ragnhild Kjetland, Dow Jones Newswires; [phone]; [e-mail]

[ssvsjs2] 12/12/2008 11:36

its more likley given fresh writedowns that lloyds would go down towards hbos rather than other way round, if vote goes through.

[porridge3] 12/12/2008 11:34

Isis

Lol !

[maak128] 12/12/2008 11:33

WELL look whos back the good old space tatty..... is there where u been hiding??

howz uen doin??

[isis] 12/12/2008 11:27

I think 'longterm' means 'Monday afternoon'.

[porridge3] 12/12/2008 11:26

space

why pay 70p when its now 69p, some people !

[wrightey] 12/12/2008 11:25

spacetomato-- how can it be for the long term when Lloyds will have it in a month?

[shorter killer] 12/12/2008 11:24

'I do have two positives though to provide balance, you may get a enough of a bounce after the vote and it is running at a discount to lloy, other than that the situation is dire.'

If lloy goes down further after the vote, probably there is no bounce at all for hbos. :(

[spacetomato] 12/12/2008 11:23

Have just got some £31K at 70.7p. In for the long term. Good luck all holders.

Regards

ST

[porridge3] 12/12/2008 11:12

As I say, I don't ramp/deramp, ftse stocks don't respond to BB posts, but I wouldn't be buying at these prices !, its all about sentiment, to be honest you shouldn't buy until the major support at around 60p, I wouldn't expect this today but during next week I certainly would.

I do have two positives though to provide balance, you may get a enough of a bounce after the vote and it is running at a discount to lloy, other than that the situation is dire.

Good luck one and all, but take any profits before shorting is allowed again in 3 weeks.

69p at the moment, it will test 60p next week and go through support in my opinion

[crosswire] 12/12/2008 11:07

0.0605

LLoy at £1.30

so that is 78p???

[johnwalton] 12/12/2008 11:07

some people should not be allowed to post.


23998 and 23999 are prime examples of this.

incorrect information

[rgolding1978] 12/12/2008 11:04

And why did they announce the earlier news on the day of the vote, it all seems pretty Orchestrated to me. Perhaps it gave some of the scots time to buy in cheap so they can make some money off the back of the merger when the price rises today.

[matt c] 12/12/2008 11:02

£2.32

[rgolding1978] 12/12/2008 11:01

How can i vote yes?