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Bradford and Bingley shares...

124

Comments

  • cottager
    cottager Posts: 934 Forumite
    If all else fails you might be able to sell the share certificate: look up Scripophily on Google. A growing interest and market, though it will be the older/rarer ones which have more value. The B&B certificate could be worth less than one of the shares it represented: but keep it for 25 yrs and who knows! :)
    ~cottager
  • padders72
    padders72 Posts: 9 Forumite
    edited 18 February 2010 at 7:20PM
    I would like to suggest that a lot of the dismissive comments on here do not come with any great understanding of the circumstances of the B and B nationalisation which was unlike that of Northern Rock. There is a very real case that B and B were solvent when nationalised and were actually driven to it by a panicking government who would not let them use the BOE emergency funding unlike LLoyds etc who were allowed to do just that just weeks later. The government changed the law to make such shameless snatch and grab raids legal from 2009 onwards unfortunately for them it wasn't legal in 2008 and they will most likely be found liable for compensation IMO. The closing value of 20p seems rather likely to me to be near the figure Peter Clokey, the valuer will come up with. Keep your cert though they will pay out on the share register anyhow, so the cert is probably not necessary tbh.

    While there are no opportunities to jump onto the B and B ordinarys as they are frozen, the prefs and bonds have continued to trade and many have doubled in value over the last 2 months on speculation that they too will be reinstated as a result of the valuers decision.

    ps the valuer may have been appointed by the government but he is independent and works for PWC ie he is not a civil servant so there is a fair chance that he could come to an impartial decision, unless he fancies a swift knighthood of course.
  • jimbo5661
    jimbo5661 Posts: 67 Forumite
    20p per share would be lovely!
  • Masomnia
    Masomnia Posts: 19,506 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    jimbo5661 wrote: »
    20p per share would be lovely!

    I'd be over the moon... but I can't see it happening!
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
  • jimbo5661
    jimbo5661 Posts: 67 Forumite
    Me neither, but who knows. I think Padders72 raises some valid points and agree that there's been a lot of negative / dismissive views posted by some... (or have they just been realisitc and NOT what i've wanted to hear:))

    If the government doesn't like the outcome of the valuation can / will they appeal? if so, how long will that drag out proceedings? Likewise if it is a 'Big Duck Egg' as previously quoted are there channels to appeal from interested shareholder groups?

    Thanks!
  • Masomnia
    Masomnia Posts: 19,506 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    As far as I know there will be a provisional decision in June and then interested parties can appeal the decision. Other than that I doubt anyone knows.

    It doesn't look good that Northern Rock's provisional decision is that there was no value, but we shall have to see.

    I bought them as a punt, and as it turned out it didn't pay off, so I'm not going to complain either way!
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
  • jimbo5661
    jimbo5661 Posts: 67 Forumite
    Not long to go now until a decision. Anyone got any 'insider' knowledge of the decision?!
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    I think they borrowed more money then the liquid assets of the company. The savers section was sold for 600m to aid servicing of the mortgage debt which is held by government. Any interest due on that debt will be paid by all uk banks and any eventual profit also taken for administration costs of that scheme I should think
  • jimbo5661
    jimbo5661 Posts: 67 Forumite
    I have a few predictions... The share price will be set by Clokey at £1 per share. Emile Heskey will be top scorer at the World Cup and there will be and end to human suffering and world peace by xmas!
  • jimbo5661
    jimbo5661 Posts: 67 Forumite
    Come on Clokey put us out of our misery!!
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