Broker comment (WestLB) this morning:
"We change our rating on Lloyds Banking Group (LBG) from Neutral to Add,
and set our target price at 105p (cum-rights). We have revised our estimates
following the announcement of the new restructuring plan, the rights issue
and the Q3 interim management statement (IMS) on 3 November. We have
now also taken into account the rights price of 37p announced this morning.
LBGs share price has underperformed the sector by c.20% since the end of
August. We believe that a significant layer of uncertainty has been removed
now that the rights price and the nature of the EC restructuring plan are
known. Nevertheless we acknowledge that certain risks remain, especially for
banks undergoing an EC restructuring plan, and in which the government
owns a significant stake. We therefore set our target price at a 10% discount
to the intrinsic value (IV). As the 105p target price is more than 10% above the
current share price, we change our rating from Neutral to Add."

ex rights sp will be around 62p at current 94p

i have lloyds shares will i be able to sell the right to the new shares , without actually buying them ?

If you don't take up your Rights, they (your allocation) will be sold on the open market on your behalf & you will receive any profit made (less charges).

it seems if the ex rights price is about 62p i dont have alot to gain in buying the rights. i may as well sell tomorrow at 94p and take my 75%+ gain for the last 6 months i have had the shares.

Imo, depends how long you are planning to be invested in LLOY.
If you are trading the stock, maybe best to take profit. If you are happy to buy more shares at 37p but see a dilution to your original holding & hold for better times, then that's another option.
62p is just a notional figure. What happens if the sp surges ahead? No easy answer to your question.

re - What happens if the sp surges ahead? No easy answer to your question.

From the FT.com .........
MARKET REPORT

Banks led the way lower, with Royal Bank of Scotland down 4 per cent to 36p and HSBC sliding 1.9 per cent to 737p.

But Lloyds Banking Group took on 2.6 per cent to 93p after pricing its 13.5bn rights issueat 37p, towards the top end of its indicative range.

Analysts saw potential further gains once Lloyds trades ex-rights on Friday, as index reweightings force tracker funds to buy.

Ummmm why if the tracker funds take up the rights issue would they need to buy more ???

Blimey dil your back...you been away with tabby??

Never been away Baler and besides tabby aint got enough room in his caravan to take me too :-)

I am selling my 2 birth caravan. it comes with orning and is in very good clean condition. all the facilities are working and they include gas oven large enough to get ones head in?

Today's broker update

Lloyds Banking upgraded to add from neutral at WestLB.



As usual moneyam chart and prices not up to date and time showing 94.11p and down when is 94.16p +0.35p
Blimey ! useless place

Market report Midday .........

It came as a surprise to many when the Supreme Court ruled against the Office of Fair Trading in the long running dispute over the fairness of bank's overdraft charges.

Lloyds continued to bask in the glory of its record rights issue, up a further 0.36p at 94.17p, while HSBC added 3.1p at 740.1p and Barclays gained 3.85p at 317.85p, however, Royal Bank of Scotland slipped 0.31p at 36p.

Don't wish to seem dull but when do we get the corporate action notice to buy in??

from wot i understand thursday /to markets on friday

Companies on the order-driven securities are mosly on Auction with Bid price the same as offer or higher..........


Message from the London Stock Exchange:

Due to ongoing technical difficulties, the Exchange has placed all order-driven securities in to an auction call period. The length of this period has not yet been decided and will be scheduled following resolution to the issue.

The market will be given sufficient notice of the scheduled uncrossing time.

All quote driven securities should be considered indicative at this time.

This is also effecting indices such as the FTSE100, 350 etc. .

little exposure to Doubai.
btw, they want more time/delay

The Company today held a General Meeting to vote on the resolutions set out in
the Notice of General Meeting contained in the Circular. All resolutions were
passed on a poll by a significant majority.

The results of the poll on each Resolution are set out below:

| Resolution | For (%) | Against (%) | Votes | Withheld* |

To approve the Share | 18,701,841,141 | 46,263,123 | 49,945,588 |
---------------------- (99.75%) shares -- (0.25%)

If you are still holding the shares by then, 2012 is Dividend time for LLOY shareholders


>>>>>Lloyds Chairman: Hopes To Start Paying Dividends In 2012

LONDON -(Dow Jones)- Lloyds Banking Group PLC (LYG) hopes to start paying dividends as soon as a European Union ban on the payments is lifted in 2012, Chairman Win Bischoff said Thursday.

He told Dow Jones Newswires the bank will look to make the payments as soon as it can. The EU called a halt to any dividends for two years as a condition of approving Lloyds' GBP17 billion government bail-out.

Bischoff's comments were made after shareholders earlier Thursday approved a GBP22.5 billion recapitalization that will allow the bank to avoid taking further state support.

What about tomorrow's opening price as the shares a moving into X-RIGHTS

Is looking that it should be about 59.05p and 59.15p

is a 1.34 shares for every 1 held at 37p

closing price 88.61p midle price and 88.83p UT