Paragon Banking Share Discussion Threads

[phillis] 07/8/2017 15:19

wrong move Suet

[suetballs] 01/7/2017 18:33

Took my profit yesterday - out for now.
Suet

[suetballs] 30/5/2017 13:47

Car leasing looks like it could become an issue. Thoughts anyone.
Suet

[suetballs] 22/5/2017 19:47

Interim results tomorrow.
Hopefully good news.
Suet

[future financier] 09/5/2017 13:45

.... those were the days - we used to get real movement in the share price every day. Thank goodness I didn't lose my nerve (even when down >50%). Just a shame I had to cash out early on the way back up!

[the drewster] 09/5/2017 13:26

90% discounted share issue ...:

The Company proposes to raise approximately £287 million (before expenses) by
way of a Rights Issue underwritten by UBS in full. The Rights Issue will take
place alongside a Share Consolidation under which the Existing Ordinary Shares
are to be consolidated into £1 Ordinary Shares on a one for 10 basis. Pursuant
to the Rights Issue the Directors propose to offer New Ordinary Shares at £1 per
share to all Qualifying Shareholders on the basis of five New Ordinary Shares of
£1 each for every two Existing Ordinary Shares of 10 pence each that each
Qualifying Shareholder holds at the close of business on the Rights Issue Record
Date.

In effect, taking into account the Share Consolidation, the Rights Issue offer
is being made on a 25 for one basis and at the Rights Issue Price of £1 per £1
New Ordinary Share.

In effect, this represents a 90.2 per cent. discount to the Closing Price of an
Existing Ordinary Share of 102 pence on 10 January 2008. If a Qualifying
Shareholder does not take up any of his entitlement to New Ordinary Shares, his
proportionate shareholding will be diluted by 96.2 per cent. However, if a
Qualifying Shareholder takes up his rights in full, he will, following the Share
Consolidation and the Rights Issue being completed and subject to the treatment
of fractions, have the same proportional voting rights and entitlements to
distributions as he had on the Rights Issue Record Date.

[future financier] 09/5/2017 12:39

... allowing for the 10:1 consolidation in 2008 it needs to rise to £75 to make a record high!

Happy days when it gets there.

[phillis] 09/5/2017 11:29

Yes Drew
Agree
ADVFN only goes back 7 years on the quote page
DIT

and it is a pretty different business model now

[the drewster] 09/5/2017 11:23

All time high???

Before the 2008 emergency rights issue to salvage the company from the brink of collapse, the shares traded at over £7 (early 2006 - and I know because I sold some).

Stock is scarce, but looks fully valued to me.

[future financier] 09/5/2017 10:43

Can we have an end of "End of ....."!

[phillis] 09/5/2017 10:37

SP still rising
PAG must be doing something right - including buybacks

All time high, still time to get in

End of...

[shaker44] 30/4/2017 20:48

Effortless cool filtered. Don't let 2 bit bookkeepers show off their lack of knowledge.

[effortless cool] 30/4/2017 17:14

Phillis28 Apr '17 - 15:07 - 2665 of 2668 0 0 (Filtered)

shaker4428 Apr '17 - 17:38 - 2667 of 2668 0 0 (Filtered)

That's better!

[effortless cool] 29/4/2017 17:30

Edit: Belated New Year resolution - don't let know-nothings on bulletin boards wind you up. Jut use the filter.

[shaker44] 28/4/2017 17:38

But this time at least he is right!

[effortless cool] 28/4/2017 16:00

Posting an unsubstantiated assertion and then adding "end of" does not, in fact, end anything (except, perhaps, any claim you may make to being a credible poster).

[phillis] 28/4/2017 15:07

Most institutions prefer buybacks to divis
That is why there are so many companies doing same
End of

[the drewster] 27/4/2017 08:45

shaker44 - yes, so long as they then cancel them rather than filling exec pockets with them (via nil paid options or creative "incentive" schemes.)

[shaker44] 25/4/2017 23:46

Nope. If a company feels the best use of their cash is to buy in shares, they are usually right in my experience. They are very well placed to assess when their share price undervalued the company. Of course not in every case, but analysts like to see buybacks for good reason. Shrink the equity and increase returns in equity. Makes perfect sense.

[soundsplausible] 25/4/2017 23:31

The market determines the share price not a buy back. If buy backs put a floor under the share price, then put every penny you can get your hands on and put it into any company that does buy backs. You will in one single move be on a one way trip to richness. Sadly it doesn't work like that.

SSE is currently doing a £0.5B buy back which started when the share price was ~£15, we are now below £14 and it looks like the only way is down.

Buy backs lack imagination. Companies should be putting every spare penny to work, either plough it into the business to give a ROI or buy some other company to help push the profits up. Failing that give it to the shareholders who'll find a better use for it elsewhere.

[shaker44] 25/4/2017 13:39

I don't agree. It puts a floor under the share price and all buys help it move up. Far sooner see that than companies making acquisitions unwisely.
Many investment trusts buy back at a discount to reduce that discount.

[soundsplausible] 25/4/2017 08:05

In general I hate companies that buy back shares. This (as stated in previous posts) is all for the benefit of the board, who do not get bonuses based on the share price performance. It does effect the EPS which can be their rule of measure how well the company is doing, linked to bonus. Give the money back to the shareholders who can do something tangible with the money. (In my experience) enhancing EPS by buying back shares rarely does anything for shareholders who are in it for capital gains.

[phillis] 20/4/2017 13:13

Look a the sp!

[the drewster] 20/4/2017 08:42

The generosity of the nil paids dished out to directors here leaves a bad taste, but at least there have been shareholder gains under their stewardship.

[future financier] 20/4/2017 08:19

Spot on EC - PAG has long been run for the benefit of the directors - with some "collateral benefit" spreading out to shareholders.

That said they have delivered pretty good results - so either you accept the policy of "Board first" - or else you sell.