Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Valuation: Around one-third upside The rapid placing of the STB stock shows there is strong investor interest in the company and suggests ABG’s stake is more liquid than may previously have been believed. To have ABG’s own market cap under £100m while its stake in STB is over £155m appears highly anomalous. Our valuation approaches indicate a fair value of c 816p.
http://www.edisoninvestmentresearch.co.uk/researchreports/ABGupdate261112.pdf
Henry Angest, Chairman and Chief Executive of Arbuthnot Banking Group PLC, said: "Secure Trust Bank has performed well since its IPO, demonstrating that a significant market opportunity exists for a bank without the legacy issues and major challenges being faced by the large established UK banks. Today's proposed placing, will enable Secure Trust Bank to accelerate its strategy of profitable growth both organically and through acquisition."
PROPOSED PLACING BY SECURE TRUST BANK TO RAISE £20 MILLION, PARTICIPATION IN PLACING BY ARBUTHNOT AND REPAYMENT OF SUBORDINATED DEBT BY SECURE TRUST BANK Proposed Placing It was announced today that Arbuthnot's 75.5 per cent owned subsidiary Secure Trust Bank PLC ("Secure Trust Bank") is proposing to raise £20 million through a non pre-emptive placing (the "Placing") of new ordinary shares (the "Placing Shares"). Secure Trust Bank intends to use the proceeds of the Placing to provide capital to support various inorganic and organic growth opportunities, and to repay its existing subordinated debt of £5.0 million to Arbuthnot. Arbuthnot intends to subscribe for approximately £5.0 million of Placing Shares in the Placing, the proceeds from which will be offset against the principal amount of the subordinated debt of £5.0 million payable to Arbuthnot by Secure Trust Bank. Once the bookbuild is completed, the Company will make a further announcement detailing the number of Placing Shares taken in the Placing and its resulting interest in Secure Trust Bank. Following the Placing, Arbuthnot's percentage shareholding in Secure Trust Bank will reduce and Secure Trust Bank will no longer have any subordinated debt payable to Arbuthnot.
lol- been following this for a while :-)
you into FINANCIALs..lol.lol...you feeling ok dude..lol.. do you want me to call you a doctor..
:-)
this moves on less volume than srx, and thats saying something :-)
to be read with todays arbb rns http://www.investegate.co.uk/Article.aspx?id=201210180701029451O Secure Trust Bank PLC Update on third quarter trading Secure Trust Bank PLC ("STB") traded well during the quarter ending 30 September 2012. Demand for lending and deposit products remained strong. Cycle finance in particular has seen positive new business levels undoubtedly as a consequence of the Olympics. The bank continues to enjoy favourable funding conditions. Indeed the most recent deposit raising was successfully concluded after raising over £36 million in the first 8 days in August. STB is progressing an application to be included within the Funding for Lending Scheme and is giving due consideration to the extent, if any, it accesses the discounted funding available, noting it remains highly liquid at this time. In its interim results statement on 26 July 2012 STB reported that, when it released the White Paper on 14 June 2012, the Government signalled that it recognised the competitive challenges facing smaller banks. STB is now engaged with the Government's Banking Reform Team and the Treasury to help them to understand better these issues. In common with other banks, and as previously disclosed, STB is being inundated with entirely spurious claims originated by claims management companies (CMCs). The operational impact of having to respond to huge volumes of baseless claims is an unwelcome distraction. In September 2012 STB became the first bank in the UK to be awarded the Customer Service Excellence Award. This award was introduced by the Cabinet Office in 2010 to replace the former Charter Mark. Then, in October 2012 STB was awarded a 4 star Fairbanking Mark for its current account. These positive achievements mark the culmination of 18 months of hard work to improve the way in which STB interacts with its customers and the quality of the range of services it provides. Everyday Loans has been successfully integrated with the Group. A new branch has now opened in Middlesbrough and others will follow reflecting our growth plans for this business. The costs associated with opening new branches are relatively modest and they typically become profitable within 12 months. STB continues to work on a diverse pipeline of organic and external business opportunities as it progresses its growth strategy.
http://www.investegate.co.uk/Article.aspx?id=201210180700059440O Arbuthnot Banking Group today issues an update on trading for the three months to 30 September 2012. The Group has made steady progress during the third quarter with both banks trading well. Retail Banking Secure Trust Bank (STB) traded robustly during the quarter generating good growth in loan volumes across all of its lending portfolios. The acquisition of Everyday Loans (EDL) has been successfully integrated into the Group and has started to execute on its growth plans. The bank remains highly liquid with its recent deposit offerings being successfully filled within eight days of being launched. In September 2012 STB became the first bank in the UK to be awarded the Customer Service Excellence Award. This independent award was introduced by the Cabinet Office in 2010 to replace the previous Charter Mark. Private Banking Arbuthnot Latham continues to see attractive loan opportunities as the bank grows both its customer loans and deposits in a controlled manner. Prior to the announcement by the Government of its Funding for Lending Scheme (FLS), the bank had begun to experience an increasingly competitive market for retail funding. This will result in some compression of its customer margins for the remainder of the year. As the disruption in the mainstream banks continues, Arbuthnot Latham has been able to recruit a number of senior executives, who will help to raise the profile of the bank in both the UK and overseas markets. Note: Secure Trust Bank also today issued an update on trading for the same three month period. The two announcements should be read in conjunction with each other.
Arbuthnot Banking Group Buy 02-Oct-12 £26,055.00 James Fleming 4,500 @ 579.00p
Commenting on the results, Henry Angest, Chairman and Chief Executive of Arbuthnot, said: "This year has been one of continued transformation where significant milestones across the Group have been achieved. All of these have enabled the Group to make good progress. The current market environment has allowed the Group to attract high calibre people, who along with strong capital and liquidity are enabling it to enhance significantly both its banking businesses. However, we remain cautious and monitor the developments in the wider economy with some concern."
OPERATIONAL HIGHLIGHTS Retail Banking - Secure Trust Bank · Pre-tax profit increased to £12.5m (2011: £5.0m) · Acquisition of Everyday Loans has broadened distribution channels and added further diversification to its lending portfolios and contributed a gain on acquisition of £8.5m (net) · Underlying profit grew by 50% · Overall loan book increased to £260.3m from £123.9m including £71m from Everyday Loans · Retail deposits funded loan growth and closed the period at £297.9m (2011: £217m) · Total customer numbers grew by 58% to 198,767. Private Banking - Arbuthnot Latham · Pre-tax profits increased to £1.4m (2011: £1.0m) · James Fleming joined the business as Chief Executive at the end of the first quarter · Strong capital base and excess liquidity enabled the business to maintain its ability to take advantage of the lending opportunities · Gilliat Financial Solutions has consistently increased its sales volumes and completed its first overseas product offering
ARBUTHNOT BANKING GROUP ("Arbuthnot" or "the Group") Results for the six months to 30 June 2012 Transformation continues Arbuthnot Banking Group has continued with the transformation of its business and has traded strongly in the first half of 2012. During this period the Group completed the disposal of the securities and Swiss businesses, cancelled the share premium account and considerably expanded the retail banking division through the acquisition of Everyday Loans. It has recorded a profit before tax of £10.8m and both of its Banks have continued to demonstrate strong, controlled organic growth. Arbuthnot Banking Group PLC is the holding company for Arbuthnot Latham & Co., Limited and Secure Trust Bank PLC. FINANCIAL HIGHLIGHTS · Group pre-tax profit £10.8m (2011: £0.2m) · Gain on acquisition £8.5m (net) · Customer assets £543.4m (2011: £356.2m) · Group earnings per share (EPS) 50.9p (2011: 8.4p) · Interim dividend per share (DPS) 11p (2011: 11p)
http://www.investegate.co.uk/Article.aspx?id=201207260700065187I
Director's Dealing Secure Trust Bank PLC received notice on 12 June 2012 that, on the same day, Paul Lynam, Chief Executive Officer of the Company and Andrew Salmon, a Non Executive Director of the Company, purchased respectively, in the market 2,200 and 7,500 ordinary shares of 40 pence in the Company ("Ordinary Shares"), at a price of 1040 pence per Ordinary Share. Following this transaction, Paul Lynam holds 8,800 Ordinary Shares and Andrew Salmon holds 7,500 Ordinary Shares.
http://www.edisoninvestmentresearch.co.uk/researchreports/ABGUpdate130612.pdf
Commenting on the results, Henry Angest, Chairman and Chief Executive of Arbuthnot, said: "Despite the mixed performance in the first half, we remain positive about the rest of the year. The completion of the intended placing of new shares in Secure Trust Bank PLC will mean we can accelerate growth and substantially increase profitability."
Arbuthnot Banking Group (ARBB) reported a 91% fall in pre-tax profits to 0.2 million pounds for the six months ended 30th June 2011 as its investment banking arm, Arbuthnot Securities, suffered exceptionally difficult market conditions. Despite this, pre-tax profits for its retail banking and private banking both rose, with client numbers increasing significantly and its loan book size and assets under management both growing at double digit rates. Arbuthnot shares closed unchanged at 342.5p.
http://www.investegate.co.uk/Article.aspx?id=201107290700163258L
Commenting on the results, Henry Angest, chairman and chief executive of Arbuthnot, said: "Arbuthnot Banking Group performed well in 2010 across all its divisions. This is the result of our prudent approach which has served us well throughout the financial crisis. We now have a strong platform on which to make further progress this year and, while maintaining the important caveats of the fragile status of the geopolitical and economic environment, we are optimistic about the outlook for 2011"
OPERATIONAL HIGHLIGHTS Private Banking - Arbuthnot Latham · Customer deposits grew £57.5m to £349.5m (2009: £292m) and loans grew 19% to £211m (2009: £178m) whilst improving interest margin and asset quality · Loan to deposit ratio at 60%, maintaining strong liquidity · Pre-tax profit increased to £1m (2009: £0.2m) as the core Private Banking business began to see the results of the market opportunities that have arisen during the financial crisis Retail Banking - Secure Trust Bank · Profit before tax reduced to £8.5m (2009: £10.2m), but underlying profits up 19% after one off items · Good progress in developing three main lending activities, motor finance loan book grew to £31.3m (2009: £4.7m), point-of sale asset finance (mainly musical & cycle) grew to £21.4m (2009: £6.4m) and personal loans grew to £25.8m (2009: £14.8m) · Current account with prepaid card re-launched with cash reward scheme, account numbers growing to 9,576 (2009: 2,740) Investment Banking - Arbuthnot Securities · Returned to profitability with pre-tax profit of £1m (2009: loss of £0.1m) · Trading book performed strongly, recording a profit of £4.4m (2009: £3.7m) · Completed 16 corporate transactions including main market IPO of Shaft Sinkers Holdings PLC
FINANCIAL HIGHLIGHTS · Group pre-tax profit £5.1m (2009: £5.1m) · Group earnings per share (EPS) increased by 7% to 25.0p (2009: 23.4p) · Dividend per share (DPS) up 1p to 23p (2009: 22p) · Capital, liquidity and balance sheet remain strong
http://www.investegate.co.uk/Article.aspx?id=201103170700111047D