Member Info for Jinny122

Very important thing to remember. As metro's loan book is 100% deposit funded, it will need to sell or call in these loans to repay depositors who want out

In reality that means nothing to depositors. In economic downturn / turmoil they'll pull out of Metro and into LLOY, RBS etc.

Thats the problem for holders here. The lower the SP goes the less likely a TO is to ve agreed and so on and so forth.

A t/o or a wipeout via emergency rescue, not sure which will come first here

Unfortunately interests are not aligned here. New ceo holds zero shares, and believes in the turnaround strategy. Shareholders meanwhile have been reduced to rags and begging bowls.

The founder's 3.55% stake is now worth just £7.3m, vs. around £123m at peak.

Wouldnt you write it off and hope for upside if you were a billionaire?

They bought at £30 /£40, but didnt touch it at £2 and now its £1.2.

Bacal bought but now withmassive losses.

Cohen has been dumping them.

Management wont buy either. Smart move in hindsight.

Read the signs

Big holders have written this off. They wont buy more and havnt done for 5 months, they wont defend it or speak in its favour to press, they wont sell and take losses.

A truely lost cause.

Best breaking up and piecemeal sale for sake of holders here

Complete loss of credibility, even the turnaround plan was dismissed / ridiculed by analysts. Took them 4 months aparantly to come up with that. They're done. Its over.

Metro growing revenues in this competitive environment / potential recession: Forget it

Metro re-focusing on specialist 95% mortgages in this environment: Bad debt magnet

Metro raising MREL capital in this environment: 15%/20% interest rate you better believe

Dishing out more unsecured personal loans in this environment: Bad debt magnet

Metro growing or keeping deposit book in a recession: Forget it, depositors will flee to larger more secure players

Metro attracting high calibre chairman / directors: Forget it

Metro coping with a 50bps interest rate cut: Forget it

And there you have it, the supposed turnaround strategy is already a busted flush

Bigsmoke, very good observations.

One point I'll add to that is that the volumes traded on 26th were nowhere near large enough for GS to have built that stake up on the day. Its clear that other parties transferred their previously existing holdings to GS for some readon on the 26th

MerMillions, are you trolling? How much lower can they get from £40 previous LOL

Why remove the perm risk officer and hire an external interim who knows little about the bank from inside? Why wasnt he permanent?

Theosus, he's rated as one of the best risk managers in the country and was hired under the current leadership team. There's something more to this

And this bank is supposed to look after £14.5bn of people's money. Crazy times

https://news.sky.com/story/metro-bank-faces-more-turmoil-over-new-risk-chief-11949305

Big holders: Can build stakes and/or acquire company cheap with benefit of declining SP

Shorters: Can increase profits with benefit of declining SP

New investors: Will hold out with hope of buying in with benefit of declining SP

GS/JPM/LLOY etc: A declining SP makes any TO cheaper and more likely.

New CEO: Declining SP helps to reduce the strike price of 100,000 share options when issued later this year

Existing retail investors: Get mugged

GS Inc notified on 26th but it wasnt the shareholder. The shareholder was GS International based in London. Then on 27th GS Inc notified as the shareholder thiis time, saying it only has 0.34% holding. This seems a way of managing internal transfers. Otherwise they would have had to issue 3 RNSs instead of 2

Maybe they transferred them to Marcus's UK entity. Potentially internal re-organisation of the holding

Didnt sustain any move up with LLOY takeover rumours, didnt move up on Bacal accumulation, didnt move up on initial GS Marcus rumours, didnt move up on JPM rumours, didnt move up on CEO appointment, Didnt move up on December's short position reductions, Didnt move up on new strategy announce,didnt move up on GS's 8% stake building before it was known, and now subdued after GS stake RNS announcement.. Holders need tons of patience here.