London Scottish Bank Share Discussion Threads

[meanm] 02/6/2008 22:57

As I said before, the FSA will need to look again at what the new capital requirement is, as the sale of LSIF will clearly bring down the scale of the requirement.

The capital requirement will no longer be £32.5 million. How can it be when one of the areas of the business that was "factored in" (no pun intended) has been sold?

[m4p] 02/6/2008 22:53

Is this a good deal or not?

Got to confess I don't really understand what it all means

[ihavenoclue] 02/6/2008 19:50

wirral ... exactly ... the market seem to be asleep on this one today.

[ihavenoclue] 02/6/2008 17:55

grlz - 2 Jun'08 - 16:35 - 1128 of 1128

I guess the muted reaction today is the market expects a large dilution plus BB's arrears situation has not helped confidence with how the market will judge LSB's future impairments

===================================

Not if they can do simple maths ... the RNS this morning has shown there WON'T be the huge dilution that has been expected.

With the funding RNS this is what the market was worried about

"If regulatory capital of a minimum of 32.5 million pounds is not raised by Oct. 31, 2008, the facility's maturity date will be brought back to May 28, 2010. Also, in such a case, the company has agreed to take steps to effect the sale of Robinson Way or the group by June 30, 2009."

Now they have £28.5 million towards the £32.5 million ... now take the one away from the other and you get £4 million - approx. 25% of market cap.

The market reaction today has been strange as it is in a MUCH better position than when it shot up to 18p last month. But that is the stock market .. sometimes takes a while to sink in. I think LSB's mid to long term chances have took a HUGE boost today and i am happy to be patient.

Regards
IHNC

[grlz] 02/6/2008 16:35

tom - if ur order was filled quickly u probably soaked up most of what I sold into this news, made a quick turn buying back on the close ;)

How large is the rights issue/placing going to be now the LSB have covered off the banking and sold LSIF? I guess the muted reaction today is the market expects a large dilution plus BB's arrears situation has not helped confidence with how the market will judge LSB's future impairments

wirral - Good call with the buyer, u work for LSB or something?

[moormoney] 02/6/2008 16:09

very quiet reaction to good news are they all asleep??

[mart1501] 02/6/2008 09:09

qura ... thought you gave up a while ago ? LOL

[quraishim] 02/6/2008 09:02

50k for me at 11.45p.........on the plus system first thing this morning

[lagos40] 02/6/2008 08:53

Just topped up 50K+ but took almost 50 minutes for the trade to get done??

[tomandgerry] 02/6/2008 08:35

Hi All,

Just bought 160k at 11.5p.

[quraishim] 02/6/2008 08:12

This is very good news under present climate....they have got twice for the factoring business.....and they secured the finance for the future....this should go up considerably.

[sa0705] 02/6/2008 07:53

disposal for £28m?

if that is right its almost twice the current mcap

[lagos40] 02/6/2008 07:50

Morning all Disposal of factoring business announcement!!!

[sleepy] 02/6/2008 01:23

Yes - very odd. They refer to trades in April so there may have been one or more slip-ups or problems along the way.

[sleepy] 01/6/2008 20:59

tomandgerry - i think IHNC says more than his prayers. I can see no evidence that BT have bought back in and now hold over 7%.

[tomandgerry] 01/6/2008 20:54

IHNC

Thanks for that. I look forward to the morning......

[ihavenoclue] 01/6/2008 20:01

tom ...

hi ... well i do. BT pension fund selling is what caused the drop from the 30p area all the way down to 5p. I think they had about 15% of LSB and finished selling when they had 2%. Now they have bought back in and hold 7.78% ... so they hold half of what they did before but it is the fact that they bought back in and in a pretty good size that has me thinking we shall see a rise up to 15 - 20p soon ... and then the disposal news may well help the share price on it's way north. It does explain why the price was held down last week even though some pretty sizeable buys went through and now we know who was buying.

Add to that Hermes upping their stake from 5m to 8m shares and that certainly looks like the news on the £85m deal has given them confidence to get back in. it also makes me feel confident with my initial buys and top ups last week.

It should be a very interesting week IMHO

Good luck in all of your investments.

Regards
IHNC

[tomandgerry] 01/6/2008 18:56

Davius/Ihavenoclue

I recognise you both from other boards (EEL, CFM, BRM) and I have done well on two out of those three lately. There was a mention on today's EEL BB of the odd timing of the two latest RNSs here so I dropped in to have a look. I know nothing about LSB but I am checking out as much as I can with a view to a quick punt in the morning. All my stocks are long term and I have never day traded or shorted. On the face of it, this seems like an oportumity to catch a quick rise but I am obviously on a very tight timeline. I will DMOR of course but I value both of your opinions and I take it you have held here for a while. Do you expect the news of recent large buys by the two instis to lift the LSB share price in the morning??
TIA,

Tom

[sleepy] 01/6/2008 17:10

ihavenoclue - the two recent announcements refer to trades that took place on 8th April at which time the holding appears to be 7.7%.

Please explain - if you can - your reference to my "shorting threads".

[ihavenoclue] 01/6/2008 17:01

Sleepy - 1 Jun'08 - 16:57 - 1108 of 1109 (Filtered)

Saw your shorting threads ... try and short LSB ... i dare you !!

[ihavenoclue] 01/6/2008 16:59

Fallen ? Idiot ... last RNS for BT Pension held 2% ... it is now 7.78%. They caused the drop from 30p down to 5p by their selling. And Hermes did have 5 million and now have 8 million.

Trades took place weeks ago ? Yeah that would explain the big chunk buys all the way up to, and including, friday.

Try deramping another share LOL