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Resources analyst Charlie Long sees good times ahead for uranium Watch here

Resources analyst Charlie Long sees good times ahead for uranium


Royal Bank of Scotland Share Chat (RBS)



Share Price: 266.00Bid: 265.90Ask: 266.00Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.10Spread as %: 0.04%Open: 268.10High: 268.70Low: 264.90Yesterday’s Close: 266.00


Share Discussion for Royal Bank of Scotland


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M1k3y
Posts: 1,310
Answer
Opinion:No Opinion
Price:266.00
Neil Mitchell
Thu 22:28
Well for me , I don;t have the financial resources MR Mitchell appears to have.
I joined the group in the hope that I might recover some of the losses I have suffered.
Hard earned money, I can Ill afford to lose.
I certainly can't afford to lose any more, should the claim prove unsuccessful.
Mr Mitchell would appear to want to continue the claim regardless .
If he does and he wins I wish him well but not by potentially placing my finances at greater risk.
After all, non of us (lower level) claimants have seen any of the evidence, or been privy to the legal advice received by the Action Group.

For me a settlement would be prudent.
 
LennyMac
Posts: 698
Off Topic
Opinion:No Opinion
Price:266.00
Neil Mitchell
Thu 22:17
Well, you have to admire his conviction.
M1k3y
Posts: 1,310
Research
Opinion:No Opinion
Price:266.00
and again
Thu 21:02
M1k3y
Posts: 1,310
Research
Opinion:No Opinion
Price:266.00
worrying
Thu 20:58
The Guardian
https://www.theguardian.com/business/2017/may/25/rbs-royal-bank-scotland-shareholders-fred-goodwin-court-case-settlement

I find the following statement in this article very concerning;
"Shareholder Neil Mitchell, who has previously sued RBS in a separate claim, said there was a hardcore group that would not settle under any circumstances.
“For many people, it’s never been about money, it’s been about principle and justice, and about seeing senior board members of the bank brought to trial,”

So , regardless of the cost, Mr Mitchell wants his day in court.
It seems he also has another related agenda.
http://www.thisismoney.co.uk/money/markets/article-4262220/Whistleblower-s-RBS-128m-court-battle.html

As I have said earlier, different claimants will have different views regarding settling or continuing.
M1k3y
Posts: 1,310
Observation
Opinion:No Opinion
Price:266.00
FT Article
Thu 17:35
Thanks Mr Bubbles
I notice this quote "The High Court has been told a number of claimants have not been able to be contacted about the latest offer because of old addresses."
If this is true, I am afraid it is incorrect, as I , and it appears others here, have not been contacted by anyone.
I have not had any replies to my e-mails and may have to resort to contacting the solicitors directly, if I don't receive a response.

If there are claimants who wish to continue, while others choose to accept a settlement, that is their option of course.
Whether the existing Solicitors would wish to continue if a large percentage of the existing claimants settled, may be
questionable.
I have seen this before .......people can lose sight of the fact, they may not win and would be liable not only for the monies they have lost to date but also for costs etc
There is no certainty in a court of law .
Of course IF money is of no consequence then good luck but for my part a prudent settlement seems a sensible (if not principled) outcome.
MrBubbles
Posts: 177
Off Topic
Opinion:No Opinion
Price:266.00
rest of FT article
Thu 16:57
Please use the sharing tools found via the email icon at the top of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.
https://www.ft.com/content/879023c2-4146-11e7-82b6-896b95f30f58

“It’s never been about the money for a large number of what I call diehard shareholders,” said Neil Mitchell, a businessman and shareholder. “It’s about seeing the ex-directors in court and . . . learning once and for all what happened in relation to the bailout by the government at the time.”

John Greenwood, an individual investor from Huddersfield, who claims to have lost about £45,000, said: “I joined the rights issue group on the understanding that the full facts behind the rights offer and what was going on at the time would all come out. I wouldn’t have joined if we’d settled without the information coming out . . . I’d like to go to court.”

Rob MacGregor, a national officer for Unite, the union, said there was a small group of investors who “want to have their day in court”, given they “haven’t heard from Goodwin”.

Mr Goodwin, who was stripped of his knighthood in 2012, has rarely been seen in public since RBS’s near collapse and only agreed to reduce a £700,000 annual pension following a very public battle. He still lives in Edinburgh and was recently involved in a battle with his neighbours who wanted him to chop down a giant leylandii hedge in his garden.

The RBS shareholder action group consists of 8,625 retail shareholders and around 20 institutions who are all represented by law firm Signature Litigation. One person close to the group said investors would be “hard-pressed” to refuse an offer if it amounted to £1 a share.

RBS’s current chief executive, Ross McEwan, this year criticised staff and former colleagues for seeking to bring a case against the bank having served there.

The case is being financed by two funders, including London & Northern Capital Partners (LNCP), which is associated with the family interests of multi-millionaire entrepreneur Trevor Hemmings. Mr Hemmings is also a claimant but is said to be considering the latest offer. If he and the majority of investors decide to settle, any remaining claimants who wish to fight on will have to find alternative funding to cover their legal costs.

The High Court has been told a number of claimants have not been able to be contacted about the latest offer because of old addresses. Court documents show that 35 per cent of the retail shareholders who signed up to the lawsuit are pensioners, 15 per cent have since died, 20 per cent live overseas a
MrBubbles
Posts: 177
Off Topic
Opinion:No Opinion
Price:266.00
RBS court latset news
Thu 16:56

Resolute RBS investors hold out for Fred Goodwin’s day in court

State-backed bank trying to settle shareholder lawsuit over 2008 rights issue

by: Emma Dunkley and Jane Croft

A group of “diehard” Royal Bank of Scotland shareholders intent on seeing the bank’s disgraced former chief executive Fred Goodwin in court are leading resistance to a settlement with the state-backed lender in a £700m lawsuit.

A faction of investors within the 9,000-strong shareholder action group insist they would rather see Mr Goodwin held to account than accept the current offer of 82p per share from RBS to settle the High Court case. The resistance group includes about 4,500 current and former employees who are holding out for a higher price, according to one person briefed on their plans.

The high-profile civil trial, which has been adjourned until June, is set to expose the actions of RBS’s former directors about events leading up to its disastrous investor fundraising in 2008 — only months before its £45.5bn bailout, the largest bank rescue in British history.

The investors claim that a £12bn 2008 rights issue prospectus contained misleading information about RBS’s financial position under Mr Goodwin’s leadership and want compensation. RBS and the directors deny wrongdoing.

RBS, which declined to comment, is trying to stave off the trial and has almost doubled its settlement offer to investors from 43p to 82p in the past week. Most investors paid 200p per share in the rights issue.

The shareholder group has told the High Court that this week’s delays were due to “the logistical problem” of contacting some of the thousands of retail investors to allow them time to consider the offer “rather than anything more fundamental”.

It’s never been about the money for a large number of what I call diehard shareholders. It’s about seeing the ex-directors in court and . . . learning once and for all what happened in relation to the bail out by the government at the time.
Neil Mitchell, businessman and RBS shareholder

The group has said the majority of investors have indicated they would like to settle.

However some retail investors say they want the trial to go ahead.

“It’s never been about the money for a large number of what I call diehard shareholders,” said Neil Mitchell, a businessman and share
M1k3y
Posts: 1,310
Answer
Opinion:No Opinion
Price:265.90
Bubbles
Thu 14:23
Will do Bubbles.
I think the numbers on the RBoS website haven't been updated since the other groups dropped out ?
Could be wrong but I am guessing the figures being reported are close to the actual ones.
It isn't that difficult to keep i contact with thousands of claimants if you have the correct set up.
I have been part of this type of claim before and have experience of it.

In any event, if the solicitors and those heading the claim are recommending acceptance, it would seem unlikely that those same people would proceed with the claim.
This would leave anyone who wanted to continue, having to pick up where others have left off.
A difficult and costly task.
If what is being reported is accurate, it would seem that a settlement should be achievable.
It would be helpful if the RBos Action Group could provide claimants with information about the settlement (obviously not easy , as this could not become public knowledge) but I suspect that it will end up with an agreement in principle (if they agree) , which claimants will then have to individually sign off on.
We wait to see and can only hope that those who are involved , negotiate the best offer possible, for all concerned.
MrBubbles
Posts: 177
Off Topic
Opinion:No Opinion
Price:266.20
Milky
Thu 14:08
The Rbos site has always had the numbers of member's at 27,000 .Add to that a possible 3000 latecomers . I have no idea where this 9000 figure comes from .The deadline is Monday . On Monday the judge has told both parties to inform him of their decision . If no settlement then the trail starts on the 7th

Today is Thursday ....it is simply impossible to contact all 30,000 odd shareholders by Monday . Its just not going to happen . That is why i believe the RBOS directors will make a decision on our behalf .

If they do contact you please let me know .

Cheers
M1k3y
Posts: 1,310
Observation
Opinion:No Opinion
Price:265.00
Bubbles
Thu 13:19
Hello MrBubbles
just noticed I misread your post, apologies.
I thought you worked in the group taking calls.
Think I might need glasses !
Thank you anyway for your information.




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