London Scottish Bank Share Discussion Threads

[davius] 23/4/2008 09:52

Auction at 9p. spectacular reversal, one day the biggest gainer, the next the biggest faller.

[thepinkpanther] 23/4/2008 09:51

likely reach 7.5p etc............

[grlz] 23/4/2008 09:49

that will clear a few going below 10

[davius] 23/4/2008 09:49

that's 10p gone, heading back to 7.5p? Was that just some huge con by the market makers?

Shame for the poor souls pulled in at 18p.

[thepinkpanther] 23/4/2008 09:49

anyway, good luck to those who made their profits, well done!

[grlz] 23/4/2008 09:48

bernie - AGM hasn't even started yet ;)

[pre] 23/4/2008 09:48

oh dear......its tanking.....:-(

[thepinkpanther] 23/4/2008 09:47

quraishim

don't charts have any say here!

[bernieboy] 23/4/2008 09:46

I guess the news isnt as good as hoped!

[bernieboy] 23/4/2008 09:45

wow thats one hell of a treeshake! now I am nervous to say the least! Sitting on a loss all of a sudden. poo poo.

[pre] 23/4/2008 09:45

what time's the agm? ta

[davius] 23/4/2008 09:39

SP now below the open, hope no one's too caught up in this today. Could go either way later depending on whether anything is announced at the AGM. Might be safer to stay out and watch for any sudden surge, as for the time being it's sliding.

12.75-13p

Edit: Make that auction at 11.75p, it's diving folks...

[grlz] 23/4/2008 09:29

any news of a disposal progressing as rumoured would add - the company needs to deliver a half decent strategy for the unsec division imo

[pre] 23/4/2008 09:27

this is very volatile indeed...not easy to get stock at the mo....o/t...for those interested take a look at HZM.....looks a strong recovery play after rns announced, dyor etc:-)

[quraishim] 23/4/2008 09:22

grlz...whats your opinion???? of todays AGM

[quraishim] 23/4/2008 09:18

when is the AGM???? is it 11am at Hilton????

[quraishim] 23/4/2008 09:17

wskill if there is disposal then...we might not need it.......its trying times!!!!
well there is something on for that big rise.

[wskill] 23/4/2008 09:14

will they require a rights issue for the 13.5m shortfall also at what price do you think it will be priced at,suppose it will be announced today

best rgs
wskill

[quraishim] 23/4/2008 09:13

profit takers looks like almost all out...........

[davius] 23/4/2008 09:09

Was in auction at 13p but someone's put a buy order for 50K at 13.5p. No real indication of where this is heading today.

Out of auction at 13.5-14p now.

[cn100] 23/4/2008 09:09

London Scottish Bank shares perk up



Shares in struggling Manchester-based lender London Scottish Bank jumped 60 per cent in mid-afternoon trading amid speculation the group may tomorrow announce the sale of its factoring division.

Despite the surge, the shares are still only worth 11.75p each having lost more than 80 per cent of their value since the start of the year.

One source familiar with London Scottish (AIM: LSB) said that an update on trading and news on the possible sale of the factoring division was expected at tomorrow's AGM. "This would be a great boost for the shares," he said, adding that it would be an even greater boost if the unsecured lending division had been sold.

Another source suggested that given the extent of the recent declines in the share price - this time last year the stock was trading at 113p - the shares may well now offer good value.

He also said the gain was likely a consequence of Hermes finally completing the sale of a large portion of stock held on behalf of BT Pension Fund Trustees. At one point in mid March, BT Pensions Fund Trustees held as much as 17 per cent of London Scottish's stock, a holding that had declined to 2 per cent by April 15,according to stock exchange filings.

Along with other lenders, London Scottish has struggled in the current market climate and in January it was forced to cut lending to satisfy the requirements of the Financial Services Authority following the discovery of a £13m shortfall in its regulatory capital. Since then it has cut lending to those seeking second or third mortgages and said it plans to focus on its Robinson Way debt collection business.