le vin est par
20 Mar 2015
Re: Don't Want That Mob Santander?!! Unlikely that TSB will introduce charges in the UK on a standalone basis.
Spain Fund
20 Mar 2015
Re: Don't Want That Mob They will cut jobs to the bone and introduce charges. Starting my look for new bank today
goldpig1
20 Mar 2015
Sale Agreed TSB - the bank formerly owned by Lloyds - has agreed to a £1.7bn takeover by Spanish bank Sabadell.[link]
xTitanic
19 Mar 2015
Re: Getting near to float level Take the money - there's better opportunities around now.
xTitanic
19 Mar 2015
Re: TSB downgraded Lucky Lucky Lucky!
Ewan Hoosami
18 Mar 2015
Re: t/o 340p - IPO document details [link] conclusive.
Hardboy
17 Mar 2015
Re: Interesting purchase I spotted that too. Interesting. Of course, strictly speaking it gives them 2 shares more than everyone else added together, if they held exactly 50% previously.
Spadger
16 Mar 2015
Interesting purchase Lloyds bought 1share today to give them one share more than everyone else added together.
Kingel
13 Mar 2015
TSB takeover by Sabadell TSB takeover by Sabadell could realise £1.6bn of ‘trapped value’Banco Sabadell’s takeover bid for TSB (TSB) could unlock £1.6 billion of ‘trapped value’ in the Lloyds spin-off bank, according to Jefferies.The Spanish bank’s 340p per share cash offer for TSB sparked a 22.6% rise in the share price to 323.8p yesterday.Dickerson said that ditching Lloyds' IT systems would trigger a £450 million payout for TSB, while the takeover could lead to 'further synergies from closing branches as our research has shown that TSB could let leases expire on 399 leasehold branches'.‘Overall, our recent research concluded that there was £1.6 billion of trapped value within TSB largely associated with branch cuts and technology savings,’ he added.[link]
In the dark yet again
13 Mar 2015
Re: t/o 340p - IPO document details Nothing in the (very limited) documents to say either way on the bonus shares but I tend to agree with you Hardboy.Then again they have until the 9th April to confirm/deny a firm intention to make an offer, then get paperwork sorted out, then make the offer, then get the deal completed, all before the bonus share cutoff date (me, not sure but 20th June sounds about right)...... that's moving pretty quickly; can't remember the last time I saw a £1.7bn T/O get sorted that quickly.And, whilst not huge, this one has some political & cross border banking factors involved so I reckon the probability of it being 'done' before 20th June is very slim (....to none).Regards,ITDYA
Spain Fund
13 Mar 2015
Don't Want That Mob Sabadell took over my bank in Spain, that's Solbank, and charges have went up and up. Other new charges too. Charge yearly for debit card!. They took over some of savings banks too e.g. CAM . Shares down over 9% in just over a day and did nothing for last few yearsCurrent accountQuarterly 24/12/2014 INTERESTS AND/OR COMMISSIONS 24/12/2014 -15,00 Think I will move my TSB accounts if takeover goes through.
Hardboy
13 Mar 2015
Re: t/o 340p - IPO document details Of course if shareholders accept cash for their shares (in the form of a take-over) before the anniversary, they have not held for a full year, therefore miss out on the bonus.
Airstream32
13 Mar 2015
Re: t/o 340p - IPO document details Hmmm that page reference has been removed. So here is the relevant section from the TSB IPO document. As indicated by others, DYOR and the original offer of bonus shares could be negated by terms of the/any offer accepted.TSB IPO Prospectus (page 13) – ref 20 June 2014 IPO dateThe terms of the Intermediaries Offer provide for a Bonus Share Scheme pursuant to whichinvestors who acquire Ordinary Shares in the Intermediaries Offer and continue to hold suchOrdinary Shares for a continuous period of one year following Admission will, as at the datefalling at the end of that one-year period (the “Bonus Share Record Date”
, be entitled toreceive one free and fully paid-up Bonus Share from the Selling Shareholder for every 20Ordinary Shares so acquired and continuously held with the same Intermediary, subject tocertain conditions (as set out below) and solely in respect of amounts up to £2,000 invested in Ordinary Shares in the Intermediaries Offer (meaning that a maximum of £100 of Ordinary Shares (determined on the basis of the Offer Price) will be transferred to any investor as Bonus Shares).Note the 20th June 2015 falls on a Saturday, so allocation of bonus shares could be 22nd June 2015. At the IPO share offer price of 290p this would equate up to 34 additional shares for the maximum of £100.
Proverbs 26 vs 5
12 Mar 2015
Re: Hmm, interesting I should have said full article here[link]
Proverbs 26 vs 5
12 Mar 2015
Hmm, interesting Sabadell can get back 90 pence a share in the form of a £450 million dowry: The U.K. bank’s former parent, Lloyds Banking Group, promised this sum toward technology costs if TSB were acquired. That cuts the purchase price to about as low as TSB has ever traded, but it can only be claimed as Sabadell incurs extra costs in extricating TSB from its former parent....Sabadell and Lloyds already have a relationship—the Spanish bank bought the U.K. group’s Spanish business in 2013 and Lloyds still holds about 1.5% of Sabadell from that deal. This may make it hard for another bidder to break into the deal and both Lloyds, which owns 50% of TSB, and TSB’s board have said they are happy with the price.Source = wsj.com
