Who's kidding who, what happened to the 800 million Ozzie bid from Maq's...you know the same Maq's with the brokers note suggesting LLOYS at 6:00 GBX. Antonio this will not do, there will be nothing left at this give away rate.
I would perceive the message between those lines to read, the request for this stage payment ie: the agreed bonus, is just the start of the game between management and management within Lloyds. If the question is why not confirm the divi date, which is the major foot hold back to credibility before paying the bonus, a good question if we were playing cricket but we ain't are we, and nothing is certain right now, as someone distinctly mentioned here, 'overvalued' is now the name of the game and billions have so far appeared from nowhere to pay for these high profile IPO's, which all of us must be wandering about and looking at how 75GBX for lloys appears in light of some of this general reasoning...RMG over 5.00GBX... Twitter.. anything at all let alone $45 bucks. Yes, he wants his 1st stage payment now because even he is not sure what comes next. It's all politics now. If it all goes right [literally] then this, lloys is the best buy around...if?
Whilst on the face of it is difficult to disagree but worth bearing in mind who ultimately agrees and approves AHO's bonus plan. It isn't him. He is doing his utmost to bring the bank back to full recovery and it doing so within the remuneration structure that was set out for him.
Is just another example of bankers out of touch with reality. He's just done his job and at this stage does not deserve or warrant a bonus. When AHO actually achieves value for shareholders and starts paying divis again then a bonus will be deserved. The share price, as others have pointed out, is hardly any different to when he was appointed. I am a Lloy and AHO fan but I draw the line when it comes to paying bonuses for what is in reality just the day job. I will be the first to want to see him get a bonus when divs are being paid and the share price is double what it is now.
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