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If the market doesn't t understand it but you do, you will ultimately be the genius.

No Christmas spirit here....

Approximately how long would this type of wind down take? 6 months?

Whitelye, I have owned them for about 18 months and have been positively surprised about their quarterly information sessions. So much better than other REITs. Their portfolio team is quite young but I suspect they get good investment policy
guidelines from management. It feels a lot more solid than others I own (such as RGL and RLE).

AEWU (8.25). UK REIT's may be attractive due to relatively low and secured debt, reliable rental income and perhaps presently trades at discount due to uncertainty in real estate markets.

This blog has deteriorated beyond repair. What the F*ck does DJT has to do with LBG? BUT if it wasn't t for the rigged US elections (it is impossible to reject that fact by now) we would have oil at below 50, inflation below 4 and LBG at 60. AND NO bloody war in Europe.

When a company states "The Company will maintain flexibility when considering all future options including a return of capital, special dividend to shareholders or further share buybacks, with the view to maximising shareholder returns", after the share price has halved in a decade, it is probably not advised to double up but actually cut exposure. This company feels like a job enrichment scheme for the management as opposed to a solid investment for shareholders.

A long overdue review and any de-regulation from the Eu would be welcome and help the Uk compete with the US in financial services. Having been a "material risk taker" (FCA) in the UK bank helping to implement MiFid regulation it is my view that this EU regulation is mad. I am all for transparency but MiFid had nothing to do with the 2008 crash. The crash was caused by Bill Clinton and Robert Rubin who agreed to the 1997 Citigroup construction as long as the bank agreed to lend money to poor communities i.e. bad credits. They re-packaged it these bad mortgages and sold it a AAA investments. Regulators had no clue. Madness. This led to the credit crises. So the EU regulation did not address any issues in relation to the 2008 crises. The more regulation the bigger advantage to big players leading to risk concentration and less competition.
UK must go on a regulatory purge (like Trump did) to release innovation, get rid of red tape and inspire company formations.

I am not a Treasury/Bank Balance sheet guy so.... why do they do this??

As an ex LBG employee I transferred my pension to a SIPP asap.
I could not believe the insanely generous terms of the pension at lloyds (having worked on Wall Street before).
This business could be run at a fraction of the costs it presently demands. With more competence...

There is hope!

could not agree more.

Reads like an episode of Little Britain.

Carltt, if that was the case LBG share price would not have perpetually declined the last seven years while US house prices have risen...

You guys are right. I rarely look at the board anymore...
I feel Lloyds is in a relatively positive momentum right now with several banks upgrading/confirming their positive analysis. Here in Switzerland Bank Vontobel (never shows up on UK boards) has rated them a buy with target of 77p.
Recent trading seems to have shown some resilience to global risk issues as well. And soon speculation about the dividend will start. All of course depends on UK economics & politics etc. but the point is that if we have a calm environment I feel that finally LBG could slowly climb.

I cannot see that it ever traded at 28 yesterday.....?

The timing of Nunn’s new strategy of becoming a land lord appears to be rather poor with this outlook. As I wrote here at the time, this would be to double up the risk in one market in one country.

Does anybody know roughly how much of the shares are held by UK tax payers and hence may be impacted by such considerations? Where I live there are no capital gains taxes.

Many thanks both!

Thanks Hardup.
A simple and fair assessment. As I have written before, management have not added any extra value to the company since the Government got its money back. They cannot expand market share in retail due a "regulatory cap". Their Private Bank has been mismanaged for a decade (actually forever) and they mismanaged MiFid in the commercial bank while not working to expand their terrible market shares with SME and Mid Market clients. At this stage only cost cutting, good management of the balance sheet and improved interest rate differentials can create better returns. They thoroughly gave up on meritocracy about five years ago so loads of middle management is there for the wrong reason and the culture is very internally focused. Government is probably more in control of the share price than Lloyds itself....