Osb Share Discussion Threads

[future financier] 08/3/2018 12:30

One week to go before results - maybe a little bit of a leak here?

[ayl30] 08/3/2018 12:15

Doing well in run up to results, very quiet here. I topped up this am

[bahiflyer] 07/2/2018 13:07

mazarin, I think its more like market short-sightedness.
OSB gets pidgeon holed somewhere between bank, building society, house builder and finance house.

So anytime there is a housing/mortgage lending survey such as has been recently OSB gets treated (wrongly) according to latest figures.

Here's an excerpt from the interims spelling out OSB's modus with regard to BTL market that should put minds at ease.

'In the main, this reduction (BTL lending), is a result of
the reduced attractiveness of the sector to the amateur investor, many
of whom have entered the market in recent years. Demand from
professional landlords has remained strong and we expect to see the
market continue to professionalise in the near term as the tax and
regulatory changes continue to take effect.

Our proposition has always been targeted towards the professional
landlord, hence these changes have had a positive impact on OSB. Our
average market share of new business increased in the first six months
of 2017, given our specialism and expertise in lending to limited
companies and large portfolio landlords.'


Results on 15th March will confirm this and the +ve trading updates since.

[mazarin] 06/2/2018 13:56

Looks like 'its legs have just given way" ....me thinks?

[mazarin] 25/1/2018 14:22

Never mind, its got legs, er ... I think...?

[future financier] 25/1/2018 11:42

Oh dear maz - your comment was somewhat ill-timed!

[mazarin] 25/1/2018 10:38

Nice to see the rise this morning, long may it continue....!

[che7win] 12/1/2018 10:14

maz,
PAG and LLOY also were very strong yesterday.

Nice uptrend here.

[mazarin] 12/1/2018 10:06

Checking through the trades yesterday there were lots of smaller buys constantly going through that pushed the share price to 414.6p at one point before settling to close at 410.4, showing there's still a strong appetite for OSB and today, so far is no exception

[mazarin] 11/1/2018 12:06

Thanks CHET, I have followed your trades and you seem to have done well enough out of OSB since I've been holding. I'll not forget your ALD buy the day before Bid came in. And also interested you haven't got back in OSB yet, no doubt have more pressing target's in mind. I've seen your interest in, TXP also doing well for you.

[che7win] 11/1/2018 11:30

maz,
the company is volatile, I have made loads trading it.

The market is much of the time irrational as far as I'm concerned.
For instance, on one occasion after a JC Flowers sale, it fell just before ex-dividend, to me largely negatating the risk of adding after Flowers sale.

It then rose a couple of weeks later and ignored ex-dividend date. Free dividend for traders.

Usually, when you find an easy way to make money, the market shuts it off.

I'm more wary now, against a back drop of falling house prices, so will only trade if I'm sure I have an edge.

O/T I do rather like TXP as an area for exposure to oil this year, but will add back here if I see an opportunity.

OSB was tipped in one of the papers this month.

[mazarin] 11/1/2018 10:56

I have held OSB for a quite a while now and never previously understood why every now again the share price quite suddenly dropped by a significant margin and then recovered within a few weeks to be back on track. I wish I'd earlier delved deeper into the RNS history and when I did, discovered JC Flowers' agenda and trading pattern. At least on this occasion, I was able to anticipate the 'sell-down' and sell beforehand, even so yesterday's recovery was so rapid, I did'nt make the most of my strategy before deciding when was right time to buy back in. It will be very a good thing when Flowers have completely disposed of their holding and allow the share price to make real progress. A day or so before the latest 'sell-down' the sp, touched £4.17. so they'll be many currently nursing recent losses thanks to JC Flowers' shenanigans, but hopefully not for long.

[future financier] 11/1/2018 08:41

Selling 10% for a 5% discount is not bad. Just think about the effect on share price when Flowers make their next sale - no more overhang to worry about!

[mazarin] 10/1/2018 20:13

At 09.03hrs today JC Flowers made a timely announcement via Alliance News Channel that it had the completed its 10% sale of its holding in OSB today.

"JC Flowers Completes Sale Of Further 10% Stake In OneSavings Bank (ALLISS) Funds advised by JC Flowers & Co LLC have netted GBP95 million from the sale of 10% stake in UK challenger bank OneSavings Bank PLC..."

So presumably they'll be making an RNS of their current holding, hopefully giving the 'lock-out' period until next Sell-off. Yet I did notice several other large sells continue to steadily drip through during the day. I briefly noted the largest Sells trades as follows :- 10.42hrs - 44,544, 11.12hrs - 25,050, 11.15hrs - 100,000, 11.22hrs - 20,000, 11.43hrs - 50,000, 12.30hrs - 40,0463, 12.26hrs - 24,455, 12.26hrs - 25,087. But there were also several large Buys building towards the end of trading, namely 16.24hrs - 251,200 and 17.13hrs - 100,000 and the total Volume of Buys were at 2.37m that exceeded Volume of 1.43m. Sells

[its the oxman] 10/1/2018 17:26

Dipped my toe in here today 398p. Hoping for a run over the results.

[mazarin] 10/1/2018 10:35

I'm back in again this morning with a slightly increased holding. I was waiting for RNS notice of Completion of the Sell off, but none came. So I expect the 'sp' will probably 'wobble' around for a while before resuming normal track towards results in March.

[interceptor2] 10/1/2018 07:38

All of the shares placed at 390p, noticed that the share price was fairly strong yesterday afternoon while the process was underway. Will be interesting to see how it performs today.

By my calculations I believe J C Flowers is down to 28m shares now or 11.5%.

[mazarin] 10/1/2018 05:23

Thanks Chet, well spotted, now we'll see how it affects the share price in coming days. Although I noted OSB recovered all of the previous week’s loss (+6.5p) in one session yesterday.

[che7win] 09/1/2018 23:10

There it is:PRESS RELEASE9 January 2018Accelerated bookbuild offering of approx. 24.3 million existing shares in OneSavings Bank PlcCitigroup Global Markets Limited ("Citi") and Credit Suisse Securities (Europe) Limited ("Credit Suisse") announce the launch of an accelerated bookbuild offering to institutional investors (the "Transaction") of approximately 24.3 million existing ordinary shares in OneSavings Bank Plc ("OneSavings Bank") (representing approximately 10% of OneSavings Bank's issued share capital) on behalf of funds managed and advised by J.C. Flowers & Co. LLC (the "JCF Funds").Bookbuilding will commence immediately. Citi and Credit Suisse are acting as joint global coordinators and joint bookrunners in the Transaction. N M Rothschild & Sons Limited ("Rothschild") is acting as the sole financial adviser to J.C. Flowers & Co. LLC on the Transaction. A further announcement will be made following completion of the bookbuilding and pricing of the Transaction.In parallel with the bookbuild, a number of existing ordinary shares in OneSavings Bank held on behalf of the JCF Funds equal to approx. 9% of the number to be sold under the bookbuild process ("Investor Shares") will be distributed to certain investors in the JCF Funds ("Investors"). For the avoidance of doubt, these Investor Shares are separate from and would be distributed in addition to the shares to be sold under the bookbuild arrangements.Lock-up commitments for the period from the closing of the Transaction until the release of OneSavings Bank's 2017 Preliminary Results, subject to certain customary exceptions, will be given by the JCF Funds.OneSavings Bank will not receive any proceeds from the Transaction.

[isaallowance] 05/1/2018 17:52

For comparison, Aldermore is currently sitting at price to tang book of 1.65 after the takeover premium. Adding a sensible takeover premium to OSB would result in p/b of at least 2.4, or more. OSB are clearly working their book really well to make the profit they do - I'm not sure any bidder could be confident of doing any better post takeover.

[isaallowance] 03/1/2018 23:38

Personally I feel a bid is unlikely - price to tang book at 1.94 is pretty high compared to other banks, and I think p/b is likely to be more important to bidders relatively than investors, for whom p/e is more important.

I hold though for the low p/e and rising divi. (only challenger bank I have left after SHAW got taken out and I sold VM)

[mazarin] 03/1/2018 14:34

Today marks the approaching 90day deadline since JC Flowers sold their last tranche of OSB. So I took today's strength as an opportunity to sell mine now, for similar reasons as Chet, as I too am expecting JC Flowers to be possibly dumping more soon. Now I'm out, of course it may not happen and only time will tell, but one thing's for certain, I won't be out for too long.

JC Flower's Notice as released on 03/10/17 is as follows:

"4 October 2017

Accelerated bookbuild offering of 20 million existing shares in OneSavings Bank Plc

Further to the announcement released on 3 October 2017, Citigroup Global Markets Limited ("Citi") and Credit Suisse Securities (Europe) Limited ("Credit Suisse") announce that funds managed and advised by J.C. Flowers & Co. LLC (the "JCF Funds") have sold 20 million shares in OneSavings Bank Plc, representing approx. 8% of the share capital in the company. The shares were sold at 375 pence per share, equating to gross proceeds of £75 million for JCF Funds.

The proceeds of the Placing are payable in cash on usual settlement terms, and closing of the Placing is expected to occur on a T+2 basis on 6 October 2017, subject to the satisfaction or waiver of certain customary conditions. Citi and Credit Suisse are acting as joint global coordinators and joint bookrunners in the transaction and N M Rothschild & Sons Limited ("Rothschild") is acting as the sole financial adviser to J.C. Flowers & Co. LLC on the transaction.

As previously disclosed, a number of existing shares in OneSavings Bank Plc held on behalf of the JCF Funds equal to approx. 6% of the number sold under the bookbuild process ("Investor Shares") have been distributed to certain investors in the JCF Funds ("Investors"). For the avoidance of doubt, these Investor Shares are separate and in addition to the shares sold under the bookbuild arrangements.

Lock-up commitments for the period of 90 days from the closing of the transaction, subject to certain customary exceptions, have been given by the JCF Funds.

OneSavings Bank Plc will not receive any proceeds from the transaction."

[che7win] 28/12/2017 10:09

Yes, FF, They will be good.

[future financier] 28/12/2017 09:11

Good luck elsewhere che7win - just make sure you are back in these in the run up to the annual results in March!

[che7win] 27/12/2017 09:26

I've sold out of here for now, 5689 shares this morning, I had bought some at 438p and 440p and more at 253p back in August 2016, over all £4000 profit + dividends.

Slight niggle about JC Flowers wanting to sell some in the new year but really I wanted to invest proceeds elsewhere.