Hbos Share Discussion Threads

[diku] 07/1/2009 13:17

good to see HBOS up...

[cool hand kev] 07/1/2009 13:15

yep rallying until the 14th I reckon

[tiggerboy23] 07/1/2009 13:13

WTF!! Are we about to break out here

[hdenandy] 07/1/2009 13:12

Blimey, what's happening ?

Pension situation resolved ?

[dope007] 07/1/2009 13:10

BT I have HBOS 5.75% bonds and haven't got a clue either. My broker phoned the MM for them who didn't seem to think anything of it and hadn't altered thier prices.

[bluetooth] 07/1/2009 10:59

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.

[colinc57] 07/1/2009 09:52

looks like its a lloyds down to close the gap with Hbos at multiple of 0.605 rather than Hbos up.

[gordonbrown] 07/1/2009 09:18

DYS up 50% today so far...

[double entry] 07/1/2009 09:13

well ?

did any of you sell Lloy ?

[gordonbrown] 07/1/2009 08:37

appolgies for the off-topic...

Talk is that there will be a 40p bid for Dyson Group (DYS), share price has risen from 10p to 15p yesterday, plenty of profit to be gained.

[checktheevidencedotcom] 06/1/2009 22:52

300p t0 68p in 3 months...think we're due for a big rise?;-)

[cool hand kev] 06/1/2009 16:42

seven days for shorts to close then

[nidgeyr] 06/1/2009 16:10

andyl - ta!

[andy_lakeland] 06/1/2009 15:16

nidgety:

link to hbos timetable.

[unicorn77] 06/1/2009 15:13

the excitement is when shorters buy back shares the share price goes up, this will help if you want to sell before the merge and will also help lloy price

[rkjones] 06/1/2009 15:11

I;m not sure what all the exitement is about shorts having to close. At current price levels there cannot be many shorters taking a hammering even if they had sold bottom of the market.

[unicorn77] 06/1/2009 15:08

did someone say 70P?

[cool hand kev] 06/1/2009 13:47

Nidgeyr: did someone say the 14th?

[k38] 06/1/2009 13:45

GOOD Q who lent Paulson 100M shares...They are all crooks and corrupt.
By the way,they do lose sometimes too :)
no far to go now...see what happes after the merge,the new bank will be safe regardless of cost(taxpayers).Our investment will make a safe return this and next year for sure.No financial stability without the banks...

[nidgeyr] 06/1/2009 13:38

Apologies in advance for the next question - but can someone advise the expected merge date?

Thanks

[dexdringle] 06/1/2009 12:45

K38 : They won't lose anything though will they. They sold borrowed shares and have the proceeds as cash. All they are required to do, at some point, is replace the shares they borrowed. The owner (lender) of the shares would have got new LLOY anyway so the shorter can buy new LLOY after the merger to return the holding to the true owner.

All shorts don't need to close unless they are naked. It's just like the actual owner of the shares having sold and sitting on cash. The shorters have just sold someone elses shares. There is no "worthless" aspect.

Naked shorts on the other hand may have to buy shares before merger to close out but the big ones are all borrowed stock aren't they ?

Maybe what we should be asking is who lent Paulson 100M shares to short as it's the lending of shares for shorting that is the problem I think.

[k38] 06/1/2009 12:24

...
I don't understand why shorters can't just buy new LLOY shares after the merger to return to the people they borrowed HBoS shares from to short ?

dexdringle

all shorts must close before the merger,or they lose ( a worthless stock ) thier shares.
The new company will start life with no (old,or new) short posisions!
At the moment i add and hold in both,and very happy to do so.

[darlingitalian] 06/1/2009 09:46

CAN ALL THOSE IDIOTS WHO KEEP CASHING IN PENNIES ALLOW THE SHARE PRICE TO REACH 100 BEFORE SENDING HALIFAX TO HELL.

[dexdringle] 06/1/2009 09:27

debbiegee

I don't understand why shorters can't just buy new LLOY shares after the merger to return to the people they borrowed HBoS shares from to short ?

If I borrowed 100M HBoS and shorted then the person from whom I borrowed will have received 60.5M new shares post merger. So I just wait and buy 60.5M shares post merger to hand back to honour my commitment don't I ?

That being the case maybe the HBoS shorters are waiting for the new group shares to be slaughtered by the return of shorting before they buy. Otherwise they'd have bought back HBoS by now and closed wouldn't they ???