London Scottish Bank Share Discussion Threads

[meanm] 09/6/2008 14:04

Where? I think someone may be exaggerating.

[cyclingnut] 09/6/2008 11:57

man people really running for the hills now..........

[cyclingnut] 09/6/2008 10:56

guys,

anyone got an email contact for someone at the company please?

tia

[meanm] 09/6/2008 10:52

Now, now Cyclingnut. Very negative. Have some faith.

[cyclingnut] 09/6/2008 10:52

Jarvis will bounce but as for this.........

[davius] 09/6/2008 09:44

And Jarvis down too, not a particularly good day so far.

Most of my holds seem to be falling whereas my 'punts' (few as they are) are faring a bit better.

[cyclingnut] 09/6/2008 09:02

could the last person out, kindly turn off the lights and close the door behind them....thanks...

[cyclingnut] 09/6/2008 08:44

ah....another day another drop..........

[ihavenoclue] 06/6/2008 21:57

grlz - 6 Jun'08 - 19:10 - 1199 of 1199


dav - i'm keeping WAGN on monitor, may take a punt on but it ain't low enough yet

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

Ain't low enough ? LOL You could buy at 4.25p ... the rights issue is at 4p .. you won't get much lower !!! Make sure you keep in reserve 10 times when you invest in WAGN

[grlz] 06/6/2008 19:10

dav - i'm keeping WAGN on monitor, may take a punt on but it ain't low enough yet

LSB may touch 8 on the drift as there is no newsflow until the end of the month and if they are going add further charges relating to the unsecured lending business plus detail of the fundraising could be the finals before this turns round.

BUT to balance the negative with some positive views ;)- it popped on nothing after BT/Hermes completed their actions from 5 to 18 so worth maintaining a position just in case it runs prior to the "expected" news release later this month.

DYOR + imho

[davius] 06/6/2008 13:57

Hey, just be thankful you're not in Wagon, their annoucement of a 10 for 1 rights issue at 4p has absolutely pounded the shares, which are collapsing again today, down another penny to 5.25p (mid).

[davius] 06/6/2008 13:55

> NOT A BUYER IN SIGHT amidst this carnage...

Well not very many anyway...

[ihavenoclue] 06/6/2008 13:46

if you are worried then sell ... i am not particularly worried .... will get a clearer picture at the end of the month.

Regards
IHNC

[cyclingnut] 06/6/2008 12:27

NOT A BUYER IN SIGHT amidst this carnage...

[cyclingnut] 06/6/2008 12:13

What hair..........LOL!

[davius] 06/6/2008 12:00

Can't say I'm particularly worried, annoyed at my timing more than anything as I could have bought the shares for over half a penny less today. I'll probably start worrying around 8p if it continues to fall...

The banks were confident enough to agree the £85m facility so I don't think we sould be overly concerned about the viability of the business. There have been cases, of course, where all seemed well but behind the scenes things were going pear shaped. TRX, CART and recently, VAN, spring to mind. But I think in the case of LSB the banks were aware of the problems and will have been much more careful in respect of extending credit. The terms clearly indicate that if they don't raise the required regulatory capital they have to sell the business (or at least the most profitable part, Robinson Way).

Frustrating to see it still falling but not yet time to start tearing your hair out.

[cyclingnut] 06/6/2008 10:36

Davius,

Ace was amazing wasn't it!! These guys in danger of going under or am I just stressing out?!

This is now getting VERY WORRYING.

[davius] 06/6/2008 10:34

I had thought that with the recent sale and the news of branch closures we'd have least had a stable share price Slightly surprised to see it back just under 10p. This reminds me a little of Accident Exchange, I was down 40% after buying until sentiment finally turned it around and into a big profit. I would not have thought we'd fall much lower here, but my shares are paid for so will wait it out on this one (just as I did on ACE).

[m4p] 05/6/2008 21:05

i guess if we expect the worst we won't be dissapointed then? :-)

[ihavenoclue] 05/6/2008 21:02

M4P .... they are merging to save cash as mentioned in their RNS ... so positive. Not positive for the people losing their jobs in the reshuffle but the fat has to be trimmed.

The are forging ahead with making LSB more streamlined ... i don't think the share price will react too much to it, judging by the even better news on the financing deal, but i am in it for the mid term at least.

Regards
IHNC

[m4p] 05/6/2008 19:46

Davius

Is this going to be positive for the share price or not?

[davius] 05/6/2008 19:41

About time too. This was from the AGM statement, it sounds like they have brought the integration forward to the beginning of H2.


The Company has completed its review of the Unsecured Consumer Credit division
and concluded that the volumes of business cannot justify the overheads of the
two national branch networks of London Scottish Finance ('LSF') and Morses,
together with the costs of two IT systems and central support functions. The
Company intends to integrate LSF and Morses in the second half of the year in
order to eliminate duplicated costs and improve the future financial
performance of the Unsecured Consumer Credit division. The one-off costs and
asset write-offs associated with the implementation of these savings are
expected to be approximately £10m in the second half of the year. Consistent
with the Company's strategy of refocusing on the development of Robinson Way,
the board continues actively to evaluate all options in respect of the
Unsecured Consumer Credit division. Depending on which option is pursued, there
may be further significant one-off costs or write downs, which, if they occur,
would have an impact on regulatory capital.

[grlz] 05/6/2008 16:16

cyc - actions probably 20 days off - drifting in range until then I suspect

all imho