Sant Uk.10te% Discussion Threads

[kev0856153] 20/1/2023 20:05

Just trying to act as a conduit for some learned discourse on this financial instrument.

[kev0856153] 20/1/2023 20:02

I'm a holder

[hindsight] 12/1/2023 10:47

Its a rather different situation if they make an offered exchange / price than a forced exchange / price
NBWD and LLPC/LLPD made a tender offer, which I accepted gladly
The only one I have been forced by is Lloyds ECNs........so far

[my retirement fund] 12/1/2023 09:24

stansmith, sorry I cannot find the info from santander, unless ive eyelashed passed a para in a long report? Have you got a link to the lemonfool article you mention ?

[steve3sandal] 11/1/2023 21:13

Nothing here either. SAN issue and redeem instruments all the time but nothing doing with these Prefs, ….thank goodness.

[steve3sandal] 11/1/2023 18:35

I’m pretty sure San haven’t purchased anything here as their institutional holders would know what was going on and certainly not settle for 130something.
Hold tightly. Not advice!

[my retirement fund] 11/1/2023 11:14

Can you point to text that states they repurchased 60%?

[return_of_the_apeman] 05/1/2023 12:30

That's great, I'll have another read

Thanks for your help

[hindsight] 05/1/2023 11:03

Sorry maybe work now with the /. It states some terms in there, think its weak like most prefs bar NWDB.

[return_of_the_apeman] 05/1/2023 10:45

Thanks hindsight, unfortunately your link is broken, I did read the AOA from somewhere else yesterday, however the agm resolutions are later so would take precident imho

I am probably worrying unessarily, at some point I will find out and hopefully the price will still be favorable then :-)

[hindsight] 05/1/2023 10:31

Think this is the AoA

san_uk_rfb_articles_of_association.pdf

[langland] 05/1/2023 10:17

Phew!....Thanks for checking.

[return_of_the_apeman] 05/1/2023 10:12

It was a buyback - apologies I have read a bit further and can see even if it got passed it was only valid until the next agm

Thanks for replying langland

[langland] 05/1/2023 10:01

Was this just a resolution to buyback shares as opposed to a redemption? 2 different things. If there were a serious risk of forced redemption, it is difficult to believe the shares could have traded as high at 185 in Sept 2021.

[return_of_the_apeman] 05/1/2023 09:53

Does anyone remember or have a copy of the result if the 2015 AGM?

Looks to me like this was the 2nd year in a row they tried to pass a special resolution to allow at any future time an option to buyback the prefs at any amount between 75% to 125% of face value

Would just shareholders of the prefs get to vote if the company made an offer? I would not like to take a 25% haircut

The link to the national database does not work for me, the link below is as far as I can get