Lloyds Bank

[monabri]

I almost missed this article yesterday.

http://www.londonstockexchange.com/exch ... 28700.html

It's nice to know one of my HYP shares is in safe hands Well he was the deputy chairman of Baring Brothers International ( until they collapsed).

But, hey!, He's a good guy having donated £2.5m to the conservatives so it is only right and proper he gets this new job with Lloyds.

[Gengulphus]

Completely separate point about Lloyds, but you've reminded me that I'd been intending to keep an eye on the progress of the Government sale of its shares. So I've caught up on it, and it looks to have been pretty steady and to be nearing its end - the Government holding has gone:

Below 9% on 26 October (http://www.investegate.co.uk/lloyds-banking-group--lloy-/rns/holding-s--in-company/201610270700115646N/)
Below 8% on 21 November (http://www.investegate.co.uk/lloyds-banking-group--lloy-/rns/holding-s--in-company/201611220700127611P/)
Below 7% on 12 December (http://www.investegate.co.uk/lloyds-banking-group--lloy-/rns/holding-s--in-company/201612130700106281R/)
Below 6% on 6 January (http://www.investegate.co.uk/lloyds-banking-group--lloy-/rns/holding-s--in-company/201701090700095970T/)
Below 5% on 27 January (http://www.investegate.co.uk/lloyds-banking-group--lloy-/rns/holding-s--in-company/201701300700153875V/)
Below 4% on 22 February (http://www.investegate.co.uk/lloyds-banking-group--lloy-/rns/holding-s--in-company/201702230700126060X/)
Below 3% on 14 March (http://www.investegate.co.uk/lloyds-banking-group--lloy-/rns/holding-s--in-company/201703150700114781Z/)
Below 2% on 31 March (http://www.investegate.co.uk/lloyds-banking-group--lloy-/rns/holding-s--in-company/201704030700112631B/)
Below 1% on 27 April (http://www.investegate.co.uk/lloyds-banking-group--lloy-/rns/holding-s--in-company/201704280700126187D/)

That's a range of 17 to 27 days per 1% sold, averaging just under 23 days. So if they keep the rate up, they should finish the job in the second half of this month, and a major seller will disappear from the market. It will be interesting to see what happens then...

Incidentally, only the first seven of those announcements, down to and including the one about going below 3%, were obligatory under the rules about announcing shareholding levels. When they announced the last of those, they also said that they might well voluntarily announce going below 2%, going below 1% and reaching 0%. So it's not entirely certain that they'll announce reaching 0%, but as they've gone ahead with the other two, it seems very likely that they will.

Gengulphus

[peterh]

But, hey!, He's a good guy having donated £2.5m to the conservatives so it is only right and proper he gets this new job with Lloyds.

He was given a life peerage a couple of years ago as well, which must have been nice for him.

Another bit of trivia: he owns the property on Majorca used as a main location in the TV series 'The Night Manager'