Nthn.elec.prf Discussion Threads

[8w] 31/1/2024 13:15

NTEA an interesting diversification from Bank prefs.

[4spiel] 31/1/2024 00:27

Basel111 provisions about pretence shares not being Tier1 applies to Bank shares this arising after the 2008 financial cris and takes effect in 2026 sometimes I have read 2025.But it does not apply to non bank shares so they can only redeem in any case if Irredeemable if the company went into liquidation.

[irredeemable] 29/8/2019 11:29

I have NTEA shares. I note that they are described as 1p shares. My share portfolio caught a cold when, in March 2018, the Aviva CEO announced that they were going to cancel their irredeemable prefs and buy them back at or about their issue price. Aviva backtracked within a couple of weeks but all my preference shares took a hit from which only Aviva and Ecclesiastical have recovered. My research tells me that in 2026 prefs will not be eligible as regulatory capital so I am thinking come 2026 companies might be tempted to cancel their prefs. Does anyone else fear this? Does anyone know that if this does happen with NTEA shares they will be bought back at about 1p. It appears that the words redeemable and irredeemable don’t mean quite what we think they mean.