Member Info for Nuwanda

Every cloud has a silver lining (or perhaps, with LBG, every silver lining has a cloud ;) )..............

To achieve a 3.90bn share buy back, the balance of shares need to be bought at an average of 53.223
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 51.050
To achieve a 4.10bn share buy back, the balance of shares need to be bought at an average of 49.048

To achieve a 3.90bn share buy back, the balance of shares need to be bought at an average of 53.011
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.931
To achieve a 4.10bn share buy back, the balance of shares need to be bought at an average of 49.008

To achieve a 3.90bn share buy back, the balance of shares need to be bought at an average of 52.976
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.914
To achieve a 4.10bn share buy back, the balance of shares need to be bought at an average of 49.006

There is a big difference between the motivations of Institutional and Retail investors. Institutional investors, by far, have the biggest holding and, currently, favour a mix of buybacks and dividends whilst also covering any internal risks.

My own thoughts, are not to kill the golden goose (bit of an oxymoron with LBG, I know). But big dividends raise a high profile, attract headlines and then Governments are tempted to intervene to tax 'excess' profits; often in perpetuity.

Thanks HU - I am humbly standing on the shoulders of a giant.

Well, the algorithm certainly decided that todays dip was a buying opportunity.....

To achieve a 3.90bn share buy back, the balance of shares need to be bought at an average of 52.926
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.887
To achieve a 4.10bn share buy back, the balance of shares need to be bought at an average of 48.999

And just for fun.... To match last years buyback volume, the balance of shares would need to be bought back at an average of 42.274p, which would suggest that the share price is trending it the right direction over the long term. IMHO.

Maybe you could bring back some French accessories for our BOD's to help nudge the share price along. Right now, LBG isn't fashionable :)

Thanks, as ever, HU.....

A slight recalibration on the 'target range' just for entertainment......

To achieve a 3.90bn share buy back, the balance of shares need to be bought at an average of 52.827
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.832
To achieve a 4.10bn share buy back, the balance of shares need to be bought at an average of 48.983

Bronco

Does your break even price include the divided? If not, then the current 49.2p is really 50.8p. You will still get the dividend if you donate to the buyback fund today and sell at 49.X

Still some capacity for a significant share cancellation.

To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 62.318
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.970
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.795

Thanks, as always, HU.....

To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 62.080
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.858
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.770

Thanks HU.

To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 61.320
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.495
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.680

As a random thought, with the 4.5m shares cancelled last year, LBG have saved a further £72.459m that would have been paid out in the up coming dividend pay-out had they not been cancelled.

leas

Do you mean people 'gambled' that the post div share price would fall by more than the div? If so, then yes, that gamble has not paid off to date (as you say).

Bertram

Not sure how LTI spent there's, but I spent mine reflecting how happy I am to own an increased share of LBG, without having to buy any new shares or pay any fees, as a result of the subsequent Buyback(s).

BLB

The mis-selling of Mortgages Boat has sailed - it was the Endowment Mortgage 'scandal'

....and shares you held pre ex-div are worth the current price 48.7p + 1.6p (Divi) = 50.3p

You're welcome.

A very smart buy, well below the averages, today; with plenty of capacity to keep buying below the average. It cashed in on the Ex-Div sellers, and appears, in terms of volumes bought, to anticipate upward movement.

To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 60.755
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.216
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.603

Very well calibrated algorithm - wish I bought on logic and not sentiment lol

Like it or not, Covid changed strategy for just about every businesses - extinguishing some, igniting others. Only in hindsight can we see the real pro's and con's of decisions made.

Fact is, large investors would have been consulted on their thoughts on the post Covid strategy, and have shown confidence in the BOD. As retail investors we know, before we invest, that we are minority (minnow!) investors, and will not get a voice if a decision does not go our way. Nothing is ever certain, until the money is in our accounts. That said, I personally support the eventual buybacks for long term value (which, granted, has yet to fully crystallise).

I believe everyone is telling their truth as far as they recall, interpret and believe it. But an outcome has been reached and that's the end of it. It may suck for some. Yet it reminds me of my divorce settlement. I could either complain about how unfair it was - half of my inheritance gone, half of my share option bonuses gone, half of my pension gone, bla bla - but complaining (my emphasis) would never change anything, and I'd just be bitter. So I accepted it, moved on and found other ways to make the money back. From the Covid low, the FTSE 100 is up over 50% so a little investment there soon replenished the Nuwanda beer fund.

IMHO this thread should end with an agreement that we can't all agree, and we continue our journey on the good ship LBG, with it's rollercoaster of highs and lows, along with the myriad of opinions.

To achieve a 3.50bn share buy back, the balance of shares need to be bought at an average of 60.755
To achieve a 3.75bn share buy back, the balance of shares need to be bought at an average of 55.216
To achieve a 4.00bn share buy back, the balance of shares need to be bought at an average of 50.603

Pure speculation, but I think the algorithm is anticipating a/the ex-div dip.

GAZZ.

I totally agree. I wasn't clear; apologies. I meant mainly the BOD where a substantial proportion of their earnings is paid in shares, released over 3 years (I believe). Also PDMR's to keep them focused and loyal (discuss over a bottle of Port).

Employee Share Save Schemes are a no lose for employees - they either get their savings back or exercise their options if profitable. It's also optional to participate.