Royal Bank Of Scotland Share Discussion Threads

[m1k3y1] 12/5/2018 11:16

CI
I guess it wants the litigation sorted out prior to the flotation of the company .
hxxps://news.sky.com/story/litigation-funding-giant-vannin-hires-banks-for-bumper-float-11352164

Not sure if they ever gave money to the AG but if they had a legal agreement then regardless of using the funds , I suspect there would have been fees involved.

Given that the AG appear to have questions around their funds, it may well be that they used some of Vannins money ?

[polar fox] 12/5/2018 10:35

Absolutely, a shambolic lack of governance prevails. And I can't see anyone doing anything much about it. That is really scary. My kids live in NY and HK and I don't ever expect to see them move here.

[raffles the gentleman thug] 12/5/2018 10:20

Agreed and Brexit does indeed look more likely by the day it's gonna come with an economic cost - coming up for two years wasted since the referendum and the Government as divided and rudderless as ever

[chinese investor] 12/5/2018 10:14

Did Vannin Capital give the "Action Group" any money ?
Were they required to give the court any money ?

[polar fox] 12/5/2018 10:05

In my post 836, I mentioned 350-360p, entirely chart based - there is a lot of sideways congestion around there in 2015, therefore heavy resistance. Above that, 400p is a huge pivot point, also in 2015 - getting past there will be a major challenge.

Caveat. It's all very well optimistically discussing target levels, but Brexit could yet 'blow up' the market. Just don't forget that.

[chinese investor] 12/5/2018 09:35

It's not clear but I imagine it's us Claimants.
It'll be good if this is resolved early.

[m1k3y1] 12/5/2018 09:30

Claimants I believe ?

[raffles the gentleman thug] 12/5/2018 09:25

What's your target on these polar ?

[polar fox] 12/5/2018 09:22

McEwan may be the the CEO, but he's not running this show. Hammond, HMT/UKFI and their adviser/advisers will be calling the shots. Bear in mind, there is a budget due around November and supposedly this government is desperate for every penny. I see a scenario whereby they will want to dispose of some shares prior to the budget, if circumstances come together favourably. Politics will be driving this also, that's for sure.

I would expect them to agree a process, in principle, during the next couple of months and, if it involves an interim dividend, McKewan will be told to get on with it. The adviser's input is going to be critical, of course.

I'm expecting plenty of news on this in the weeks ahead. Interesting times for RBS!

[m1k3y1] 12/5/2018 09:04

Thanks CI.
Is this against the Action group or Signatures Claimants or RBS ?

[chinese investor] 12/5/2018 08:51

"A litigation funder is seeking a quick win in its legal bid to claim £15 million plus damages and interest from the shareholders who won a £200 million settlement from Royal Bank of Scotland over its 2008 rights issue.

Vannin Capital PCC made an application for summary judgment at the High Court in London on Friday, requesting a hearing before a judge that would decide whether the its agreements with an action group that represented RBS shareholders amounted to unenforceable insurance contracts..........."

[raffles the gentleman thug] 12/5/2018 08:27

I'm inclined to agree with you polar in that the Government and its advisors will be pressuring the company to declare an interim dividend which will sweeten the sale story. But then Ross McEwan's line on the need to talk to the regulator first and announce a dividend in the next six to twelve months runs counter to that.Personally I'm inclined to think the dividend, when it comes, might be a little more symbolic than reflective of the company's true potential. The reason being that they will want to have a progressive and growing dividend policy and probably won't want to announce high payouts now only to reduce them by £500m a year from 2020 to pay the incremental required pension contributions. But then they could take the lead from Lloyds and announce a mix of dividend and share buyback, with the latter suspended from 2020. But either way they will want to maximise the value of their share price for the taxpayer and will know that unwinding a good 20p of excess capital is the certain way to achieve that.

[smurfy2001] 11/5/2018 18:26

I always find these interesting. The LBC radio interview with CEO Ross.

RBS Chief Executive Ross McEwan Live On LBC



Ross: "Dividend in the next 6 to 12 months"

[smurfy2001] 11/5/2018 18:25

RBS chief Ross McEwan hints he plans to stay

The New Zealand banker, who took the helm at RBS in 2013, said on LBC Radio that he had a plan up until 2020, adding: “Job’s not done yet.”

[smurfy2001] 11/5/2018 16:41

Chart pretty much bang on hoping for a breakout next week :)

[polar fox] 11/5/2018 16:00

Raffles, having just read your 886, the question I've been asking myself since yesterday is, will the first dividend payment 'post-Goodwin' be an interim or a final? Purely because, in my experience, when a company resumes paying regular dividends, I think the preference is with a final, then followed by the next year's interim and final. In the case of RBS, the position may be different, that 'Whitehall' will pressure management to declare an interim this August in order to grease some sort of initial sale/placement or whatever before Christmas. Not much point in speculating about the methodology,IMO, as they and their advisers will arrange whatever makes sense to them.

RBS is a FTSE company, so I'm happy to sit back and await developments, since that's all we can do!

[smurfy2001] 11/5/2018 12:30

Potential resistance seen from my trading chart.

[raffles the gentleman thug] 11/5/2018 09:41

Not sure how decisions are made in the Treasury but if it was me I'd be leaning on the company to announce an immediate redistribution of the 20p or so excess capital they are sitting on today, thereby ensuring the share price tracks above 300p and then commence the placement. But I guess it all depends upon politics and the degree to which they care about tax payers interests

[smurfy2001] 11/5/2018 09:12

One way ticket to making money here.

Dividend announcement will be the icing on the cake l do wish they’d hurry up.

[raffles the gentleman thug] 11/5/2018 08:46

We should be seeing broker upgrades any day - Morgan Stanley and the likes will all be competing to get the Government mandate

[chinese investor] 11/5/2018 08:04

300p Soon !

[leedskier] 11/5/2018 06:40

David Buik
‏
@truemagic6

CORE SPREADS - European opening calls suggest the prevailing mood of comfort will prevail this morning - FTSE +5 at 7713, DAX +8 at 13033, CAC -12 at 5533 (inc divs) - DJIA +20 at 24755 - at 6.31am

[smurfy2001] 11/5/2018 01:24

Raffles, not me saying that but the BBC article :)