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I believe it was buying ahead of shares going ex dividend today. That's why they have now fallen back to where they started.
Received an update from Signature today. Depressing reading as a whole host of issues, 90 million phantom shares and funding difficulties mean the payout is disappearing before my eyes. If they go to court to defend some of claims on payout it could take years to resolve. Just as well I was not planning on having money for Xmas.
Hi. Did they mention when they are likely to be in a position to pay the compensation to the shareholders who were not late in signing up?
Wish I could but there has been no funds distributed to date and there is legal dispute ongoing between action group and the solicitors who represented during court case. If this goes on much longer there will be no money left to distribute. I was also member of staff at the time as were a lot of members. Think you made right decision as I am out of pocket £1600 on top of initial loss.
Just spoke to person who answered the phone. Which was a surprise as it had rung out previously. Did not get her name. Agree on quality of letter is very pòor compared to Signature. Supports the 'cowboy' claims made by Signatue. Dont see any harm in submitting information on shares they are asking for. Might get paid by both.!!!!!!
Received 2 letters this morning. One from AG saying Signature solicitors sacked as fees too high. Other from Signature with comprehensive attack on AG and way it is run and asking me to deal directly. Totally confused but one thing for sure more litigaton will reduce the money in the pot for us hard done by shareholders.
You share my feelings regarding this farce. However I see article is almost 3 months old and having spoken to AG last month I was told process on course for payments to be paid in Autumn
100% agree. RBS is still a massive comany and 70% state owned. To talk of going to wall very silly as it is too big to fail as demonstrated in 2008. Can you imagine 30% of british public (RBS/NWB/UB) loosing their savings, cash machines not working, small businesses having overdrafts frozen? As for McEwan the strategy is set for next 2 years and his passing over to another Exec no big deal. In 2 years time when all issues resolved RBS will be paying dividends and share price will double.
Hi honest bob and slinger1, Agree in ideal world RBS would have paid out a fair compensation to all without need for any party to go to court. But we are in the real world and RBS are protecting current shareholders and past executives. It was easy to join the AG simply downloaded form from their web site, completed it and sent it off with cheque for £200. Unfortunately subsequent cash calls has increased my contribution to £1600. I therefore fully take on board point of pensioners not being anle to aford this. However I jave not yet recieved back a penny of my original investment or AG fees. Not recieving replys tl e-mail and phone ringing out. The settlement said funds would be distributed via AG. Anybody else in similar situation? Will keep you posted but feel there is still long way to go before I get cash.
RBS is only paying compensation to the groups who they settled with. Everybody else has missed the boat as legal acrtion is time limited to 7 years post rights issue. I appraoched and joined RBOS AG 6 years ago and have had to pay £1600 over the years to help fund group action. So have no sympathy for those who wish the rewards without shouldering the financial burden and risks in taking RBS to court. Incidentally as part of settlement RBS did not admit any liability or wrong doing so chances of them paying up to anybody not a member of the shareholders groups is zero.
RBS not found guilty as no trial as they came to out of court settlement with those brave enough to sue. The setlment is no admitance of liability.
I saw this on the BBC and thought you should see it: Some RBS investors still refuse settlement - http://www.bbc.co.uk/news/business-4018434 I dont know how they can tell judge 13% are holding out as there has been limited consultation with the majority as far as I can see. Anyway it hás finished as far as i am concerned.
regestered and paid up members of thr RBOS Action Group. Membership closed a couple of years ago.
Aĺl seems to be settled now with AG accepting offer at mèeting last night. Reported on BBC and Sky. I am glad a line is being drawn at last
I joined in 2013 completing a form with no mention of different membership status. This explains a lot about the strange governance. I assume I missed the boat in getting full membership but this may prove to be fortunate in the long run.
Hi - I am also a member of the RBoS Shareholders group and have not been consulted at any stage despite being considerably out of pocket by responding to every request for more funding. I have e-mailed them saying I wish to accept 82p offer and wish no part of any break away group. No response received.