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With the biggest shareholder (a billionaire) now owning 53%, he could easily pay 250 million around £1.40 a share to put the original share holders who own 173 million shares finally out of our missory. Then pay of these expensive bonds that we are paying stupid % of interest on. Replay them with his own millions an charge a reasonable 5 or 6%. Metro with reduced interest costs will then be a profitable bank.
Or are we original share holders who now only own 25% of the bank just going to get cheated out of our shares over the next few yrs for free like they have just done with the share dillution.
Mortgages are less risky then unsecured loans and credit cards. And if loan to value on a house at say 80%. Why do they have to hold so much capital incase of losses.
There saying if they sell 3 billion worth of mortgage they will reduce 1 billion they have to hold.
Why have ro hold 33% in case. Doesnt make sense. No point doing motgages at say 5% interest if you have to tuck away 33% in cash.
An if people dont pay the house would have to drop a lot if they had a amx loan to value of say 80%
With 500 million more shares in issue we have 673 million shares. If metro ever hits 1.5 billion value again that would only be £2.22 a share.
Still got the issue down the line when these bond next mature what do we do then
173m shares in issue, market cap £71m..Gilinsky could have bought the company outright then some for £102m...I suspect the issue price will be alot higher than current share price on the expectation that the price will bounce back once the markets digest the news otherwise why not just buy the bank outright?"
How could he have bought the company out right id rather loose the lot as am sure others would also then sell based on a value of 71 millon
If main shareholder puts 102 million in now owns 53%. Other people put 48 million in to make the total 150 million. Sounds like 75% of bank has been given away and all previous share holdwrs own the remaining 25%. Does anyone agree?
Metro only have 70 odd branches which are in big cities and 80% of rent is covered by safe box rents. Surely this would be a good buy for a online bank.
The board have been a joke. Very little announecments or clarifying. Failed to pass on offers takeover offers to shareholders.
The regulator wanting more competion are a jike with there capital requirements moving the goal posts all time. No one in the right mind would ever start a new bank in the uk now.
Also why is short selling not band in the uk? How can the regulator let a profit bank be brought to clapse. Joke of a country this now.
Probably be whole bank for £1. Again they should not have been arranging deals until metro have finished negotiating.