pseudonym

re - It has no connection with the closing price.

Lets see the price it closes and the price of Monday rump and then you can say more.

Just to let you know the last time the share close at 60p and next day the rump was sold to INSTITUTIONS at 60p.

I will rest my case on this matter for the moment being.

UT at 56.22p
closing spread price 56.30 / 56.39p

Does anyone think this stock will be worth 3 in a few years...or are we witnessing a slow decline into the land of sp manipulation, dilution and "placing" to reward City-types....?

- Er, I wonder.

I agree with master RSI........check this out....

Lloyds' shareholders turn a quick profit
Philip Scott, This is Money
12 December 2009
Reader comments (2) | Chat
The record breaking Lloyds rights issue closed yesterday with the average shareholder making an instant paper profit of some 190 on their stake.




Rights issue: Did you take yours?

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Those who bought shares at 37p saw them close at 56.22p on Friday - 52% higher than the offer price.
And some investors proved that doing nothing can sometimes be a good option, with the average shareholder who failed to send back forms now in line for a cheque for about 190. The bank was offering existing shareholders the opportunity to buy 1.34 shares at a price of 37p for every share they hold.

The typical private Lloyds shareholder owns 740 shares and when the market closed on Friday, the bank's share price finished the day 3% down and flat over the week.

The new shares will start being traded on the market on Monday, 14 December.

Shareholders had the option to either take up all their rights, take up some of their rights - a process dubbed tail swallowing or let them lapse.

Those choose to do the latter, will have the extra shares available to them sold and be sent a cheque in the post. They will have seen their stake in the bank heavily diluted though.

The cash payment will pay the value of the rights, which will be the difference between the rights issue price of 37p and what Lloyds can sell the shares for on the market. This is known as the nil paid rights price.

Ultimately, how much they get for the shares though will be determined by the Lloyds' share price on Monday, when the markets open, although, barring any disasters, the price should be similar to Friday's closing.

The average private Lloyds shareholder who took up their rights, based on the offer price of 37p for 1.34 shares, would have paid some 366.67 to maintain their stake by scooping up 991 shares.

The 43% taxpayer supported bank decided to go cap in hand to its shareholders so that it could dodge the Government's Asset Protection Scheme (APS), the insurance plan for banks' toxic assets.

If Lloyds had partaken in the Government's plan, it would have paid 15.6bn to insure 260bn in loans under the scheme, which would have in turn upped the taxpayer's stake to some 62%.

lol gf ... how many of those shareholders bought their original shares at 3,4,5 & 6 quid ????

Bet they are sooooo happy with their 190 "profit" on the rights issue.

Another one auguring well for Monday

Lloyds investors expected to take up more than 90% of share issue
From the FT.com -- December 12 2009

Investors in Lloyds Banking Group are expected to have subscribed to or sold the rights to more than 90 per cent of the new shares issued through the bank's 13.5bn rights issue.

The share issue was launched two weeks ago and investors had until yesterday morning to trade their rights to buy the new shares in the market.

Someone close to the bank estimated that about 12.5bn of the 13.5bn of the new shares would be taken up, leaving a "rump" of about 1bn. The final overhang will not be known until the bank's registrars have conducted a formal count of the take up of the new shares this weekend.

In Lloyds' fundraising in June this year, some 13 per cent of the issue was not taken up by investors.

The registrar will announce the number of remaining shares on Monday. These will then be placed in the market by the underwriters on the rights issue, led by UBS and Bank of America Merrill Lynch.

The bank had expected strong demand for its rights issue, the largest fundraising yet to be launched. The rights to buy the new shares - or "nil-paid rights" - were trading at about 20p before the 11am deadline yesterday morning, compared with their issue price of 37p.

The rights issue is part of Lloyds' plan to raise 22.5bn to strengthen its balance sheet and allow it to escape the government's asset protection scheme. More than 99 per cent of the bank's shareholders voted in favour of the fundraising at the end of last month. The bank is also raising 9bn through a debt swap.

Investors were offered 1.34 new shares for each existing one they own at a price of 37p a share. This worked out at a 39 per cent discount to the so-called theoretical ex-rights price, which takes into account the dilutive effect of the issue on the bank's overall market capitalisation.

Shareholders who have not taken up their rights will have their entitlements sold by the bank on their behalf. Lloyds' shares fell 3.4 per cent, or 2p, to 56.2p yesterday

goldfinger

Do not take any notice of the " SHEEP SHAGGER " everything is wrong on his live something like "LEPROSY" also being attached to this thread.

How fools can believe its own Sh!t is not my cup of tea, shares are for trading and that is the way one makes money.

Sell when the economy growth negative

Buy, once the economy is recovering and double the buy when moving forward with growth

From Mail online

Lloyds rights issue sees more than 90% take-up - 12th December 2009

Lloyds Banking Group will tomorrow (Monday) claim success for its 13.5 billion cash call, with figures expected to show that more than 90 per cent of shares have been taken up.

That scale of buying from existing shareholders would compare well with the bank's cash-raising earlier this year, in which 13 per cent of the shares were left unsold and had to be placed on the market in a rump sell-off.

Bankers are confident that any rump of shares after this rights issue will be placed by the end of trading tomorrow.

Shares in Lloyds closed last week at 56p. Once adjusted for the effect of the new shares in issue and cash raised, this price is almost unchanged on their level immediately before the rights issue was announced.

The Government, which owns 43 per cent of Lloyds after last year's banking bailouts, has taken up its rights to new Lloyds shares in full and most City institutions are expected to have followed suit. But many small investors, burnt by the crash in value of shares in Lloyds and its HBOS subsidiary over the past two years, are thought to have ignored the rights offer or taken up only part of their entitlement.

Analysts have welcomed the apparent success of the cash call. Ian Gordon, banking analyst at broker Exane BNP, said: 'The pain and suffering of Lloyds shareholders could soon be over.'

A strong take-up will be particularly welcome for chief executive Eric Daniels, who has faced criticism for his decision to buy HBOS late last year, a move that has lumbered the group with billions of pounds of losses.

The issue, which closed at 11am on Friday, aimed to raise 13.5 billion by issuing about 36 billion new shares at 37p a share.

It was announced last month alongside an offer to exchange some debts for a new type of investment called contingent capital, or 'CoCos', which will convert to shares if the bank hits a fresh financial crisis. The extra capital has enabled Lloyds to remain outside the Government's insurance scheme for toxic assets, known as the Asset Protection Scheme.

Had Lloyds been forced to join this it would have had to issue the Government with extra shares, giving the Treasury majority ownership. As it is, the Treasury stake will remain at 43 per cent.

Royal Bank of Scotland, which is putting hundreds of billions of assets into the APS, will end up 84 per cent State-owned as a result.

STRONG SUPPORT FOR THE RIGHTS ISSUE



TIDMLLOY

RNS Number : 0435E
Lloyds Banking Group PLC
14 December 2009



121/09
14 December 2009
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, HONG KONG, ISRAEL, JAPAN,
THAILAND OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION.
LLOYDS BANKING GROUP PLC ANNOUNCES STRONG SUPPORT FOR THE RIGHTS ISSUE
Unless otherwise defined in this announcement, capitalised definitions shall
have the same meaning as in the rights issue prospectus (the "Prospectus")
published on 3 November 2009 by Lloyds Banking Group plc (the "Company" or
"Lloyds Banking Group") in connection with the Rights Issue.
Following the closing of the Rights Issue offer period on 11 December 2009,
Lloyds Banking Group announces that it has received valid acceptances in respect
of 34,794,322,592 New Shares representing approximately 95.314 per cent. of the
total number of New Shares to be issued pursuant to the Rights Issue announced
by the Company on 3 November 2009.
Commenting on the results of the Rights Issue, Eric Daniels, Group Chief
Executive, said:
"I would like to thank our shareholders for their considerable support for our
capital raising programme. Our focus remains on delivering on our plans to
become the UK's leading financial services company, which we believe will result
in significant benefits for all our shareholders."
It is expected that the New Shares in uncertificated form will be credited to
CREST accounts on 14 December 2009 and that definitive share certificates will
be dispatched to shareholders by no later than 29 December 2009.
It is expected that the New Shares will commence trading fully paid on London
Stock Exchange plc's main market for listed securities on 14 December 2009.
As disclosed in the Prospectus, BofA Merrill Lynch, UBS Limited and Citigroup
Global Markets U.K. Equity Limited, acting as joint global co-ordinators, will
use reasonable endeavours to procure subscribers for the balance of New Shares
for which valid acceptances were not received. A further announcement as to the
number of New Shares for which subscribers have been procured will be made in
due course.




- END -

Lloyds Banking Group Gets 95.314% Rights Issue Takeup

LONDON -(Dow Jones)- Lloyds Banking Group PLC (LLOY.LN), said Monday that it has received valid acceptances in respect of 34,794,322,592 new shares representing 95.314% of the total number of new shares to be issued pursuant to the rights issue announced by the company on Nov. 3.

MAIN FACTS:

-It is expected that the new shares will commence trading fully paid on London Stock Exchange main market for listed securities on Dec. 14.

Supper % take up 95.314, much better than anticipated and difficult to reach that percentage on such a large Right Issue.

Shares moving higher with the market

They expected to place the rump within two hours using a "single digit", so most likely we will know the price later .........


Lloyds Banking Group today hailed the success of Europe's biggest ever secondary share issue with its 13.5 billion rights issue taken up by more than 95% of investors.

That was far higher than most analysts had expected and better than the 87% take-up seen in an earlier fundraising this year.

Investment banks Bank of America Merrill Lynch, UBS and Citigroup were expected to have placed the rump of the issue of some 1.8 billion new shares in the stock market within two hours.

All bank shares rose sharply today on the back of positive debt news from Dubai with Lloyds shares up 1p to 57p. The new shares were sold at 37p each. Eric Daniels, chief executive, said: "I would like to thank our shareholders for their considerable support for our capital raising programme. Our focus remains on delivering on our plans to become the UK's leading financial services company, which we believe will result in significant benefits for all our shareholders."

The rights issue is the second part of Lloyds' fundraising as it has also raised 10 billion in fresh capital through a switch of bonds into convertible notes known as CoCos. The Treasury took up its rights in the share issue, maintaining the taxpayers' stake at 43%.

Lloyds' army of 2.8 million small shareholders is believed to have either ignored the issue, sold their right to buy new shares or used "tail swallowing" to take up some shares and sell other rights to avoid laying out extra cash.

Lloyds seen pricing rump at around 56p - traders
Mon Dec 14, 2009

LONDON, Dec 14 (Reuters) - Britain's Lloyds Banking Group (LLOY.L) is placing the rump of its record
13.5 billion pound ($21.9 billion) rights issue at around 56 pence per share, with the placing
closing at 1000 GMT, traders said on Monday. One of the traders said the shares, worth just
over 600 million pounds ($970 million), could be placed at just above 56p.

The bank is expected to detail the official results later on Monday.

Lloyds Banking Group announces that BofA Merrill Lynch, UBS Limited and
Citigroup Global Markets U.K. Equity Limited, acting as joint global
co-ordinators, have today procured subscribers for all of the 1,710,765,987 New
Shares for which valid acceptances were not received under the Rights Issue (the
"Rump"), at a price of 55.5 pence per New Share, a premium of 18.5 pence to the
Issue Price of 37 pence per New Share.

They managed to bring the price further down to 55.50p as 11 am time most likely used as RUMP price ..............


COMPLETION OF THE RIGHTS ISSUE PLACEMENT

Lloyds Banking Group announces that BofA Merrill Lynch, UBS Limited and
Citigroup Global Markets U.K. Equity Limited, acting as joint global
co-ordinators, have today procured subscribers for all of the 1,710,765,987 New
Shares for which valid acceptances were not received under the Rights Issue (the
"Rump"), at a price of 55.5 pence per New Share, a premium of 18.5 pence to the
Issue Price of 37 pence per New Share.

So thats 111p then :-)

Master RSI

Rump sold 55.5p being the best price that was available for the take up of the whole.
Previous closing price has no connection to the placing price. How can it when even the size of the rump is still unknown at the time.

re - Previous closing price has no connection to the placing price

We know that, placing price was 37p.
But has a close conection to the price of the rump next day

It was argued that the Institutions did not have enough money to pay for the rump at around 56p so they brought the price further down, to around the price they were ready to take them up, after opening well up.


re - How can it when even the size of the rump is still unknown at the time.

A very good point
But it closed at 11am on Friday, they had a few days counting already, and by late afternoon they had a good idea of the % that at the end was much better than expected.
The price is allways manipulated on advanced of information

Master RSI

Pointless continuing this because amongst a number of other things, you obviously don`t even understand how a placing works.
As it appears you post the majority of the content on this thread I will leave you in peace, and blissful ignorance.

Yer but he posts good cartoons?

Perhaps 37p is what the share is worth.

Just asking?

8-)


I






















Ps I always thought the Market fixes the price, if not the value of a share,


I didn't know it was RSI at his influential best!