Member Info for wokinpark

Was this mentioned yesterday or conveniently left off so not known at the meeting

Without being sarcastic, you realise they are 2 completely different things ? MTRO as a business will have major compliance aspects that would need sign off on from BoE, PRA, Uncle Tom Cobbley and all. if you need a Xmas tree you buy a tree not the forest.

I assume the uptick today is due to the potential cost savings from opening 6 days a week and cutting 20% of staff. i would have thought the former is well overdue, staff cuts could be done by natural wastage, ie resignations, rather than redundancy. move with the times whatever Nationwide are saying. 2024 could be a decent year for MTRO once the new shares issue and background stuff is put to bed. a bit of organic growth rather than consolidation might be a better way forward. AIMHO

Each resolution passed by minimum of 90% in favour - see top of the web page for the RNS detail

If approved, the new shares are being added to LSE on 30th at 8am

Ok thanks for clarifying. happy SP is rising but it feels as if they wants PI's to get out now. GK what the Board were up to.

Hi mt11 i dont think they are allowed to do that ? shareholders have rights to participate unless we have waived already ? are you suggesting we have to waive for this to take place ?

I assume 500m shares to be issued at 30p. if all current equity shareholders take up their rights at whatever x for x they are offered, how does Spaldy get 53%

Bad wording, i meant expat accounts of UK account holders

Brixton, the BoE have guidelines for this sort of thing. you can attach any fad words as you like to it, but ask Barclays where the closing accounts of non-UK residents guidance comes from.

I think the company and financial advisers are to blame for this inept handling so far

But is this a manufactured crisis ?

yes they need to replace the 350 bonds in October 25 (?) however quite a few of the media reporting that it is October 24 but what is the other 250 for if the bank is profitable and yes was told to go away and think again about the capital relief rules but is that really a cause for alarm ? im not sure i get the panic/crisis ? if there is one, in my view the financial advisers need sacking fior the inept way they have handled this never mind the Bod.

Theres no way they were going to refi the 250 due in 28 now. thats a job for another day say 26 or so. i reckon the 250 max, prob min 100/125 was to strehgthen capital base to get better margins however they are measured.

Yep, not even sure what they need the other £ 250 for unless it is to get round those Capital Relief numericals they needed.

Dansey, no one can explain it unless they are in the know. someone leaked it (im assuming here) for their own reasons (not the first time, not the last) its how does the company deal with it. MTRO is not very good at communicating with the market/SHs and that wont change. they need a mini Stephen Hester to sort it out to either get it on its own 2 feet or in readiness for a sale.

I doubt anyone would touch him at the mo for the collateral damage it would cause

The Odious one missed a key chance here !

October 25 ? that would have been going on in the backgraound no doubt. whoever leaked the capital raise for strenthening the bank knew exactly what they were doing.

They are just a badly run organisation. GK why i invested in it for. the time to have done a capital raise was immediately after the H1 2023 results or to seek another offer. they are not going to be able to go it alone in the UK banking market. need deep deep pockets or become too big to be allowed to fail.

The debt repalcement is 2 years away and not urgent until spring 24 imho.

they should have sold up to Carlyle at 115+ rather than go through all these shenanigans.