Das hat sich wohl ausgerockt ?
aber 6 Aktien zu 0,25 ergeben 1,50 oder nicht meine Aktie die ich besitze ist ja auch noch 0,25 wert, trotzdem darf der Kurs nicht dann bei 0,25 stehen wenn er nämlich da steht bin ich doch vom aktuellen Kurs um 70 pence im Minus,dass nur die welche für 0,25 bekommen die welche haben habe ich schon verstanden wenn dem so it darf der Kurs bzw. muss der Kurs über 0,25 nach Zuteilung stehen also beo 0,36 pence +- null vom aktuellen Kurswert falsch oder richtig,oder sehe ich hier noch immer etwas falsch?
AS MANY as 2400 jobs could be cut from Northern Rock over the next three years, the troubled bank's managers said, as they outlined their plan to rescue the Rock.
Paul Thompson, who, as leader of the management buyout team, is going head-to-head with Sir Richard Branson for control of the Newcastle-based bank, refused to rule out redundancies.
Mr Thompson’s comments came as the Virgin-led consortium denied reports that it planned to lose 1000 of the Rock’s 6250 staff. Virgin and the existing management team submitted offers for the bank to the Treasury this week.
The management team has begun publicising its bid, and immediately received a boost from Northern Rock’s two biggest shareholders, SRM Global and RAB Capital, which increased their stakes. RAB Capital, the hedge fund manager, bought an additional 450,000 shares, taking its stake to almost 8 per cent, and reiterated its support for Mr Thompson’s bid.
The 45-year-old career banker, who is best known for turning around Britannic, the insurer, and for running Resolution, the closed life consolidator, said that he expected 10 per cent to 15 per cent of the Rock’s staff to leave voluntarily every year.
“We’ll try to manage it by moving people from sales to the positions left open by natural attrition,” he said, “but it would be wrong to commit to no compulsory redundancies.”
To avoid breaching European state aid rules, the winning bidder must downsize the Rock over three years while it repays £25 billion ($55 billion) to £30 billion of government-guaranteed bonds. Mr Thompson said that he would offer uncompetitive rates to customers coming to an end of their mortgage’s fixed term and then direct them back to their broker so that they could re-mortgage with another provider.
“It’s very sad. You work so hard to build the customer base and yet we’re going to have to actively reduce it,” he said. However, Mr Thompson predicted that the management team could build the Rock’s deposit base to about £20 billion within three years. It had been as high as £26 billion but a run on the bank last September hugely reduced deposits, leaving only £10 billion in the Rock’s coffers.
The management team hopes to sell between £2 billion and £3 billion in mortgages every year, compared with almost £16 billion in the first half of 2007, before the Rock was hit by the collapse of the credit markets.
Mr Thompson said: “I’m a growth-orientated person at heart. I turned Britannic from a £300 million company into a £4 billion company, via the merger with Resolution, in 4½ years. We went from less than one million customers to seven million customers in the same period.”
Olivant, a private equity consortium, dropped out of the takeover battle on Monday, complaining that the three-year deadline to repay the government bonds meant that it could not achieve sufficient returns.
Mr Thompson dismissed criticism of the time limit, which he said had been communicated to bidders by the Treasury early in the auction. He declined to reveal how much the management team would pay the Treasury for its bond guarantee, what coupon it would offer on the bonds or what stake the Government might take in the bank going forward.
The Virgin consortium plans to inject £500 million in equity and raise £500 million in a rights issue at 25p per share, in return for 55 per cent of the Rock - a suggestion that has infuriated shareholders. The management team’s rights issue, on which Mr Thompson said that he had written commitments for at least £500 million, will not dilute existing shareholders’ investments.
Mr Thompson revealed plans to beef up the Rock’s executive line-up with a new finance director and chairman, and committed himself to at least four years at the bank.
He said: “It plays to my strengths. It’s not dissimilar to the turnaround at Britannic. I know banking. I was born and brought up in Yorkshire. And it needs doing, for the good of the City and our position as the financial centre of Europe. We can’t have one of our banks being nationalised.”
The Times
UK govt to incorporate Northern Rock, BoE into public accounts UPDATE
Maritim Invest XIV
Sicherheit und Rendite! Ca. 150 Schiffsbeteiligungen in einem Fonds - nahezu steuerfrei. Infos hier!15% mit Private Equity
STAR Private Equity VI Asia Pacific: Jetzt in den dynamischsten Wirtschaftsraum investieren!Private Equity boomt!
16% p.a. seit 50 Jahren! 7% Sofortrente! Hohe Renditen bei breiter Risikostreuung!(Adds detail on Northern Rock (News) securitisation programme)
LONDON (Thomson Financial) - Struggling bank Northern Rock and the Bank of England are to be incorporated into the public accounts for statistical purposes, the office for National Statistics said.
The move could have a major impact on the UK's public finances but the exact figure is not yet known -- and the impact will not be seen before March's data at the very earliest, the ONS said.
'The exact impact of Northern Rock PLC's inclusion in public sector net debt cannot be stated at this time,' the office said, noting it was not possible to collect the necessary information from Northern Rock before the announcement.
However the ONS did say the public accounts will include Northern Rock's UK-resident special purpose vehicles, used for its borrowing programme involving securitised mortgage assets.
Information already in the public domain suggests these could be valued at something in the magnitude of 50 bln stg, the office said.
The change in classification, which the ONS stressed should not be confused with nationalisation, reflects the fact that the public sector now 'has the power to control Northern Rock PLC's general corporate policy,' the statistics office said.
This is because Northern Rock's emergency loans from the Bank of England, estimated to be above 20 bln stg, mean it needs BoE approval to make make certain decisions -- such as corporate restructuring or dividend payments.
The BoE will also be included in the public accounts from the same date -- and on a permanent basis -- because it would be 'misleading' not to do so at the same time as Northern Rock.
The ONS noted that the BoE is currently the only public sector entity not to be included in the national accounts, historically because its financial impact would have been relatively small. The Northern Rock loans mean this is no longer the case.
alex.brittain@thomson.com
abr/cp/tfn-loc
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Klicken Sie hier, um weitere aktuelle Nachrichten zum Unternehmen zu finden:
NORTHERN ROCK
die haben Ihn ausgelacht, hätte die von ebay mal ein bißchen nachgedacht wäre die in China aufgestellt,alibaba könnte echt heiiss werden wußte gar nicht das die an der Börse sind wo ist denn dein einstiegskurs?
auch wenn dies nichts mit northern zu tun hat
By Tim Barwell
Feb. 11 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in the U.K. and Irish markets. Stock symbols are in parentheses after company names, and prices are from the last close.
The FTSE 100 Index rose 59.9, or 1.1 percent, to 5,784. The FTSE All-Share Index added 1 percent to 2,956.6 and Ireland's ISEQ Index gained 1.3 percent to 6,537.91.
U.K. Companies:
Diageo Plc (DGE LN): The world's biggest liquor maker sold 4 percent less Guinness stout in Ireland in 2007 than in 2006, the Sunday Independent reported, citing data from research company AC Nielsen. The shares advanced 8 pence, or 0.8 percent, to 1021.
Fidessa Group Plc (FDSA LN): The U.K. supplier of financial software is reporting results. The stock rose 34.5 pence, or 4.8 percent, to 750.
FKI Plc (FKI LN): Blackstone Group LP, the U.S. private- equity firm, is considering a new bid for FKI, the Independent reported without saying where it got the information. The shares slid 0.75 pence, or 1.2 percent, to 64.75.
Friends Provident Plc (FP/ LN): The U.K. life insurer rejected the latest approach by U.S. buyout firm J.C. Flowers & Co. to buy all or part of the company because it was too vague, the Sunday Times reported. The shares lost 0.4 pence, or 0.3 percent, to 131.2.
GCap Media Plc (GCAP LN): Chief Executive Officer Fru Hazlitt will try to convince shareholders that a plan to overhaul the company is superior to a takeover by Global Radio Holdings Ltd. the Financial Times reported, citing analysts. The shares slipped 0.75 pence, or 0.4 percent, to 189.75.
HSBC Holdings Plc (HSBA LN): Europe's largest bank is trying to sell about half its 800-strong French branch network to meet demands from a ``rebel'' investor, the Sunday Telegraph reported, without saying where it got the information. The shares rose 6.5 pence, or 0.9 percent, to 737.
Mitchells & Butlers Plc (MAB LN): Trevor Hemmings, a leisure entrepreneur, bought a 3 percent stake in Mitchells & Butlers, which is the target of a 2 billion pound ($4 billion) takeover bid from Punch Taverns Plc, the Financial Times reported.
Separately, the pub owner is considering asset swaps and property sales after a 275 million-pound ($535 million) loss on interest-rate and inflation hedges, the Sunday Telegraph reported. The stock climbed 4.75 pence, or 1.1 percent, to 451.75.
Northern Rock Plc (NRK LN): Investors including Legal & General Group Plc, RAB Capital Plc and SRM Advisers are growing concerned about terms of the Virgin Group Ltd.-led bid for the bank, the Sunday Times reported.
Separately, The Royal Bank of Scotland Group Plc, Barclays Plc and Citigroup Inc. offered to securitize half of the Bank of England's emergency loan to Northern Rock, the Sunday Telegraph reported, citing sources it didn't identify.
Also, Northern Rock's management has decided to raise the amount of equity in its proposed buyout of the bank to 700 million pounds ($1.36 billion) the Daily Mail newspaper reported, without saying where it got the information.
The shares dropped 4 pence, or 3.9 percent, to 98.
Pennon Group Plc (PNN LN): The water supplier to 1.6 million people in southwest England is releasing a trading update. The shares dropped 5 pence, or 0.8 percent, to 659.
Prudential Plc (PRU LN): Mark Wood, chief executive officer of U.K. insurer Paternoster Ltd., may have been approached by investment banks considering plans to break up Prudential, the Daily Telegraph reported, citing people familiar with the matter. The shares advanced 15 pence, or 2.5 percent, to 606.
Rio Tinto Plc (RIO LN): Rio Tinto Ltd. Chairman Paul Skinner said shareholders should take no action on an unsolicited takeover bid by Melbourne-based BHP Billiton Ltd., which would create the world's biggest producer of copper. The shares added 110 pence, or 2.1 percent, to 5332.
Silverjet Plc (SIL LN): David and Simon Reuben are abandoning plans to convert a loan into an equity stake in Silverjet, the business-class-only airline that started flights in January, the Financial Times said, without attribution. The shares dropped 1.5 pence, or 5.9 percent, to 24.
Smiths Group Plc (SMIN LN): The world's biggest maker of airport-security scanners is releasing a trading update. The stock lost 12 pence, or 1.3 percent, to 947.5.
St. Modwen Properties Plc (SMP LN): The U.K. company that regenerates town centers and industrial areas is reporting earnings. The shares advanced 10.5 pence, or 2.2 percent, to 482.25.
Standard Chartered Plc (STAN LN): Temasek Holdings Pte, Singapore's state investment agency, plans to raise its stake in Standard Chartered, the Observer said. The shares added 18 pence, or 1.2 percent, to 1567.
Workspace Group Plc (WKP LN): The landlord to more than 4,000 small companies in southeast England is reporting earnings. The shares climbed 8.5 pence, or 3.2 percent, to 275.5.
Irish Companies:
Iona Technologies Plc (ITP ID): Software AG, Germany's second-largest software maker, made a preliminary takeover approach for Ireland's Iona Technologies, the Sunday Times reported, without citing anyone. The shares surged 37 cents, or 18.5 percent, to 2.37 euros.
Irish Life & Permanent Plc (IPM ID): Merrill Lynch & Co. may exit its Irish subprime joint venture with Irish Life & Permanent, Ireland's largest life insurer, the Sunday Independent reported, without saying where it got the information. The shares retreated 15 cents, or 1.4 percent, to 10.30 euros.
Greencore Group Plc (GNC ID): Exista hf, which owns Icelandic food supplier Bakkavor Group hf, bought over 8 percent of Greencore Group, the world's biggest maker of prepared sandwiches, the Irish Independent reported, without citing anyone. The stock surged 27 cents, or 7.2 percent, to 4 euros.
To contact the reporter on this story: Tim Barwell in London tbarwell@bloomberg.net
Last Updated: February 10, 2008 22:03 EST
12.02.2008 13:25
SRM Global Master Fund buys further 116,000 Northern Rock shares at 96.06p/share
LONDON (Thomson Financial) - SRM Global Master Fund Ltd Partners said it now holds 10.79 pct stake in the beleaguered UK mortgage bank Northern Rock PLC (News) after it bought 116,000 shares in the company at 96.06 pence per share.
SRM's stake now represents 45.46 mln shares.
On Feb 6, SRM had raised its interest in the stricken mortgage bank to 10.77 pct or 45.34 mln shares after buying 2.15 mln shares at 92.04 pence apiece.
TFN.newsdesk@thomson.com
ukn/rfw
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Klicken Sie hier, um weitere aktuelle Nachrichten zum Unternehmen zu finden:
NORTHERN ROCK
SRM Global Master Fund stockt Anteil an Northern Rock weiter auf
12.02 14:15
LONDON (AWP International) - Der SRM Global Master Fund hat seinen Anteil an der schwer angeschlagenen britischen Hypothekenbank Northern Rock weiter aufgestockt. Das Unternehmen habe 116.000 weitere Aktien erworben, teilte der Hedge-Fonds am Dienstag in London mit. Damit hält der Investor nun insgesamt 45,46 Millionen Anteile oder rund 11 Prozent an dem Institut.
Derzeit entscheidet sich die Zukunft von Northern Rock. Nach Medienberichten liegen mehrere konkurrierende Angebote vor. Offiziell ist die Offerte der britischen Virgin-Gruppe um den Milliardär Richard Branson. Er will die Bank gemeinsam mit Partnern mit frischem Kapital versorgen und unter der eigenen Marke "Virgin Bank" weiterführen. Dagegen hatte sich SRM jedoch gesperrt, weil es Northern Rock vom Virgin-Angebot unterbewertet sieht.
Die Hypothekenbank war durch die Subprime-Krise in eine existenzbedrohende Lage geraten und konnte nur durch das Eingreifen des Staates gerettet werden. Dieser prüft nun die vorliegenden Angebote. Auch eine Verstaatlichung steht im Raum./FX/das/ne/wiz
Artikel drucken
LONDON (AWP International) - Das britische Finanzministerium hält laut einem Pressebericht die bisherigen Angebote für die schwer angeschlagene Hypothekenbank Northern Rock für zu niedrig. Die Behörde verlange von der Virgin Group des Milliardärs Richard Branson und dem Northern-Rock-Management eine Nachbesserung ihrer jeweiligen Offerten, berichtete die "Financial Times" (Onlineausgabe) am Mittwoch. Auch eine Verstaatlichung steht dem Bericht zufolge weiterhin als Option im Raum.
Derzeit entscheidet sich die Zukunft von Northern Rock. Medienberichten zufolge liegen mehrere konkurrierende Angebote vor. Offiziell ist die Offerte der britischen Virgin Group. Deren Eigentümer Branson will die Bank gemeinsam mit Partnern mit frischem Kapital in Höhe von 1,25 Milliarden britischen Pfund (1,68 Mrd Euro) versorgen und unter der eigenen Marke "Virgin Bank" weiterführen. Das Management der Bank wiederum will Northern Rock als unabhängiges Institut erhalten. Sein Rettungsplan sieht eine Kapitalerhöhung im Umfang von 500 Millionen Pfund vor. Zudem soll sich die Bank von einigen Geschäften trennen
15.02.2008 09:58
UK govt wants 200 mln stg from Virgin if Northern Rock rescue succeeds UPDATE
(Adds Times report on shareholder opposition to Virgin bid)
LONDON (Thomson Financial) - The UK government wants Virgin Group to pay it up to 200 mln stg if the bidder succeeded in turning round Northern Rock (News) within three years, the Financial Times reported without citing sources.
The paper said ministers are pushing for a better deal for the taxpayer from Virgin's bid, after an offer from Northern Rock's management team fell short of government expectations.
The government will demand warrants over any upside in the stricken mortgage bank, the FT said, and it is thought to be pushing for the taxpayer to receive between 100-200 mln stg if Northern Rock was revived within three years.
The newspaper also said that Northern Rock's largest shareholder, the hedge fund SRM, will today submit a paper to the Treasury arguing that the European state aid regime should not have applied to Northern Rock.
The submitted paper is understood to say that the government is acting as a shadow director of the bank, which would open the way for potential legal action from shareholders, the FT said.
Elsewhere, the Times newspaper reported that SRM and Northern Rock's other leading shareholder, RAB Capital, will oppose the Virgin bid when it comes to a shareholder vote.
The paper quoted a source close to one of the leading shareholders as saying: 'If it were a two-way competition between Virgin and nationalisation, we would vote for nationalisation.'
Meanwhile, the Guardian reported that crisis talks between the government and bidders for Northern Rock will be held this weekend, with a decision over the fate of the bank expected early next week.
Insiders said an announcement will be made following a Northern Rock board meeting, a briefing from the government's advisors Goldman Sachs, and discussions between the Treasury and officials at Number 10, the Guardian reported.
Nationalisation for Northern Rock looks to be a step closer, the paper said, due to the government's tough stance and the fact the Treasury has told Northern Rock's in-house management team that it lacks the firepower to mount a takeover.
paul.sandle@thomson.com
ps/lam/abr/ajb/abr/nes
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Klicken Sie hier, um weitere aktuelle Nachrichten zum Unternehmen zu finden:
Lawyers for hedge fund SRM Global, the biggest shareholder in Northern Rock, on Friday delivered a report to the government saying the Treasury needed to reassess the criteria it used for rescue proposals, as it had wrongly applied the rules of the European State Aid regime to its emergency funding. For details click on ID:nL14425657.
The legal move is seen as an attempt to pull the government back from the brink of choosing a consortium led by billionaire Richard Branson's Virgin Group VA.UL to rescue the bank.
A rival "in-house" proposal led by the bank's management team is less dilutive for existing shareholders and is supported by SRM.
The Treasury has called on both suitors to improve their proposals, including offering the government more money for the guarantee it is providing on the 26 billion pounds ($51.2 billion) borrowed by the bank. The guarantee will allow the loan to be turned into bonds that can be sold to investors.
The government wants up to 200 million pounds from Virgin if it turns round the bank within three years, Friday's Financial Times reported. The Treasury declined to comment.
Revised offers are due to be submitted on Saturday, according to people familiar with the situation, so the Treasury could make a decision early next week.
Northern Rock's second biggest investor, RAB Capital (RAB.L: Quote, Profile, Research), is also against the Virgin proposal. RAB and SRM have topped up their holdings this week and combined they now own almost 20 percent of the shares, almost enough to block the proposal, which requires 75 percent investor approval.
The high-profile battle for Northern Rock, which became Britain's biggest casualty of the global credit crunch when it was forced to seek emergency funding in mid-September, is becoming increasingly political. Continued...