Quick thing. Lloyds ADRs seem to be up 35 and 45% this morning. Tickers are: LLD2, LLD5, LLD6
ADRs. Representing preference shares (6.75% and so on). Can’t find an acual quote for them tho’.
Why are they up 40%-ish? My assumption is they’re cumulative preference shares and that the payments have just resumed after some period of time. They cumulative part coming into play as they do so.
But would love to know the actual here. Someone might even pay me a quick $50 for writing it up if I can properly understand what has happened.
Probably just the results of last Thursday’s tender offer to redeem the ADRs in exchange for some long dated loan stock and/or cash. The consideration would include any unpaid accrued interest
Yep, that’s it, thank you. The ADRs represent those preference shares.
Journalism requires you to understand the story before you write it up? I don’t think you have got the hang of it yet.
That got my attention, because I have some Lloyd’s preference shares, LLPE.
Loads pf folk have these, because they were given to Halifax customers when Halifax demutualised and became part of Lloyd’s.
I had a quick look: they are non-cumulative and the price has not moved, as one might expect.
That might be worth a sentence in your write-up?
rhoda klapp said:
“Journalism requires you to understand the story before you write it up? I don’t think you have got the hang of it yet.”
That’s why he’s only thinking of $50. It would be $500 if he didn’t understand any of it but wrote about how it represented the evils of capitalism.
$5000 if he could link it to climate change/climate crisis/climate catastrophe/climate emergency/global warming/climate chaos*
*delete as applicable
You forgot Covid19