Nbnk Invest Share Discussion Threads

[eezymunny] 20/3/2017 15:28

Had what looks like final payment here today, at least with one broker, of 2.19p/sh so final total c. 35.67p. Takes a long time to wind up a company that never did much!

[eezymunny] 11/4/2016 07:05

Game over by the looks. My guess a 35p return.

[techno20] 10/4/2016 06:58

Assume we'll get some news tomorrow. Suspect if a deal had been done it would have been announced on completion, so likelihood is return of remaining cash, which should be around 37p. Hope we don't get another extension - surely they've now had long enough!

[mick] 30/3/2016 09:49

Any views on likelihood of NBNK proceeding with a deal before 11th April deadline?

[techno20] 20/7/2015 21:26

Bought 25k first thing this morning. Not appeared on trades data for some reason.

Been watching these for a couple of years and with possible cash distribution 20% above the current value only 6 months away it feels like the risk : reward is pretty favourable.

Could still be a deal done, particularly given the strength of Virgin Money, Aldermore, One Savings. Not too many other challengers out there, but there are some - ATOM, Charter Court, who could well see Nbnk as a cheap route to a float. Time will tell.

Also influenced by the success in recent months of Chrystal Amber. With two deals just finalised I suspect they may well turn their attention to Nbnk.

GLA

Techno

[little minx] 25/6/2015 17:47

Nice one Tree - lol

[ibans] 25/6/2015 10:07

I doubt that very much treeshake. I think your credibility would take a hit on that.

This one will be a very costly invesment for anyone seeing as wilbur is strugglinig in greece and that's not including the £30 mill wasted on fresh air to date.

Legal costs alone make this a certainty to be wound up and a return of what's left (instis first) to shareholders.

^ 6 months left before it becomes a reality ^

For the record the tip to get people piling in was "bait" You will have noticed how it had the complete opposite effect. ie "Someone bailing out"

Toodle pips.

[treeshake] 24/6/2015 22:07

New bandwagon arriving here soon

[colonel a] 27/3/2015 11:18

Somebody has piled out I guess, but not reported yet.
A bargain opportunity ?

[envirovision] 26/3/2015 11:36

By the way hedge fund wizard thank you for your post.

Are you following any other similar funds of interest ?

[envirovision] 24/3/2015 09:30

ahhh, im cashing in then

[hedge fund wizard] 24/3/2015 01:05

I think you'll find that this was tipped over the weekend in a newsletter. Hence the spike this morning, with the tip-followers piling in.

[eezymunny] 23/3/2015 13:53

It's just very very illiquid. Moves 10% on a couple of grand of trades.

My reading of CRS statement today is that they are "gathering evidence". May be some time before a decision to press ahead (or otherwise) with litigation...but who knows?

[envirovision] 23/3/2015 13:47

Well it will be interesting to find out what is going on behind the scenes, which we may get to know ahead of the full year results if the share price goes nuts as they will be forced to issue a statement on price movement.

[eezymunny] 23/3/2015 13:43

It's up today presumably bcoz a few buyers read this



"We continued to engage constructively with NBNK's main shareholder, Wilbur Ross, and director, Lord Brennan, as well as former board members of the company. The Fund maintains the view that NBNK has scope for a legal case against Lloyds Bank over the failed sale of the 631 Lloyds TSB and Cheltenham & Gloucester branches, in 2011."

[envirovision] 23/3/2015 13:42

I rather suspect if they are going to make a move, now is the time to do it whilst TSB is in full play, there are now at least two parties who would be keen to stop NBNK creating waves (if not three), which would obviously be an out of court amicable settlement.

[eezymunny] 23/3/2015 13:37

Hmmm I've been hoovering up all the loose stock at 34p and below Eurovision. That's 10% below net cash. Given the potential lawsuit (£100's of millions) the risk reward looks fab. However most likely nothing happens IMO.

I'd love it if they could persuade Juridica (or similar) to take on LLOY on a risk free basis (to NBNK).....and if not simply to cash out.

Will be interesting to watch but I expect a lot of protracted silence.

Dream dream dream...a £500m win would be a nice 20+bagger ;)

[envirovision] 23/3/2015 13:27

I wonder if there is an out of court settlement to be had here, otherwise they could put an injunction on the sale and throw all manner of spanners in the works until Lloyds start to play ball.

Market makers have clearly gotten wind of something.

Surprised the thread is so quite!

[konkel] 04/3/2015 14:06

Great, thanks.

[envirovision] 04/3/2015 13:49

It was in Crystal Amber summer update by Numis:

here

[konkel] 04/3/2015 13:36

eurovision....where do you see this info regarding the additional £600m? Thanks

[envirovision] 04/3/2015 10:34

Are we in play? Given Lloyds recent dubious involvement with the FSA/FCA and PRA over its ongoing ECN fiasco, it really is looking highly likely to me at least that NBNK got completely shafted. (IE. an FCA director being an EX Lloyds director of risk, PRA showing recent incompetence by releasing false market sensitive information, etc.

37 odd pence currently held in cash. From majority activist shareholders 2014 update:

The manager notes that if NBNK is able to demonstrate that there was
misrepresentation by Lloyds Bank in the sale process, NBNK may seek to recover not only the £20m but up to an additional £600m (1,110p per share) of lost profit which it was denied as a result of a potentially flawed sale process.

[opaldouglas] 26/11/2014 15:46

CRS upped their stake again last week and we've had trade today. Its all getting a bit too much for me ;)

[opaldouglas] 03/11/2014 12:52

Few trades in the last couple of days.

Mcap lower than cash in the bank again.

OD

[opaldouglas] 15/10/2014 10:37

Lord McFall to become Atoms senior director (was previously director of NBNK).

New bank being lined up to start next year... a possibility for NBNK to get involved?

Answers on the back of a postcard please.

OD