Member Info for martin9325

True about the French clearing the ports, I came through Ouistreham this morning and didn’t see one African person hanging about. In my mind the main problem with LLOY is that Brexit will increase corporate bad debts, a no deal increase them more. Article 50 being rescinded would be great for the share price, but failing that it is wait and see. If Brexit is not as bad as feared then the share price will recover slowly as confidence returns.

As I read it they are repaying £75 million of existing bonds before they can be converted and adding another £75 million, all of which could dilute the shares if they get converted in 6 years time. It is more likely that in early 2025 they will either redeem them with cash the company has generated, or issue new bonds or a combination of both. The good news seems to be that the interest rates on the present bonds is 5.375% and the replacement bonds may well be under 3%. I expect the share price will recover.

You win some you lose some. I am sorry to have lost a bit here, but that's life. I am glad that the staff, many low paid, have seamlessly continued their work, albeit technically for a new company. I should have sold after the first profit warning but didn't - a lesson I never seem to learn. Happily my holding was small, commiserations to those more exposed. I'm moving on, no point crying over spilt milk, but thanks for all the comments - I learn from the input of others more knowledgeable than me.

I only had a few of these and mentally wrote them off months ago. Does anyone know if Coltrane were also shorting the stock, thereby coming out of this without a loss? The 30% owned by retail investors were all wiped out, but players like Coltrane can borrow stock as well as own it - if they were shorting to cover their losses on the shares they own I think the regulators need to take a look.

I hold my Interserve shares in an ISA and I can see better reinvestment options for the money held in a tax free environment than taking up the offer. Coltrane I assume will want more money from the shareholders as they are offering the lenders significantly less of the business. So as the Dragon's say, I'm Out.