London Scottish Bank Share Discussion Threads

[omalaha] 12/4/2006 15:55

well. lots of activity behind the scenes with all these rns (not quite sure what some of them indicate), i think we could see another bid v.soon. still a strong hold imo.

[omalaha] 10/4/2006 16:16

adnicoll - they're just being coy!!

[adnicoll] 10/4/2006 14:35

I see the Board have come out with the inspiring response that they are considering the matter and that everyone should sit on their hands. Fighting talk !!!

[omalaha] 10/4/2006 13:34

well there we go first offer in at 115p, i reckon they'll hold out for 120p.

[omalaha] 10/4/2006 08:33

No column from Mr Lee this weekend. Can't explain the last two trading sessions, it seemed to gain some momentum from somewhere. Noticed IQE had a large rise on friday from nowhere as well. I usually regard that as suspicious,though not in the case of LSB. I'm always looking for good ISA stocks; I trade mostly resources and most of them are AIM so no good. Have to admit I'd forgotten about the divi issue with ISAs. I don't know if you go for oilers but keep an eye on EEN, they have a big drilling prospect commencing in Syria and the share price is bound to rise soon imo, also excellent ADFVN thread and it's ISA friendly.

[drectly] 06/4/2006 09:54

Omalaha
yes John Lee at the FT, I have a high regard for him so a bit biased in his favour. He sold out of LSB a while back when there was the large share drop. I held more in hope and based on dive rather than any strong positive view. He did stick with them a long time, quite a large holding I remember, it was the main reason I bought, plus wanted something with a divi each year in the ISA.
Sale was more that he runs an active portfolio than any indication of major issues. Point is he spent enough time with the existing management and it had some merits, so hopefully they are sorting things correctly.
ISA now is still handy for this sort of stuff, Brown does not let you keep all the divi but at least not taxed at 40% and you do not have to put the details on the tax form.
regards drectly

[drectly] 06/4/2006 03:03

failed
FT want the credit card, which when the US version is free in the office is not going to prise the card out for the moment. Monthly summary gave no reference to LSB although there was to other shares sold. Guess like me he does not know at the moment
regards John

[drectly] 06/4/2006 00:51

thanks omalaha
nothing of use to add from here, really just bought as a safe divi flow for the IAS investment each year (no ISA in the States. Safe stuff LSB goes down a bit and te risky is fine.)
I do not know the structure of the company well enough to simulate anyone buying and estimate a price. Lets hope we get something good in the next month or two. We can then focus on something we do not properly understand rather than something we know nothing about, which is much more fun.
I will see if I can track down Mt Lee at the FT, you do not need to know didlee squat about LSB to try that. cheers

[omalaha] 05/4/2006 17:42

drectly - i thought this mornings rise had come from a press tip but couldn't find anything. The selling could have been the CGT effect and there was a nice large buy (it didn't say it was a late reported sell) just after the close so tomorrow could be interesting. I'm no chartist but it seems to be in a nice rising trend channel, without an offer on the table it could be 112p max for now. imo the takeover rumours won't go away in a hurry.

[drectly] 05/4/2006 09:09

looks very positive tonight states, morning UK
anyone aware if there is a specific reason for rise on relatively low volume so far, just no one wants to sell ? or something else.
Divi reinvestment tomorrow, not sure if this will have any impact
or we could have a bit of sell with RI's with the new year of Capital gains
so I have not a clue but happy to watch the progress
regards drectly

[drectly] 04/4/2006 09:29

good point
although to be honest, the ongoing discussions are not certain to lead to something positve. Anyway, no obvious reason to stop holding and 107 equals about b/even with the divi this week.
in the West Coast of the states at the moment, LSB not heavily reported here, actually UK / Europe only just get a mention, so updates appreciated.
regards drectly

[omalaha] 04/4/2006 09:12

still no denial from LSB so there must be something to the rumours.

[omalaha] 03/4/2006 11:36

drectly - consensus seems to be 125p which is fine buy me but don't know about long termers; i think its 70:30 in favour of a bid appearing soon so i can't understand the selling unless those who bought in sub 95p are taking a quick profit, and why not.

[drectly] 03/4/2006 09:49

loking at shares in issue, 142m then £200 is about 140p which would be good. 125p to 130p is probably a reasonable guess and a fall back if nothing happens to sub 90p. I get it wrong when I make decisions on this one, so a quick t/o at +120 before I have a chance to get it wrong appreciated.
Where to then the next challenge
Built these up in an ISA over a few years, just transferred to the states so the ISA will not apply.
good luck to those holding

[omalaha] 03/4/2006 07:52

i originally thought a target of about 1.30 but after reading that article maybe i'll reduce it to 1.20. with the share price having dropped we may see a formal bid this week.

[tuco 1] 02/4/2006 18:20

So £200 million would be what , about £1.25 a share ?

tuco.

[qpr67] 02/4/2006 11:56

omalaha

The Business.

[omalaha] 02/4/2006 11:16

qpr67 - where's the article from?

[qpr67] 02/4/2006 06:28

London Scottish Bank a bid target

By Ben Marlow
02 April 2006

London Scottish Bank, the UK-listed bank, is bracing itself for a near £200m (E288m, $347m) takeover. The bank, which specialises in unsecured lending, is understood to have received informal approaches from UK private equity firms as well as stake-building from two active investors.
A number of private equity players have expressed an interest, but have delayed tabling formal bids because of a surge in the company's share price.
The sudden rise in the company's market value has occurred as investors, Promethean, the investment group, and US-based Steel Partners, have each built up a 4% stake in London Scottish.
While private equity firms consider their next move, speculation is growing that either of the investors could make their own approach for the bank, which was created more than a century ago.
Promthean, created by former Bank of Scotland director Sir Peter Burt, and run by his son Michael, is seen as the strongest candidate as it specialises in buy-outs of listed businesses.
London Scottish is seen as vulnerable to a bid. The company is going through management changes after its chairman designate, Alan Benzie, rejected the job. The current chairman, Trevor Furlong, is thought to be holding on until a replacement is found.

[oconnel] 30/3/2006 13:11

Damn mighty fine!!

[omalaha] 30/3/2006 13:10

there is obviously a stock overhang which needs to be cleared before this will move up, there's strong buying and the price ain't moving - either that or there is a v.large sell order in the background.

[omalaha] 30/3/2006 09:31

any guesses as to how much the bidder will value lsb at? i'll go for 130p.

[drectly] 30/3/2006 09:19

interesting to see if this is a sigh of relief due to no more bad news or something as mentioned above, a bit more interesting.
Anyway a penny or two up and the divi to come, my considered view to get out of a share going up and get some LSB looks less daft than a few days ago.
Nearly sold to go into something just a bit more interesting, but was griped by the sream of comments on the bb - nearly

regards drectly

[hybrasil] 30/3/2006 08:50

it looks like we are in for a bit of fun.