Kool Keith
22 Apr 2015
Re: corporate action thanks to Bubblingup post 20-03-15 see blow.Doesn't answer the issue Rhino raised regarding iii not paying the bonus shares.Bonus Share SchemeAt the time of the initial public offering ('IPO') of TSB in June 2014, Lloyds implemented a bonus share scheme pursuant to which retail investors acquiring shares in TSB through the IPO and holding those shares for 12 months thereafter would, subject to certain conditions and limits, be entitled to receive a number of free and fully-paid up additional shares from Lloyds following that 12 month period (which expires on 25 June 2015). The terms of the scheme contemplate the scenario where a change of control of TSB occurs before the entitlement to these bonus shares crystallises and provides that in such circumstances Lloyds would make arrangements to compensate investors. Accordingly, if the Offer is declared wholly unconditional before 25 June 2015, Lloyds will make arrangements to pay, to any investors who would have been entitled to receive bonus shares under the terms of the scheme, the cash value of those bonus shares (at the offer price to be paid by Sabadell). In addition, if the Offer period extends beyond 25 June 2015 (whether or not the Offer is subsequently declared wholly unconditional or lapses), Lloyds intends to extend the compensation arrangements described above such that, in those circumstances, it will make arrangements to pay, to any investors who are entitled to receive bonus shares under the terms of the scheme, the cash value of those bonus shares (again at the offer price to be paid by Sabadell).
pleasemiss
22 Apr 2015
Re: corporate action coz they are mean bean. you need to beholding shares past 20/6 and you are asked to sell by 4 may. if they wait till the year is complete they will need to give bonus shares. if the spanish get it there will be just the token holders with not much of guarantee that they will take on the pledge...
Kool Keith
22 Apr 2015
Re: corporate action Rhino, why don't you think you will get the bonus shares? I also purchased through iii and never thought I wouldn't get the bonus for holding.
rhino666
22 Apr 2015
Re: corporate action Yes, the deal with proceed and nothing you or I can do about it. Just agree to it and wait for the money to roll in.This share has run its course - time to cash in the chips.I bought through iii, so don't think I will get the 5%
In the dark yet again
22 Apr 2015
Re: corporate action It's pretty much a done deal so it doesn't really matter what I think as it makes no difference. I only have a few thousand quids worth (which will get the 5% bonus pickup) so, on balance, it's been a pretty good year with TSB. Simply take the money and run..... well, take it and look for somewhere to put it, ideally the next one that gets taken out. Your guess is as good as mine.Regards,ITDYA
celerydays
21 Apr 2015
corporate action What do people think of the takeover offer ?
stu black
19 Apr 2015
Re: Almost worth buying Offer closure date is 8th May ( see News 17/04/14)You'll probably receive your dosh a week or two after that date.
buffett-ramper-slayer
17 Apr 2015
Re: Almost worth buying Does anyone know the timetable for the deal completion and the logistics of when shareholders will receive cash (including bonus) ?
Hardboy
24 Mar 2015
Almost worth buying If everyone thinks it's a done deal, and will complete in less than 3 months, at this price your money could get more than 1.5% return. That's equivalent to over 6% per annum. Better than any bank account or bond.
buffett-ramper-slayer
24 Mar 2015
Re: Getting near to float level Ooops !
Ripley94
21 Mar 2015
5% don't see why most wouldn't wait a few months and get the bonuscan only see the price going up.
BubblingUp
20 Mar 2015
Re: Bonus Shares Indeed. The 5% bonus in shares effectively increases the profit from launch by 21.25% by my reckoning. The situation with the bonus shares is made even clearer in the Lloyds' version I think:"Bonus Share SchemeAt the time of the initial public offering ('IPO') of TSB in June 2014, Lloyds implemented a bonus share scheme pursuant to which retail investors acquiring shares in TSB through the IPO and holding those shares for 12 months thereafter would, subject to certain conditions and limits, be entitled to receive a number of free and fully-paid up additional shares from Lloyds following that 12 month period (which expires on 25 June 2015). The terms of the scheme contemplate the scenario where a change of control of TSB occurs before the entitlement to these bonus shares crystallises and provides that in such circumstances Lloyds would make arrangements to compensate investors. Accordingly, if the Offer is declared wholly unconditional before 25 June 2015, Lloyds will make arrangements to pay, to any investors who would have been entitled to receive bonus shares under the terms of the scheme, the cash value of those bonus shares (at the offer price to be paid by Sabadell). In addition, if the Offer period extends beyond 25 June 2015 (whether or not the Offer is subsequently declared wholly unconditional or lapses), Lloyds intends to extend the compensation arrangements described above such that, in those circumstances, it will make arrangements to pay, to any investors who are entitled to receive bonus shares under the terms of the scheme, the cash value of those bonus shares (again at the offer price to be paid by Sabadell).The Group has discussed these arrangements with the Board of TSB who are fully supportive of the arrangements that have been made."
Commentor
20 Mar 2015
Bonus Shares Good News:"Lloyds will make arrangements to pay, to any investors who would have been entitled to receive Lloyds Bonus Shares, the cash value of those bonus shares (at the Offer price to be paid by Sabadell). The Board of TSB has discussed these arrangements with Lloyds and is fully supportive of the arrangements that have been made."
xTitanic
20 Mar 2015
Re: Don't Want That Mob Be interesting to see how many switch banks (and get £100) if they drop the 5% on current accounts
Spain Fund
20 Mar 2015
Re: Don't Want That Mob Banco Sabadell you mean. Took over my Solbank in Spain. Stayed for convenience.In 1996 Banco Sabadell started a new expansion phase, increasing its dimension and operating capacity. Since 2007 the Bank has doubled in size and become fifth bank in Spain. Since that moment, Banco Sabadell has acquired and integrated other entities to the Group (NatWest Spain, Banco Herrero, Banco Atlántico, Banco Urquijo, TransAtlantic Bank, Private Banking Business of BBVA (US), Mellon United National Bank, Banco Guipuzcoano, Lydian Private Bank, Banco CAM, Banco Mare Nostrum (BMN) network in Catalonia and Aragon, Lloyds TSB network in Spain, Banco Gallego, Lloyds TSB Miami and JGB Bank).
