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Preference Share Issuers

Gilts, bonds, and interest-bearing shares
Wizard
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Preference Share Issuers

#146994

Postby Wizard » June 20th, 2018, 8:56 pm

In his recent select committee appearance Andrew Bailey said he believed there were 15 or 16 issuers of preference shares, so I thought it would be useful to have a list of all of them. I have identified the following(for each issuer I have identified one listed pref share, clearly some have more than one).
Lloyds Bandking Group (LLPD)
Santander UK Plc (SAN)
Royal Bank of Scotland Group Plc (NWBD)
Bristol & West Plc (BWSA)
Standard Chartered Plc (STAB)
Aviva Plc (AV.A)
RSA Insurance Group Plc (RSAB)
Balfour Beatty Plc (BBYB)
Bristol Water Plc (BWRA)
Ecclesiastical Insurance Office Plc (ELLA)
Fuller, Smith and Turner Plc (53GW)
Mucklow Group Plc (37HR)
Northern Electric Plc (NTEA)
R.E.A. Holdings Plc (RE.B)
Tate & Lyle Plc (BD15)
Raven Property Group Limited (RAVP)

That is 16, is that then the full universe of companies that will have had a "Dear CEO" letter?

Terry.

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Re: Preference Share Issuers

#147002

Postby Alaric » June 20th, 2018, 9:32 pm

Wizard wrote:That is 16, is that then the full universe of companies that will have had a "Dear CEO" letter?


As observed elsewhere, they aren't all in the financial sector, so whether they count as regulatory capital after 2026 isn't relevant to all of them.

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Re: Preference Share Issuers

#147008

Postby Wizard » June 20th, 2018, 9:52 pm

Alaric wrote:
Wizard wrote:That is 16, is that then the full universe of companies that will have had a "Dear CEO" letter?


As observed elsewhere, they aren't all in the financial sector, so whether they count as regulatory capital after 2026 isn't relevant to all of them.

Was the letter specifically sent only to companies with regulatory capital? I thought it was to any issuer of preference shares.

Terry.

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Re: Preference Share Issuers

#147012

Postby Alaric » June 20th, 2018, 10:11 pm

Wizard wrote:Was the letter specifically sent only to companies with regulatory capital? I thought it was to any issuer of preference shares.


I assume it went to all companies. Earlier in the debate the FCA seemed under the misconception that the issue involved regulatory capital. It does, but it goes wider.

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Re: Preference Share Issuers

#147745

Postby ChrisNix » June 24th, 2018, 7:23 pm

I think you'll find that there are around 40 issuers, but most of the issue sizes are small, so wouldn't surprise if FCA did not see fit to chase.

Chris

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Re: Preference Share Issuers

#147772

Postby Wizard » June 24th, 2018, 9:04 pm

ChrisNix wrote:I think you'll find that there are around 40 issuers, but most of the issue sizes are small, so wouldn't surprise if FCA did not see fit to chase.

Chris

Chris

Would be grateful if you could point me to a few of the other issuers of preference shares.

Thanks in advance,
Terry.

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Re: Preference Share Issuers

#147789

Postby ChrisNix » June 24th, 2018, 10:32 pm

ANTOFAGASTA
BALFOUR BEATTY
BOOT(HENRY)
BP
BRISTOL WATER
BRUNNER INVESTMENT TRUST
CAFFYNS
CHEMRING GROUP
CITY OF LONDON INVESTMENT TRUST
COBHAM
CRODA INTERNATIONAL PLC
ECCLESIASTICAL INSURANCE OFFICE
FULLER SMITH & TURNER
GARTMORE GLOBAL TRUST
INVESTEC INVESTMENT TRUST(GB)
KEYSTONE INVESTMENT TRUST
LEWIS(JOHN)PARTNERSHIP
LONDON & ST LAWRENCE INVESTMENT
LOW & BONAR PLC
MARSTON'S PLC
MENZIES(JOHN)
MERCHANTS TRUST
MORGAN CRUCIBLE CO
MUCKLOW(A.& J.)GROUP
NORTHERN ELECTRIC
NORTHGATE PLC
R.E.A.HLDGS PLC
RENOLD
ROTORK
TATE & LYLE
VOLEX GROUP
WITAN INVESTMENT TRUST

Wizard
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Re: Preference Share Issuers

#147982

Postby Wizard » June 25th, 2018, 7:47 pm

ChrisNix wrote:ANTOFAGASTA
BALFOUR BEATTY
BOOT(HENRY)
BP
BRISTOL WATER
BRUNNER INVESTMENT TRUST
CAFFYNS
CHEMRING GROUP
CITY OF LONDON INVESTMENT TRUST
COBHAM
CRODA INTERNATIONAL PLC
ECCLESIASTICAL INSURANCE OFFICE
FULLER SMITH & TURNER
GARTMORE GLOBAL TRUST
INVESTEC INVESTMENT TRUST(GB)
KEYSTONE INVESTMENT TRUST
LEWIS(JOHN)PARTNERSHIP
LONDON & ST LAWRENCE INVESTMENT
LOW & BONAR PLC
MARSTON'S PLC
MENZIES(JOHN)
MERCHANTS TRUST
MORGAN CRUCIBLE CO
MUCKLOW(A.& J.)GROUP
NORTHERN ELECTRIC
NORTHGATE PLC
R.E.A.HLDGS PLC
RENOLD
ROTORK
TATE & LYLE
VOLEX GROUP
WITAN INVESTMENT TRUST

Many thanks Chris, when I looked on the LSE it seemed to show no info for many of the ones you identify. I guess maybe they don't ever trade and that may be the reason, whereas I had assumed that they had been repurchased and were no lknger in existence.

Terry.

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Re: Preference Share Issuers

#147984

Postby ChrisNix » June 25th, 2018, 7:53 pm

Wizard wrote:Many thanks Chris, when I looked on the LSE it seemed to show no info for many of the ones you identify. I guess maybe they don't ever trade and that may be the reason, whereas I had assumed that they had been repurchased and were no longer in existence.

Terry.


Terry,

I've found the LSE site can sometimes be a bit temperamental. The hardest thing is getting the right code. You could try the Hargreaves Lansdown site.

Chris


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