HBOS voting papers

Wig

The HBOS AGM/EGM vote that we have been sent is a bit complicated. How do I vote against the merger? And what's all the other stuff (votes) about?

Baldur

You mean that you haven't read through the accompanying document which made a dent in the hallway floor when it dropped through my letterbox?

fatpig_2

Will the turkeys vote for Christmas

sabretoothtigger

The majority of shares are held by big institutions who own many banks, they have already said they will back the merger as the best prospect for future growth.

There are 5bn shares and votes in hbos so if a million people with 1000 shares each vote against it they'll add upto only 20%, it'll go with city opinion


Its too late to reverse previous damage done, the 10 pound shares are gone forever as many more shares issued will at least half the price, its more like a quarter at best.

Buying into a strong bank with lloyds which mostly avoided the present troubles (upto now) is a pretty good choice

Wig

So no-one knows the answer?

sabretoothtigger

http://www.hbosplc.com/shareholders/GMOnlineVoting.asp

domcastro

Please vote for it. I don't want HBOS to go bust and wait for my compensation claim!! pretty please

sabretoothtigger

They wont go bust but the government would have to handle 300bn of debt. It'd be bad for taxpayers and customers as none of them would get a renewal and anyone who couldnt pay would have to sell.

Lloyds on the other hand wants to keep hold of customers, the good ones at least

FoxtonsRIP

Lloyds TSB have really messed up here. Nobody else wanted HBOS and rightly so

sabretoothtigger

Nobody wanted hbos bad debt, them did want their customers, the good mortgage debt and all the successful assets.

Lloyds is investing long term in being able to turn a profit from trading the positives against the negatives.
Personally I trust their judgement as much they did well to largely avoid the toxic debt in the good times

http://www.fool.co.uk/news/investing/company-comment/2008/11/18/why-i-voted-yes-to-lloyds-hbos-deal.aspx

Wig

Still no-one can explain how to vote against the merger. I'm surprised there are no HBOS shareholders here who have understood the ballot paper.