Member Info for Discus1

Thanks Solley - ps my moms 86 and she’s fitter and smarter than me ! GL

Bought ITV today as felt this was a good entry and perhaps lower risk than some other bargains - close on 10% Divi and just perhaps somebody will come knocking on the door at this price when things settle back down.

9.018%

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Thanks BS interesting articles -

this is why it makes such a tasty starter for a predator with deep financing pockets. Removing those costs will quite quickly return the metro to positive cash flow now the expansion plans have been reigned in. We know other lenders are paying book value for mortgage books of the supermarkets for example - why not take metro on the cheap for these assets. Looking forward to more trader/shareholder positions this week.

19M traded results week) 9.5M bought 5.5%

17M share traded last week 8.5m bought 5%

So 10.5% of banks shares bought in last 2 weeks - we know Bacal took 2%
Who’s taken the rest - shorts closing or secret acquirer

So if GS had acquired around 6% actual for a client which was mis quoted running up to the results - another 7% have been bought since then in my back of the fag packet calculation - prefer it if GS still accumulating for client due to benefit of short squeeze when announced - but if the case surely 30% could be in site if Bacal/VH are inside as billionaire mates -

Hi Jinny

Would not disagree - however how about

OPTION 3 - take option 1 bonus on stock after take over and then continue to manage the company as a separate group on behalf of his friend Bacal for the next 5 years.......

Now the markets closed - well that was a tough week -I’m amazed I’m still holding! Should have averaged down but did not have the courage - but for me the story’s not changed just CV sticking its nose in- fingers crossed for a better week next week- personally if I was considering a bid I would not believe my luck and would be all over it the weekend - but who am I to say....GLA

Now that’s funny - you don’t buy £25M By accident over a few days- whats more important - who’s got them now!

Off course add a few friendly Americans together ( Bacal as well) and they are closing in on 30% - BS good spot on the date - who’s been adding since

Matlot was right to look for others!

How to fix - Jinny

Simples sell 2 billion of the mtg book just like the supermarkets - but hang on minute- won’t someone realise they can buy the whole company instead for that much! Hmmm What would you do....

Just a reminder that if VH was interested then after Wednesday the minimum he would have to offer if he reaches 30% would be £5 rather than £9.16 before this date. Quite a difference -especially if he had acquired 30% around £2 per share. Would drop the average to £4.07. That’s still well under 1B to buy the lot !

RKB thank-you for your efforts appreciated and look forward to continued analysis.
Indeed Warren Buffett would agree with you that checking out an establishment is certainly worthwhile to invest well. He reminds people that he would never had invested in American Express without noticing how many cards where being used which has created one of his most successful purchases. IMHO risk based pricing which they currently don’t use will easily move the loan numbers. Through experience customers are not always pleased at higher rates than advertised but it seldom stops the loans being taken out. A typical competitor in a busy town will knock out 10-15 loans a week so could generate an extra £280M a year on a simple policy and system change. (Based on average 10x7500 loan) and there is no reason why every other interviewed customer could not walk out with a credit card.
3 per day per adviser - 9 per day per branch - £2000 average limit - creates big numbers. This is an actual target of a competitor bank- though of course it’s purely service related.

Hi T - not from page 12 -54 ? Does this help

Cheers

Sorry try again!

https://www.metrobankonline.co.uk/globalassets/metro-bank-financial-statements-31-december-2019.pdf

T - try

https://www.metrobankonline.co.uk/globalassets/documents/investor_documents/trading-announcement-h1-2019.pdf

Thanks BS

RNS Number : 5587E
Metro Bank PLC
28 February 2020

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii:
Metro Bank PLC
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights
x
An acquisition or disposal of financial instruments
x
An event changing the breakdown of voting rights

Other (please specify)iii:

3. Details of person subject to the notification obligationiv
Name
Ennismore Fund Management Limited
City and country of registered office (if applicable)
London , United Kingdom
4. Full name of shareholder(s) (if different from 3.)v
Name
1) Ennismore European Smaller Companies Fund
2) Ennismore Global Equity Fund
3) Ennismore European Smaller Companies Master Hedge Fund
City and country of registered office (if applicable)
1) Dublin, Ireland
2) Dublin, Ireland
3) Cayman Islands
5. Date on which the threshold was crossed or reachedvi:
26 February 2020
6. Date on which issuer notified (DD/MM/YYYY):
28 February 2020
7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)
% of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached
2.10%
0.97%
3.07%
172,420,458
Position of previous notification (if
applicable)
n/a
n/a
n/a

Indeed ....around £1.3M

So with ENA only buying back 0.44% around £1.3M - yesterday with 7,838,380 traded Who bought the other 3,540,690 £6.3M? Around 2% Not all retail that’s for sure- TR1 due?

Then we have 3,399,125 traded today - another 1% bought overall

GLA