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TSB shares and X-O

inversions
Posts: 55 Forumite

I bought 2k's worth of TSB shares through X-O when it IPO'd and when the letter from X-O came through about the take over and the buy back offer (or whatever it's called) I had a quick look on here and it seemed most people thought it a good idea to sell. I had planned on holding them to get the 5% bonus.
So I agreed to sell and sent the form back to X-O. Does anyone know when this is actually going to happen? In my X-O account it just shows as a red exclamation mark and £0.00 next to my portfolio valuation in account summary.
Does anyone know what's going on with this?
So I agreed to sell and sent the form back to X-O. Does anyone know when this is actually going to happen? In my X-O account it just shows as a red exclamation mark and £0.00 next to my portfolio valuation in account summary.
Does anyone know what's going on with this?
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Comments
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I believe the money will be paid to you sometime in July (up to 22nd July). 340p per share. If you accepted the offer you will still get the bonus of lloyds banking shares but I believe they will be added as cash to the principle.0
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17th July for settlement apparently.0
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The offer document from Sabadell states:
'Subject to the Offer becoming or being declared unconditional in all respects, settlement for those TSB Shareholders who have validly accepted the Offer will be effected within 14 calendar days of the Offer becoming or being declared unconditional in all respects.'
With the offer being declared unconditional on 30th June, the settlement date should be 14th July.
(www.tsb.co.uk/investors/sabadell-offer-information/offer-document.pdf)
Lloyds should be paying the bonus (in cash) on 17th July according to their announcement:
'In March 2015, with the support of the TSB Board, the [Lloyds Banking] Group announced it would pay any investors entitled to receive Bonus Shares the cash value of those Bonus Shares at the offer price. Such investors are expected to receive their cash entitlements on or around 17 July 2015.'
(www.lloydsbankinggroup.com/globalassets/documents/investors/2015/2015jun30_tsb_sale.pdf)0
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