Member Info for bigsmoke

this must be an under the radar short. none of the declared upped over the last week. in fact, vole gone down. so, threshold being 06 July 2020 - someone took a 100,000 loan out to lid the price, or ride the current prospect of another 'second wave fear' dip.

850,000 - up another 100,000.

no change

https://www.mortgagestrategy.co.uk/opinion/opinion-lockdown-life-through-a-lenders-lens/

"Like many lenders, Metro Bank reacted quickly to ensure that we kept our services running as close as possible to normal. There was minimal impact to our turnaround times,?with all teams supporting our mortgage business available on their usual contact numbers. The advantage of having an existing digital valuation solution meant we were able to keep our mortgage range in the market."

moving up nicely

not a lot of income stocks around - esp paying 14%

Sharpe Shooter: Bank of Ireland's UK chairman to head board of Metro Bank
https://www.independent.ie/business/irish/sharpe-shooter-bank-of-irelands-uk-chairmanto-head-board-of-metro-bank-39351921.html

all on the assumption you believe everything read in the press

"The Company partners with specialist lenders who offer attractive products based upon their understanding of particular sectors and target customer groups."
...
"The Company may also take equity stakes in selected investments that are aligned with the Company’s strategy."

doesn't debbie know - "Honeycomb Investment Trust (HONY) is dedicated to investing in credit assets originated by non-bank lending platforms and other originators of specialist lending assets, primarily in the UK."

zc - why not ask IC, they reported it. i quoted it. or were they just peddling what some posted on here?

some peeps need to grow up

"John Cronin, analyst at Goodbody, said he did not expect the hire to affect Metro’s strategy, but added that Mr Sharpe’s contacts book could help the bank as it considers potential deals to help with its turnround or an eventual takeover."

“He’s been around a long time, that could help open doors from a dealmaking perspective, which they may need to do over time,” Mr Cronin said."

"...Mr Frumkin bought £570,509 in shares at 114p as part of a requirement for executive directors to own shares worth twice their annual salary. Under this rule, he has another £1m to spend to hit 200 per cent of £740,000."

REPEAT

"Under this rule, he has another £1m to spend to hit 200 per cent of £740,000."

"Mr Sharpe is also a former leader of more traditional financial institutions and confirmed dealmaker"

"By that time, Metro could have already made a significant acquisition. The company entered into an exclusivity deal with peer-to-peer lender RateSetter last month. The size of the possible deal is unclear, given the possibility to Metro buying just the platform or taking over the £800m loan book, as reported by the Financial Times. The second option would involve buying out the company’s investors"

"Earlier this month, chief executive Mr Frumkin bought £570,509 in shares at 114p ... The purchase came with the shares at a sharp discount on the share price when he started the job, when it was 190p. The bank was trading at over 2,000p in January last year."

and that was "just" from the Telegraph...

https://www.youtube.com/watch?v=3Yd4GG3bed0

"... through multiple acquisitions..."

"...before it merged with Nationwide..."

"...Takeovers are likely be back on the agenda at Metro... "

"Its share price ... 500p this time last year."

"Mr Sharpe, famous for his lucrative pay-off at Portman Building Society and a scandalous affair with a colleague half his age, was credited with transforming Britain's seventh-largest society West Bromwich after the 2008 crash."

NOTE:
"Before the crisis Mr Sharpe turned Bournemouth-based mutual Portman from the 13th largest society into the third biggest through multiple acquisitions, before it merged with Nationwide in 2007."
"Takeovers are likely be back on the agenda at Metro, which is in the middle of takeover talks with peer-to-peer lender Ratesetter as it battles to revive its fortunes. "
"Its share price remains depressed, however, at just 115p compared with more than 500p this time last year."

Metro Bank has appointed industry veteran Robert Sharpe as its new chairman - Financial Times

Metro Bank brings in dealmaking chairman - Investors Chronicle

Metro Bank names new chairman to drive turnaround - Belfast Telegraph

Metro Bank appoints Robert Sharpe as new chairman on ... - Evening Standard

Metro Bank hires building society 'bad boy' as chairman - Telegraph.co.uk