Sant Uk.10te% Discussion Threads

[my retirement fund] 16/3/2018 12:11

For the shareholders its the same thing though, if I ran someone down in the road it may be accidental if I stabbed them it may be murder, two very different things in law.

Same result, I killed someone. I cant pretend I didn't kill them by saying my car killed someone or my knife killed someone can I.

How then could Aviva pretend they didn't redeem ? Its the same thing.

I wouldn't be allowed to intentionally voluntary or involuntary kill someone would I ?

So pray tell how can Aviva either voluntary of involuntary redeem irredeemable shares?

[my retirement fund] 16/3/2018 11:42

Isn't redeem and cancel the same thing in this instance?

Yes all words have different meanings in different contexts, for example cancellation could mean extinguishing them and not returning any value, whereas redemption could mean for example restoring ones reputation.

However when cancellation and the accompanying explanation used in Aviva's description is describing the eventuality of a redemption. If they did what they are threatening to do, and someone asked what happened, you could describe them as having been redeemed just like any other redeemable item.

It would be different if they cancelled them and did not return the full monies, but returning the original sum would have to be effectively a redemption.

This contradicts the terms then.

[jeantere] 09/3/2018 17:01

From Santander.com website - SAN are 'perpetual with no right for Santander to redeem them:

QUOTE:
Santander UK plc Sterling Preference shares

What are the dividends on the Santander UK plc Sterling Preference Shares?

There are two series of Santander UK plc Sterling preference shares in issue: 10.375% and 8.625%. The cash dividend is paid net of the "associated tax credit" which is available to individuals who are UK tax residents. Under current law the cash dividend is: 9.3375% and 7.7625%.

What is the maturity date?
Each series of preference shares is perpetual. Santander UK plc does not have any rights to redeem the preference shares, but it does have the authority by way of shareholders' resolution to repurchase them provided that the Financial Services Authority agrees to this at the time of repurchase. UNQUOTE

[cousin jack] 09/3/2018 10:32

Sky: I’d have thought Lloyds would have done it by now if they could ( based on what happened with the Coco’s ). And the wording of the Llpc/d terms doesn’t seem to give the same opportunity for redemption that the terms of the Aviva prefs do. However you use the word “likely”so I’m wondering if I am overlooking something obvious ?

[folderboy] 09/3/2018 09:50

Indeed - am down 10s of thousands - you say 'likely' - isn't it more 'possible' and, in my view, with some such as LLPC - 'unlikely'

[skyship] 09/3/2018 09:46

All bank prefs being hammered post the AVIVA shock yesterday re likely redemption of all prefs at par, through a capital reduction trick!

[serotine] 26/7/2017 17:12

I have some of these shares but have lost my Santander share certificate (still receive the dividend though and have my shareholder ref number). Does anyone know who I should contact for advice on how to proceed. Any help greatly appreciated

[slj] 21/6/2016 17:05

You know what it's like, the market becomes totally irrational when the unexpected or the unknown happens ... they sell everything, throwing the baby out with the bathwater. If like me you picked these up for 80p+ and below par, then protecting your capital at this level makes sense if able to pick them up cheaper at a later date?

[folderboy] 21/6/2016 13:06

Only added a few - and thinking it was a mistake . . . . .

[slj] 21/6/2016 12:48

Gosh okay... you're adding then? I have quite a lot of these, tried selling 10k just to see how much I would get? Couldn't give me an online quote - was instructed to place an order with the dealers.

[folderboy] 21/6/2016 11:06

Added a few - paid 154

[slj] 21/6/2016 10:54

IN the event of BREXIT ... where do you guys reckon will happen to this one's price?

[cwa1] 16/3/2016 18:28

Good news from hiriskpaul on TMF:-


Just had an email from Santander IR - pref dividends will be going up from 5 April 2016!

[my retirement fund] 10/3/2016 09:42

Indeed and as monies to be credited after this tax year they will have to be tax free

[cwa1] 10/3/2016 08:49

XD today and pay day is 6/4 for this and SANB

[kun aguero1] 13/11/2015 09:34

No Santa rally this year, in fact we are likely to see a sell off as Markets worldwide struggle to prosper. B.O.E. boss Carney is an accident waiting to happen and the USA will raise interest rates and cause an even bigger sell-off.

[wirralowl] 02/11/2015 20:12

Thanks guys, that was my original thinking, but thanks for confirming.

[my retirement fund] 02/11/2015 17:55

Yes thats correct so it seems April will confirm any new treatment

[tournesol] 02/11/2015 15:17

Wirral

the change in treatment of divis comes in next April.

T

[wirralowl] 02/11/2015 15:10

Re : MRF's post 94 - I still had withholding tax deducted in last month's payment, though it is held outside an ISA (with iweb). Anyone actually get the full 5.1p?

[my retirement fund] 07/10/2015 16:53

Prefs (SAN & SANB)upgraded from BB to BB+

Banco Santander, S.A. (the "Bank") hereby announces that following the recent upgrade of the Spanish sovereign debt rating by Standard & Poor's Ratings Services, the agency published revised ratings as detailed:

-- Long term debt: A- from BBB+ (stable outlook).
-- Senior subordinated debt: BBB from BBB-
-- Junior subordinated debt: BB+ from BB
-- Preferred stock: BB+ from BB

[my retirement fund] 03/9/2015 08:15

Gone XD Payment should be 5.1 pence this time as no witholding tax to pay.