Standard Life Shares

ReportInvestor

Nice one, Midas.

Thanks for staying with us so far. Do look in occasionally to either gloat over / envy the survivors .

This question of Standard possibly being acquired raises the question of how a successful predator would deal with our 5% bonus shares due in July.

Any ideas? Any precedents?

Ian_W

Back under 280 - now Midas has sold. Grrrr, Midas!

Ho, hum, as George says, I think I'll wait and see what happens in the next week or so!!

Not sure about the bonus shares, don't think they'd need to offer them but would need to make their bid tempting enough to shareholders expecting a bonus.

ReportInvestor

I totally disagree.

They have to distinguish between institutional investors and the 2.4 million original members - otherwise any such bid would discriminate in favour of the former.

I [and the Investors' Association] wouldn't let the Standard board rest if they tried such a stunt.

Ian_W

Sorry RI - I'm not quite sure what rattled your cage about that.

The offer wouldn't come from the board but from the buyer, though the board may recommend it. It would be the same for all shareholders, if I understand correctly. If some shareholders, the majority still I'm guessing, anticipated a bonus of 5% next year then the offer to ALL shareholders would have to be attractive enough to win over the majority.

What's there to get upset in that? Particularly as no-one has yet made an offer!!

ReportInvestor

Such an offer would give to institutional investors proportionately more than their shareholding would be worth in August 2007 if there was no takeover.

And it would give to retail investors proportionately less than their shareholding would be worth in August 2007 if there was no takeover.

It's not my personal cage being rattled, as you suggest. I'm just speaking for the majority of shareholders.

It's not as if there couldn't be bids after July 2007. So retail investors would be well advised to wait if the offer didn't properly accommodate them.

Because any offer after July 2007 would have to .

Assuming the current institutional v original member stake is in a ratio of 1:2 then the same 300p offer to each shareholder (whether institutional or original member) is going to "cost" members of this forum 10p a share and "gain" the overpaid financial institutions 5p a share.

That's unacceptable.

And I won't tolerate it.

But I'd be interested to hear your reasoning, Ian.

Ian_W

Suit yourself then. If I'm offered £3 a share [anyone please?] I'll probably take it.

750 x 20p = £150
750 x £2.80 x 5% = £105

Bird in the hand and all that.

But maybe an offer will be different for the different classes of shareholders, so don't work yourself into a lather just speaking for the majority of shareholders quite yet. There may not be an offer!!

gt94sss2

ReportInvestor wrote:

This question of Standard possibly being acquired raises the question of how a successful predator would deal with our 5% bonus shares due in July.

Not that I am expecting a bid but this shoudn't be an issue.

If there was a bid, the bidder would have to offer the same price/share to everyone.

The Standard Life shareholder website is useless (I can't find a copy of the prospectous for instance) but I think you will find that it would have said something like 'if there is a sucessful bid in the first year, the bonus shares are issued immediately'

Regards
Sunil

Midas

Well they seem to be hovering around 280-281p if anyone wants to join me in the 'bail at £2.80 club'.

I think a bid for SL is quite likely in the next year or two, as they are just too small in the current world of mega-sized financial plcs. I also always had a nagging worry about more 'bad news' emerging from SL and hitting the price. (the effect of being one of their policyholders i think). Hence my decision to jump now. A bird in the hand and all that.

Yorkshireman_3

Midas wrote:

Well they seem to be hovering around 280-281p if anyone wants to join me in the 'bail at £2.80 club'.

I think a bid for SL is quite likely in the next year or two, as they are just too small in the current world of mega-sized financial plcs. I also always had a nagging worry about more 'bad news' emerging from SL and hitting the price. (the effect of being one of their policyholders i think). Hence my decision to jump now. A bird in the hand and all that.

Good luck prob a good idea -- i still think £3.00 plus could be reached :d forever the optomist btw a free bottle of whisky at this link if anyone is interested http://www.laphroaig.com /friends/raf/miniatures.asp -- Cheers all

bugbod

Getting very tempted, but still hanging on.:)
Has anyone used Computershare? Can you tell them the least you will accept?