Member Info for zccax77

VH's mates own 65%+ of the equity of MTRO, I would hardly call that a drop in the ocean. Their average price paid is £12 a share, so I doubt they sold their holding at £2.80.

Not sure I would short at 30p.

Why are they not selling Xanadu and the costa del sol land? Seems to me the BoD are fiddling whilst Rome burns.

Capital and regional has a lot of London based properties which are more resilient and have development potential. Plus their debt is only 400m compared to 5bn for intu.

Vitabella I think you are right. Mgt have run out of road

I am curious re why they stopped marketing one of their Spanish properties.

Tomorrow will be brutal, since a lot of the rental income decline from H1 credit events are yet to flow into the p&l.

@ GeordieShores apologies for my troll remark.

Metro bank has a CET1 of 16.2% versus a requirement of 10.5%. Meaning it is over-capitalised by £500m. So whoever buys it can take that out, and will factor into the buy in price. £500m divided by 172m shares is £2.90. I love how trolls think mgt will sell the business for £3 a share when the cash alone is worth £2.90.

GeordieShores, the uncommitted cash on MTRO's balance sheet alone is worth £2.20 a share. So you expect them to sell the business for 80p a share which has a bv excluding cash of over £8.00?

Thanks warren

The problem with Lloyd’s being the predator is that a lot of metros branches are next to Lloyd’s. What would they do with these hugely expensive branches which are now surplus to requirements?

Can we please keep things civil.

I know those bonds are doing a nice recovery. Bodes well for the future of metro.

Key word in hsbc q3 results pushing sector down

These losses already in the credit impairments line of the P&L. An article about a £2mn loss, they are getting desperate.

Sudnal: I would take anything management say with a pinch of salt. Especially equity raises. There is a reason the market does not trust them.

A lot of commentators keep on banging about zero profits. Metro has been adding 100k new customers a quarter. That is 400k per year. If you value each of these at a conservative £100, that is £40m of added value in terms of intangibles per year. Metro cannot recognize this on their balance sheet under ifrs, however a potential bidder would. So in my thwarted analysis even if profits are zero metro is still generating 10%+ in terms of shareholder value each year. You would eventually see this being monetized come m&a event whether this year or in the future.

I don't think you can compare this shower to BUR, those guys defended their business against the sharks like nothing I have seen before. The C suite of mtro thought they are amazing right up until the MREL got cancelled and they realised what the market really thinks of them and their stewardship. IMO director buys don't seem to do much for the share price when you consider Donaldson only buys with a couple of weeks of pay. What I want to know is why is Hill not doing some hoovering.

Frances Coppola: This woman is highly biased based on her Twitter profile.
-) She forgot to mention that 80% of the rent is paid by the safe deposit boxes, therefore the stores are affordable.
-) The problem is not the stores but head office expenses which are almost half the costs and employ half the people. They need to restructure there to get any benefits.
-) NIM is down mainly due to negative publicity surrounding what has happened this year, they need to retain/attract deposits to function hence the promotional savings rates. This will improve next year since this fallout and negative publicity will disappear.

Each store has 25 employees who will be more thinly spread out over a higher number of customers so I assume you will not get the same service compared to a brand new branch. It is all relative.