Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The brochure suggests buy back price of less than or equal to 105% of the average midmarket ordinary share quotations for 5 business days preceding the day of the purchase. Seems reasonable. Though admittedly I've struggled to make sense of the bulk of the circular. They could have issued a friendlier version of it since we're not all lawyers. :-/
I posted the very same link on Scotgold (sgz) board last week. Seemed apt that the mining started 2 weeks ago to get goldfrom Scotland at the exact time world gold is climbing in price. Imo it looks like good addition to a medium term portfolio.
We can't really complain if RBS pays a bit more than the market price. Even more so considering this bank wouldn't be here if the government of the time hadn't bailed it out.
What price are they buying them back at? If higher than market price, this would be a rip off in terms of shareholder funds but then the government is the biggest shareholder ...
Exciting isn't it?
RBS announced that it will consult with shareholders next month about a share buyback from the government. I understand that rules dictate that the Bank cannot buy back more than 5% of its shares per year. Market has reacted positively. I've also read that any shares bought back will be cancelled, uplifting the cost of the remaining shares.
Would I be correct in thinking that if 5% of shares were bought and cancelled, that would immediately uplift the shareprice by 5%? For example, from 250 to 262.5? Or is that not the correct calculation/effect?
I see Neil Mitchell has resorted to erecting a billboard near Croydon to highlight RBS' nefarious ways. Where are you Tilting? Your take on the state of all things Neil Mitchell is eagerly awaited.
nice link from my fellow investeor over at lionsgold.
https://www.usmoneyreserve.com/blog/how-much-gold-is-in-the-world/
Small shareholders renew bid to make RBS a better run company https://www.sharesoc.org/sharesoc-news/small-shareholders-renew-bid-to-make-rbs-a-better-run-company/
What a sickening day on the markets yesterday all banking shares got a toasting the Huawei's chief financial officer Meng Wanzhou, who also is the daughter of its founder, was detained at Vancouver airport on a US extradition request. So because of that RBS shares take a " -5%" pasting......
Only a week before RBS shares dropped again about "-10%" on speculation that Jeremy Corbyn may become PM and break RBS into small chunks and sell them off......
Then you have Trade war thing going on with USA and China
What I don't understand is when all this Trade war thing has a 90 day truce I don't see RBS rise +10% and when this Huawei' thing which does not have much to do with RBS has been forgotten, will RBS share price go up +5%
when this Brexit thing is over with will RBS go up 100% ........ No I don't think so because share holders are getting Robbed with every trick in the Market Makers Book ...... What a scam !!!!!!!!! I hope 2019 is a better year for all Bank share holders !!!!!!
With 20% of portfolio holding for medium term
RBS passes test with flying colours say's BOE....WWWWWOOOOOOWWWWWW
There goes the special dividend ...
LONDON, Nov 28 (Reuters) - Banks in Britain are trying to prepare businesses for a potential cash crunch after Brexit, whether or not a deal agreed by the UK and Brussels this weekend is approved by parliament next month.
Banks fear Britain's departure from the European Union could cause a spike in bad loans with corporate clients, if it leads to delays in cross-border shipments and payments or big swings in sterling.
To protect against these risks some banks are extending credit early to companies and selling insurance against volatility in sterling.
State-controlled Royal Bank of Scotland trebled its "growth fund" for small businesses last month from 1 billion to 3 billion pounds ($3.86 billion), saying it had set aside extra cash to help customers to get through Brexit.
It said it may need to top up the pot again. "To a large extent it depends on the type of Brexit we get," Mike Slevin, head of capital management at the bank, told Reuters.
It has identified nearly 2,000 at-risk companies across several sectors it believes are exposed to a Brexit fallout.
These include those reliant on complex overseas supply chains – such as car part manufacturers and medicine makers – and those susceptible to an economic downturn - such as leisure and construction.
Credit being offered by RBS includes increased import and export funding, supply chain finance and bigger working capital lines for everyday operations, Slevin said. It is logging where credit is taken up due to Brexit to track the impact.
But take-up has been slow so far and small firms are not as prepared as they ought to be, Slevin said.
"Many want to hold back from increasing lines until a little closer to the time because of the cost. So it's a slow burn."
I do hope so.
Great stuff - time for capital to be returned to shareholders.
Apparently, RBS has lost its place among the world's most important banks according to the Financial Stability Board (FSB). The FSB's list is a compilation of all banks required to hold extra capital equivalent to at least one per cent of its risk-weight assets, due to their size and impact on the global financial system.
The list was started to gain the help of large banks in shielding taxpayers from any future crashes.
RBS was at one point the world's largest bank.
The released capital previously reserved for the list can now be returned to UK shareholders.
Yabbadabbado
UK banks are in much better shape now then maybe 5 and even 10 years back. Less overheads, Making good profits and paying a Divi, PPi coming to an End....
Just as RBS and Lloyds starts to get to grips with things this Brexit cr@p has to start when will this political stuff ever end.... Politics has always been a difficult pill for many but the economy still carry's on......All this Brexit chatter will all be history one day and the banks share price will recover.........
At times like this you will find all the greedy mugs come out of the wood works to knock everyone to bits so they can make good money from buying cheep same old history repeating itself.......
To be fair they pledged to launch a consultation on doing this in May 2017, I interpret this as examining the evidence first before making a final decision.
No wonder the sp tanked today. The Labour party has pledged in its manifesto to break up RBS …
Could not make it up ...
https://www.eveningtimes.co.uk/news/17217018.rbs-paid-contractors-400-a-day-to-stuff-envelopes/
ShareSoc-UKSA Resolution for the RBS 2019 AGM https://www.sharesoc.org/sharesoc-news/sharesoc-uksa-resolution-for-the-rbs-2019-agm/
I would suggest putting your money on the green party mate ! If you want to take a long punt !
I doubt if conservative government would survive that long. It is most likely that we would have general election in 2019, after briexit negotiation would be resolved. It is also possible that we might have another referendum on Briexit in 2019 followed by general election. So I think, government would wait for some years before all of RBS is privatized and if Labour comes, that wait could be decade. But then, as things are turning into, it might be better for treasury if wait is prolonged.
Any more sales expected 2018-19 ?
"....the government plans to sell 3.6 billion pounds of RBS shares in the 2019-20 financial year, followed by 2.5 billion pounds in 2020-21, 3.8 billion pounds in 2021-22, 4.7 billion pounds in 2022-23 and 6 billion pounds in 2023-24." :-)
http://www.cityam.com/267602/uk-government-sell-remaining-shares-rbs-2024