London Scottish Bank Share Discussion Threads

[johnspain] 21/10/2008 15:13

cg, if you've held since before the big drop I sympathise.
I have only held for a short while at a price not a long way above where we are.
My perspective is that at these prices this represents value.I do not expect this to return to the dizy heights of last year quickly. I do hope to see 20+ on any anouncement.

[city girl] 21/10/2008 15:00

Really. This has been a slow lingering death that has dragged on for the whole of 2008.

At the risk of seeing what remains of my investment going down the pan I've reached the stage where I can't wait for the end game even if does all end in tears.

[johnspain] 21/10/2008 13:46

really?

just as a discussion point, anyone else think cattles (ctt) and lsb still a very good fit? ctt looking for a banking license and lsb have one. I know we have discussed this before, but I really do see synergies here. ctt to issue statement by Thursday I believe.
Note: this is not a ramp, I have no idea what ctt will be announcing.

[city girl] 21/10/2008 13:43

I think this is looking increasingly like a slow motion train crash!

[cyclingnut] 21/10/2008 13:38

Either way we will know something soon...

[m4p] 20/10/2008 18:49

CG

Yes but the "for sale" board didn't say RW!

IT WILL HAVE TO AFTER THE 31ST!

If nothing is announced b4 this time

They need to get their fingers out and very fast ,

talk about last minute!

[superjane] 20/10/2008 13:10

LSB participating in the DMO managed credit guarantee scheme?

[andrbea] 20/10/2008 11:19

ctt now 61%

could they (once ctt regains its financial health) be seen as a predator for lsb ?

nia dyor

[davius] 20/10/2008 10:41

CN, there are some strange things going on in the financial sector. Take a look at Cattles (CTT), up around 50% today.

Anything can happen here, can't say I'm either optimistic or pessimistic. And neither is the market. Some big buys but sellers keep the price down. Given that this has hit some serious lows it could be that any selling is simply profit taking. After all, if I'd picked up a million shares at 3.5p then selling them around 4.5p would be a good return.

I don't hold many and would be happy to get my average back, which is 8.88p. These are in my ISA so no opportunity to average down, even if I wanted to.

But do I expect the worst? No, I think they'll come up with a deal of some sort.

[johnspain] 20/10/2008 10:27

davius,
thanks.
cycl, speak for yourself, i'm not expecting the worst.
someone has just picked up 800K of these.
see how quickly it moves when there is interest.

[cyclingnut] 20/10/2008 10:14

davius,

ARE you expecting the worst as well? Wonder at what price the -5.33% short guy started shorting these babies?

[davius] 20/10/2008 10:03

There was, but it was taken out by an auction trade of 44K, then a 250K sell, a 100K sell and and 406K sell.

Now MMs on the spread, 4.39-4.8p.

[johnspain] 20/10/2008 09:56

davius,
can't see L2, is there a buy order for 800K?

cheers, John.

[davius] 20/10/2008 09:50

Spike up on some quick buys then and an 800K buy order at 4.7p has taken the spread up to 4.7-4.9p...

[city girl] 20/10/2008 08:54

Here's someone else saying the sale board has to go up.

The sale board has been up for ten months now and those potential buyers that have sniffed around all seem to have done a runner. This requirement to put the company up for sale seems to be a red herring - it changes nothing. What will change things is the banks withdrawing their support which looks a possibility. Then we'll see our paltry 4p become what 2p? 1p ? Gloomy times I'm afraid

[m4p] 19/10/2008 14:18

one thing is for sure they have no news at the moment and there is less than 2 weeks to go b4 the for sale board has to go up

then the share price will tank

lets hope they get some news out pronto!

[johnspain] 16/10/2008 15:19

well I too think there might be a shock, but I DO think it will be a pleasant one. pay your money, take your choice.

[city girl] 16/10/2008 15:15

When I said I think we might get a shock I wasn't suggesting it would be a pleasant one!
I reckon the large gap between the balance sheet total asset value and the current market cap of £5.7m might have been largely eroded. In other words we'll get a rather nasty shock once LSB comes clean with some figures.
That's why the supposed talks with prospective purchasers have, after ten months, gone precisely nowhere and probably never will.

[davius] 16/10/2008 14:57

Is it because you own shares cycling?

;-)

[city girl] 16/10/2008 13:51

i'd like to think you're right.
Sadly, I think there's a triple whammy here of nobody in the wings ready to buy; no prospect of the regulatory shortfall being bridged and continuing (large) trading losses.
Last time it was disclosed to the market the total net asset value of the group was many times the current market cap of £5.7M. That's why I bought in. I wonder what it is today though? I think we might get a shock when we find out.....

[johnspain] 16/10/2008 12:11

this is a very simple situation.
either you believe that the business or part of it is worth more than todays share price or you don't. I believe it is and value usually surfaces in the end. The question is how long and in what form.
I think the bad news is all in the price as is a lot of other bad sentiment.
would anyone want a debt collection business in a recession? seems a pretty good money spinner to me.

[davius] 16/10/2008 12:08

Oops, wrong thread...

[cyclingnut] 16/10/2008 11:54

anyone got any comments on the debt mountain?!!

[davius] 16/10/2008 11:54

> if there's no buyer now there's no buyer period.

I think there's a difference. Currently the company is trading and independant. By the end of October if it hasn't sorted itself out it HAS to sell part or all of the business. If you were a potential buyer would you prefer to negotiate a deal now or when LSB has no choice in the matter, sell or go bust?