London Scottish Bank Share Discussion Threads

[wongman] 30/5/2008 13:34

City Girl, are you actually a girl or a man pretending to be girl?

[city girl] 30/5/2008 12:08

Sorry Honey, you say something?

[ihavenoclue] 30/5/2008 11:16

CG ... price breakout a rumour ? has the disposal been announced then ? No

[city girl] 30/5/2008 11:13

This is definitely a hold and you're right about potential values. My only beef is the time its taking to restructure.....and I know I'm impatient before you all tell me again.

[davius] 30/5/2008 11:10

"He said Robinson Way could be worth up to £78m."

If we assume they need to raise £10m via a rights issue (and I think that number is pessimistic) they could do a 1 for 1 at 7p per share.

That would put them on an share price of around 27p post rights (to get a value of £78m).

Average buy price now would be about 9p (1 at 11p and 1 at 7p).

So a 200% increase possible, a trebling of the share price

A hold indeed.

[jawat] 30/5/2008 10:53

check out the manchester evening news write up v interesting , robinson could eventually be worth up to 75M ,dyor

[city girl] 30/5/2008 10:51

Hi honey, still around? I see another week has gone by with the price breakout still just a rumor.

[ihavenoclue] 30/5/2008 10:45

wirralfinance - 30 May'08 - 08:39 - 1062 of 1073


IHNC: Had a look at that other BB now I reckon you have to come clean and fess up about the infltable? Its not City Girl posting is it, come on tell the truth.

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LOL ok .. i confess ... i have a whole troop of them and even a group under the section "farmyard" ... but that's strickly a weekend pursuit ;-)

[grlz] 30/5/2008 10:42

M4 - I actively trade all my stocks when the spread allows and i'm top heavy in LSB as a portfolio % so its a near-term move to manage my T trades - AXA have made a 2nd reduction in as many days providing near term risk I can live without going into the weekend - I still hold a chunk averaged just above 5p which is a firm LT for all the reasons DAVIUS states more eloquently than I unless the share price really slips

[davius] 30/5/2008 10:35

Well 1.2m is still only £130K worth or so, could be small holders but more likely one of the institutions I would have thought. The other option is it's just MMs selling stock, the share price has been sitting in a fairly tight range for a while now so the MMs might expect to be able to buy back without too much trouble.

I'd rate this as a solid hold for now. The funding provided by the banks demonstrates confidence that the business remains highly viable, though we could be looking at post rights for a decent recovery in the share price.

[ihavenoclue] 30/5/2008 10:28

M4P ...

AXA Framlington 300,000 0.21070

Daimler Chrysler
Indirect

They sold all 300k shares ... they were on yesterdays RNS but not todays.

[m4p] 30/5/2008 10:08

grlz

Why did you just sell I'm a bit mystified?

Davius Where is the stock coming from AXA?

[davius] 30/5/2008 10:04

Another 200K buy above offer at 11.5p.

That's about 1.2m in 4 large trades since the close yesterday.

[grlz] 30/5/2008 09:56

hmm AXA maybe offloading - I have just sold some 15k blocks above 11 with a view to buying back back later (TDW trying to stiff me with a 10.742 quote for anything over 15k) - Maybe the wrong call as news could pop on the sale of InvDis but i'm a little top heavy on this one on T10s so don't want to risk AXA dragging the price down

[m4p] 30/5/2008 09:51

Probably same buyer as last thing yesterday

surely not much free stock around at moment?

[davius] 30/5/2008 09:23

They were both delayed from an hour or so ago, but one above offer. Someone simply has to be accumulating...

[lagos40] 30/5/2008 09:19

300K purchase just gone through @ 11.25 ??

[lagos40] 30/5/2008 09:17

355K purchase just gone through @ 11.5 (O)

[grlz] 30/5/2008 00:45

M4 - Depends what you mean by "obligations under the agreement" - LSB as a "bank" needs to hold what's called Regulatory Capital, the minimum level is determined by the FSA based upon the risks inherent in a LSB's business lines.

LSB are currently short some £13m of what's deemed appropriate and have been in consultation with the FSA to remedy this - yesterday's news and past announcements are the process they are following in solving the issue - BUT on the brightside the FSA is not penalising LSB with fines so it appears the management team at LSB are dealing with the issue in an orderly fashion.

Mean - good point and one which gives LSB real value going forward long term as I can see company eventually renaming to RW once all the restructuring is complete under a new capital regime - freeing up considerable funds to expand the business

DYOR

[meanm] 30/5/2008 00:23

Another point.

When the Factoring division has been sold, the regulatory required minimum capital LSB needs will not only be met through the funds generated by the sale, but also as a consequence of that division not being owned by the company itself and, therefore, no regulatory capital being needed to be held against it's business interests.

So, even if LSB made £8-£10 million, for arguments sake, some of the remaining £3.8-£5.8 million will cease to be an issue as LSB are no longer required to hold capital for the Factoring side of the business.

The FSA will be required to re-assess the regulatory requirement.

Just a little thought.

[m4p] 29/5/2008 23:58

thanks grlz

The company only needs 13.8 million to cover its obligations under the agreement?

Obviously they will try to raise more tho?