Lancastrian
12 Mar 2015
Re: Takeover Totally agree, the 10% was relating to the original IPo I believe and I had already sold early on @ £2.95 then got back in at £2.48 for once made a nice little earner. Not worth waiting for your 10% things can go wrong and look to make some money elsewhere.
peapodpicker
12 Mar 2015
Re: Takeover AgreedOut at 334 not worth waiting for 6p more, plus if they run into competition problems who know how long it will take.With the recent fall in the market there are other opportunities around.
Loldemort
12 Mar 2015
Re: Takeover They can't get out of the obligation to give us the shares, so whatever price they finally strike per share for the takeover, assuming it goes ahead, they will have to give us that times whatever number of shares we are entitled to.They may wait until the due date -- June or July -- to pay it, of course, but the takeover may take that long anyway.
rhino666
12 Mar 2015
Re: Takeover Looks like this was good advice - I missed the price, now dropping.
Lancastrian
12 Mar 2015
Takeover "The proposal is for 340 pence in cash per TSB share. The Board of TSB has indicated to Sabadell that it would be willing to recommend an offer at the proposed price."So they indicate they will sell @ £3.40. So take the money and run, That gives me a 30% profit. Doubt if it would go much higher unless a counter bid from somewhere. Also doubt if Lloyds would object since it is at a premium to the float price. Plus if it falls through then at least a bird in hand as they say. So I''m taking this profit now.
forwardloop
12 Mar 2015
t/o 340p wonder what happens to the 10% bonus shares we all receive if held a year post floatation? - june 15I presume the offer price judges they will not be issued?
Kamikaze Upstart
27 Feb 2015
Re: Divi Shares? Thank you for that HardboyI want out of thisd stock, but will wait for my free shares f
Hardboy
26 Feb 2015
Re: Divi Shares? It was a bonus for people who took up shares in the IPO (up to the minimum purchase level as I recall) & held for 1 year. Not strictly speaking a dividend (i.e. I don't think you have to declare it as income.) So I imagine it will be 1 year after the shares started trading - sometime in May by memory. A quick click on the chart tab tells me they started trading 20/6/14, so I guess 20th June.
Kamikaze Upstart
26 Feb 2015
Divi Shares? Anyone know when the didvidend (which I believe was going to be 1 free share for every 20 owned) is due to be paid??
Kingel
25 Feb 2015
HL Update In its first full year results since listing last year, TSB has reported that it has, on balance, exceeded expectations set out at the time of the IPO and grown its market share of current account openers and switchers. 8.4% of all new or switched accounts came to TSB in 2014, compared to their existing share of 4.3% of UK current accounts.The figures were well received in early trading, with the stock rising by around one percent.Highlights•Underlying Profit Before Tax rose 2.3% to £133.7m.•Franchise Net Interest Margin rose 3asis points (bp) to 3.62%.•Asset Quality ratio "significantly better" at 0.44% (2013 - 0.61%).•Franchise Customer Lending fell 6% to £18.8bn.•Franchise Loan to Deposit Ratio continued to fall, now 76.5%, down from 87%.•Pro Forma Core Equity Tier One Ratio (pro-forma) of 19.7%.Growth in Loans and Advances of 7.7% to £21.6bn reflected an underlying fall in lending, offset by the injection into TSB of a portfolio of mortgages by former parent, Lloyds Banking Group, just prior to the IPO. This is why TSB refers to Franchise performance, which reflects the performance of the business excluding the Mortgage Enhancement portfolio, which will be reclaimed by Lloyds after a few years. TSB aims to grow sufficiently in that time not to need the income support the portfolio offers. Last year, the Mortgage Enhancement portfolio delivered £71.7m of profit, compared to £62m from the TSB franchise itself.At the time of listing, TSB had no means of distributing mortgages through the important intermediary channel, which typically accounts for around half of the UK mortgage market. The fall in franchise lending volumes needs to be seen in that context. The group has now established an intermediary platform for brokers and has received over £300m of applications in a matter of weeks. The Bank believes it is delivering on service levels; they track their Net Promoter Score regularly and this shows that more customers than ever would recommend TSB, whilst Which? Magazine rated them as the only high street bank in the top quartile for customer service.OutlookTSB says that it expects:•To consistently attract a greater than 6% share of gross flow of all switching and new personal bank accounts through 2015.•The balance of Franchise net lending to increase by around £1.5 billion in 2015, with net growth from mid-way through the year.•To meet these growth targets while controlling costs to no more than £720 million in 2015.•The Franchise net interest margin to be broadly flat in 2015, with a positive start offset by subsequent compression.•Franchise other income to fall by c. £15 million primarily driven by lower interchange income. Paul Pester, Group CEO said:"2014 was a pivotal year for our business as we started to establish TSB as Britain's challenger bank. In terms of financial performance, I'm pleased that, on balance, we've exceeded the expectations we set out at the time of our IPO in June last year. In addition, I'm delighted that we've made such a strong start in delivering TSB's growth strategy. With 8.4% of all people switching or opening a bank account in 2014 choosing TSB; with the recent successful launch of our TSB mortgage broker service and with more people than ever before now recommending TSB to friends and family, it's great to have reached "base camp" on our mission to "bring more competition to UK banking."Read more share research from Hargreaves LansdownOur view:TSB came into being because the EU willed it so, as a reparation for Lloyds being allowed to acquire HBoS. The business is not yet truly viable in its own right; it requires the extra profits from a mortgage portfolio that Lloyds is allowing it to use for a few years, to give it the chance to grow into sustainable independence.In the near term, it has good net interest margins, but the extra overheads required in a standalone bank mean that those margins don't translate into a lot
xTitanic
19 Feb 2015
Re: TSB downgraded Things livening up a bit now Goldboy?.Buying op anyone?.
Kingel
19 Feb 2015
TSB downgraded Jefferies has downgraded TSB (TSB) after slashing revenue forecasts and highlighting the need to cut costs before investor activists demand it. Jefferies analyst Joseph Dickerson downgraded his recommendation from ‘buy’ to ‘hold’ and reduced the target price from 413p to 275p. Shares in the bank fell 1.2% to 263.3p yesterday.Dickerson slashed earnings per share estimates by 47% through to 2018 and pointed to avenues for cutting costs that could be demanded by activist investors if management does not seize the initiative.‘According to our research, TSB could let leases expire on 399 leasehold branches, which would bring unit economics in line with peers and bring down a high cost/income ratio in an increasingly commoditised UK banking market,’ he said. ‘We estimate a related net recurring earnings benefit of £98 million.’Another option would be to terminate its IT deal with Lloyds. ‘TSB receives £450 million from Lloyds if it migrates its IT platform to a third party provider,’ said Dickerson. ‘Assuming new IT arrangements could save half of the long-term step up costs related to the Lloyds relationship, we estimate a related net recurring earnings benefit of £52 million.’[link]
malkis
19 Feb 2015
fifty shades of grey just to ease..... ........... boredom The missus bought a Paperback,down Shepton Mallet way,I had a look inside her bag;T'was "Fifty Shades of Grey".Well, I just left her to it,And at ten I went to bed.An hour later she appeared;The sight filled me with dread...In her left she held a rope;And in her right a whip!She threw them down upon the floor,And then began to strip.Well fifty years or so ago;I might have had a peek;But Mabel hasn't weathered well;She's eighty four next week!!Watching Mabel bump and grind;Could not have been much grimmer.And then things went from bad to worse;She toppled off her Zimmer!She struggled back upon her feet;A couple minutes later;She put her teeth back in and said"I am a dominater"!!Now if you knew our Mabel,You'd see just why I spluttered,I'd spent two months in tractionFor the last complaint I'd uttered.She stood there nude and nakedBent forward just a bitI went to hold her, sensual likeand stood on her left tit!Mabel screamed, her teeth shot out;My god what had I done!?She moaned and groaned then shouted out:"Step on the other one"!!Well readers, I can't tell no more;'bout what occurred that day.Suffice to say my jet black hairTurned fifty shades of grey.Warm regards MALKIS
goldpig1
18 Feb 2015
Re: it has to be said ............ yer, got them tooo, and equal snooze fest
xTitanic
18 Feb 2015
Re: it has to be said ............ "This is about the most boring share i have ever owned".Do you not own any Lloyds?.
