Lloyds Grp 9.25 Discussion Threads

[loglorry1] 19/4/2018 07:30

Don't forget the institutions who hold these prefs will have a few things to say to Lloyds if they come out and state that they intend to cancel.

[cwa1] 19/4/2018 06:57

Just in case anyone hasn't seen this potentially important intervention by the FCA:-

[yupawiese2010] 17/4/2018 10:54

Latest update.

[yupawiese2010] 15/4/2018 16:21

LLPC /D

From Mark Taber`s FII twitter feed.

Interesting that 'redeemable' was a defined term in the HBOS Preference Shares terms with the definition being somewhat different to what Aviva claimed its legal meaning is in its claim that cancellation is something different -

redeem, redemption and redeemable - when a share is redeemed it goes back to the company for a sum of money which was fixed ( or calculated from a formula fixed ) before the share was issued. This process is called " redemption " . A share which can be redeemed is called a " redeemable " share.

[loglorry1] 14/4/2018 11:51

Yet another twist.....

[loglorry1] 13/4/2018 13:49

Thanks Joe - I'm on it too. Might be worthwhile folk posting the sort of things they wrote if they don't mind to provide some inspiration. It's important to include your own words and own situation however.

[trinders] 13/4/2018 13:42

Have done so, thanks for providing the addresses.

[joe say] 13/4/2018 13:37

Have done so - including copying to my MP

Will give him something to do between completing expense claims

[loglorry1] 13/4/2018 12:50

I would urge holders here to write to the following addresses expressing your concern for the situation and asking for clarification on the loophole which seems to have been highlighted.

Address your lobbying letter to:

The Rt. Hon. John Glen MP - Economic Secretary
HM Treasury
1 House Guards Road
London SW1A 2HQ

Email address: [e-mail]

Copy it to:

Mark Steward (who is the FCA Executive Director Enforcement & Market Oversight) via his PA whose email is – [e-mail]
Nicky Morgan MP (Chair Treasury Committee) – email: [e-mail]

Also copy the letter to your MP with a covering note asking him / her to raise the matter with HM Treasury on your behalf. This is very important.

[folderboy] 11/4/2018 08:25

I had a very positive response from my MP - for whatever that is worth.

[yupawiese2010] 11/4/2018 08:23

Large insti`s write to John Glen economic secretary to the treasury.



Good to see the pressure being applied.

[trinders] 10/4/2018 11:53

yupawiese2010 - thank you for a useful link.

[yupawiese2010] 06/4/2018 16:34

( no position )

[jamielein] 04/4/2018 17:24

These are not ex dividend yet.

I pointed out on twitter earlier that there's now an interesting disparity between LLPC and LLPD. LLPC have been falling while LLPD have remained relatively static.

LLPC - 9.25p dividend, price 152-153p (approx. 6.07% yield)
LLPD - 9.75p dividend, price 166-168p (approx. 5.84% yield)

So LLPD are trading at a premium to LLPC.

Yet you'd expect LLPC to be at a premium because there's a lower downside (53p downside instead of 68p) if they cancel them at par.

LLPD should fall to £1.60 (or slightly below) to have the same yield as LLPC if the market is efficient.

It's possibly because LLPD are more illiquid and haven't been traded (sold) as much.

[my retirement fund] 04/4/2018 16:48

Are these ex div now ? Or or is this others whom have come to the same conclusion as me and no longer feel they can trust Lloyds?

[carcosa] 30/3/2018 04:16

Or see the letter yourself at

Given the supreme work that Mark Taber has accomplished over the years readers may wish to make a donation at

[yupawiese2010] 29/3/2018 16:18

If one migrates to twitter you can observe the open letter that Mark Taber has sent to Lloyds in respect of their pref shares.

[my retirement fund] 27/3/2018 11:42

Ironic on reflection. I know I was taking on risk given Lloyd's form.However the very reason I have been unable to continue hold, is because of fear of the very people who are supposed to be there to protect me.

[future financier] 27/3/2018 08:44

That letter is dynamite - heads should roll at FCA and Aviva (and Slaughter's?) for this. But I doubt they will!!!

[my retirement fund] 27/3/2018 08:39

Switched mostly into GA 8.875 as they have around 2p divi built in and so present yield about 5.8% and at least I can sleep at night !

[my retirement fund] 27/3/2018 08:20

Yes Mark revealed it in his open letter, apparently he was told last week during a meeting with Aviva.I knew they were highly negligent during the Lloyd's ECN twisted early redemption just hiding behind legal proceedings and taking no action nor making any comments.However this revalation not only shows they are negligent but are complicit with others whom seek to profit from the unfair and unjust treatment of and behaviour against retail investors.

[yupawiese2010] 27/3/2018 08:03

F.F - Go to the fixed income board, look at the open letter that Mark Taber sent to MP Nicky Morgan, that I posted.

[future financier] 27/3/2018 07:47

MRF - what is the basis for you saying that FCA knew about Aviva's plans in advance?

[my retirement fund] 27/3/2018 07:28

I cut my Lloyds holding further given the revelation the FCA knew about Avivas plans in advance and did nothing.I see Mark Tabier is looking at pressuring Lloyds for a statement but I rather suspect that may fall on deaf ears.