London Scottish Bank Share Discussion Threads

[ihavenoclue] 29/5/2008 10:49

They were not notified until the 13th May 2008 ...

"LONDON SCOTTISH BANK PLC (the "Company")

DIRECTOR SHAREHOLDINGS

The Company was notified on 13th May 2008, that Peter Cordrey, Chairman, had,
on 8th November 2005, purchased 7,078 shares in the Company through a Corporate
ISA (ex PEP) at a price of 78.85p per share.

The number of shares held by Mr Cordrey on appointment as Chairman of the
Company, on 17th April 2007, was 7,078 shares (percentage of issued share
capital .005) and the total number of shares held by Mr Cordrey is currently
67,078 shares (percentage of issued share capital .047)."

Just an oversight ... but a pretty strange one. He also bought 60k shares in the last year ... 50k x 100p in July 07 and 10k x 92.5p in August 07. Some people have mentioned that director buying should force up the share price .. didn't exactly work last summer and they are still holding those shares.

[johnspain] 29/5/2008 10:37

yes, just read the date 2005! why rns it now?

[sa0705] 29/5/2008 10:35

john

wasnt that 3 years ago...but just rns'd now?

bloody hell that was late.

[johnspain] 29/5/2008 10:34

probably already discussed, but what's this about a director buying shares at 78p?

[jawat] 29/5/2008 09:54

15M - if that is the case, that would be a great result

[ihavenoclue] 29/5/2008 09:51

M4P .. was thinking the same thing .. expectations i heard were between £8 - 15m ... so is £15m a good price ??

Comments welcome

Regards
IHNC

P.S. If they have a price mentioned then the disposal RNS can't be that far away. Tomorrow would be perfect for me.

[sa0705] 29/5/2008 09:44

15m is that it?

[m4p] 29/5/2008 09:42

Is that a clue as to what they are expecting to receive for the factoring business?


Following the planned sale of the Group's factoring business and the completion of the planned equity capital issue the facilities will be reduced by an amount expected to be £15m and thus total £70m.

[ihavenoclue] 29/5/2008 09:26

LOL Well that celebration didn't last long !!

[quraishim] 29/5/2008 09:05

London Scottish Bank celebrated a new bank facility with a gain
of 3/4 of a penny to 11-1/2 pence. Subsidiary Robinson, Way & Company has
entered into an agreement for a new medium term revolving credit facility for up
to 85 million pounds, which will be used principally to support the growth of
Robinson Way's debt purchase business.

[ihavenoclue] 29/5/2008 08:51

did all my topping up yesterday ... phew !!

[quraishim] 29/5/2008 08:32

thanks wirral.....should be announcement soon.

[quraishim] 29/5/2008 08:10

this share was kept down for weeks at this level...now i presume they have better standing to sell the factoring business at decent price as they are not under pressure.

[quraishim] 29/5/2008 08:04

lagos u are correct...this is a mark of confidence, a set up which was valued at £100 million last year!!!!!!

[quraishim] 29/5/2008 07:48

Good news takes away all the doubts of its survival....
"The facility agreement is a significant and successful first step in our plans
to re-capitalise the Company. It allows LSB to pursue its strategy of growing
and further developing the successful Robinson Way business which is
strategically well positioned in a growth market."

[lagos40] 29/5/2008 07:47

Wirral

A day to top up I think, I believe you are pretty certain it is only a matter of time before the Factoring Arm is sold correct?

[m4p] 29/5/2008 07:46

Is that a clue as to what they are expecting to receive for the factoring business?


Following the planned sale of the Group's factoring business and the completion of the planned equity capital issue the facilities will be reduced by an amount expected to be £15m and thus total £70m.

[lagos40] 29/5/2008 07:35

"New Syndicated Bank Facility"

Is this the start of the good news we have been anticipating, or at least a move forward and in the right direction?