LLOYDS BANKING GROUP ANNOUNCES WILL SAMUEL AS CHAIRMAN OF TSB

Lloyds Banking Group announces the appointment of Will Samuel as the Chairman of TSB Bank plc ("TSB"). Will is currently Chairman at the Ecclesiastical Insurance Group Plc and Chairman of Howden Joinery Group plc. Previously he was a Director of Schroders plc, a Vice Chairman of Investment Banking at Citigroup Europe, a Senior Adviser at Lazard & Co Ltd and a Senior Adviser to the Prudential Regulatory Authority. He will join the TSB Bank Board immediately.

The creation of TSB followed a ruling by the European Commission in 2009 by which Lloyds Banking Group agreed to the divestment of a retail banking business with over 600 branches. On 9 September 2013, TSB was launched across Great Britain, bringing a new competitor to the market offering current accounts, savings, mortgages, insurance and loans as well as supporting small businesses. Lloyds Banking Group has stated its intention to float the TSB business through an Initial Public Offering during 2014.

Lloyds Banking Group Chairman Sir Winfried Bischoff said: "This is a great appointment for Lloyds and for TSB. Will brings a wealth of experience to the role and is well-regarded by the market and across the financial services industry. He is a key hire and will be instrumental in building TSB's independent future as a challenger to the other high street banks."

Will Samuel said: "I am delighted to be appointed as Chairman of TSB. The bank has an exciting future ahead as we move to independence and establish ourselves as the home of local banking."

As per post #4609:
"StockMarketWire.com
Equity research analysts at JP Morgan Cazenove have upgraded their recommendation on Lloyds Banking Group (LON:LLOY) to "overweight" from "neutral" following the negative market reaction to yesterday's final results announcement. The broker stated that, given market expectations around legacy costs, NAV growth and capital returns have been reset, there is now scope for the shares to react favourably to positive news flow over the medium term. Analysts have, therefore, increased their price target to 95 pence per share (from 84 pence) which implies around 17 per cent upside potential. Earnings per share estimates have been increased to 7.86 pence (from 7.64 pence) for fiscal year 2015 and to 8.68 pence (from 8.37 pence) for 2016. "

SALE OF A PORTFOLIO OF EUROPEAN COMMERCIAL REAL ESTATE LOANS

Lloyds Banking Group plc (Group) announces today that it has agreed the sale of a portfolio of European commercial real estate loans to MELF S.à r.l, an entity affiliated with Marathon Asset Management LP, for a cash consideration of approximately €280 million, or approximately £235 million at current exchange rates. The transaction is part of the Group's strategy to reduce its non-core run-off portfolio.

The gross assets subject to the transaction are £494 million and in the year to 31 December 2013 incurred a loss of £(54) million. The sale proceeds will be used for general corporate purposes and the transaction is not expected to have a material effect on the Group, including on its capital position, due to existing provisions taken against these assets.

The transaction is expected to complete in the second quarter of 2014.

- END -

Investec Buy 78.51 77.37 85.00 85.00 Upgrades

StockMarketWire.com
Investec has upgraded its recommendation on Lloyds Banking Group (LON:LLOY) to "buy" from "hold", arguing that "it is safe to go back in the water". The broker reckons that the recent pull-back in the share price (the shares are down by around 10 per cent over the past 10 weeks) has presented investors with the opportunity to get hold of a stock with the ideal combination of reasonable value and low-risk. Analysts have left their price target unchanged at 85 pence per share which implies a forecast total return of 12.2 per cent. Separately, Barclays Capital reaffirmed its "overweight" investment rating (price target increased to 88 pence per share from 85 pence) in a note to clients, on Friday. The broker said: "Lloyds shares are not cheap at 1.6x tangible book, but with a relatively clear line of sight to a 15%+ RoTE we believe that they still offer good value."

Further to its announcement on 25 March 2014, UKFI announces the successful completion of the disposal of part of HM Treasury's shareholding in Lloyds Banking Group plc. The disposal was effected by way of a Placing of ordinary shares by way of an accelerated bookbuilding process to institutional investors.

In summary, following settlement of the Placing which will take place on 31 March 2014:

● The shareholding of HM Treasury will be reduced from 23,326,529,533ordinary shares, representing approximately 32.7% of the ordinary share capital of the Company, to 17,771,118,604 ordinary shares, representing approximately 24.9% of the ordinary share capital.

● Accordingly, the overall size of HM Treasury's shareholding will be reduced by 23.8%.

● The Placing Price was 75.5 pence per Placing Share. As a result, the proceeds from the sale of the Placing Shares will be £4.2bn.

● Bank of America Merrill Lynch, J.P. Morgan Cazenove (who have also been acting as UKFI's privatisation strategy adviser), Morgan Stanley Securities Limited and UBS Limited were appointed to act as Bookrunners in connection with the Placing.

● UKFI and HM Treasury have undertaken to the Bookrunners not to sell further shares in the Company for a period of 90 calendar days following the completion of the Placing without the prior written consent of a majority (by participation) of the Bookrunners.

"The Placing Price was 75.5 pence per Placing Share." Nice one - not!!

I suppose the positive side of that is we can all buy LLOY at under 75p now! ;o(

And have done - well just over actually.

Investec Buy 79.11 79.11 85.00 85.00 Reiterates

Sub 75p again! Not performing as hoped atm.

Certainly not especially as I bought more at 75.5
Was hoping for a bit of a recovery now after the placing but that looks like it will have to wait for later this year.

I wonder, 72p on the cards?

03-Apr-14 Lloyds Banking Group
LLOY Deutsche Buy 76.67p 90.00p 90.00p Reiteration


Bought these (SBs) a few days ago as extra to previous share holdings.

90 would satisfy

In accordance with Listing Rule 9.6.1, Lloyds Banking Group plc (the "Company") has submitted today the following documents to the National Storage Mechanism:

· Notice of 2014 Annual General Meeting including a circular for a class 1 and related party transaction (the "AGM Notice")
· Form of Proxy for the 2014 Annual General Meeting

These documents will shortly be available for inspection at www.hemscott.com/nsm.do

A copy of the AGM Notice is available through the 'Shareholder Meetings' ('Shareholder Info') page within the 'Investors & Performance' section of our website www.lloydsbankinggroup.com.

Mailing of these documents to shareholders has commenced today.

The AGM will be held at the Edinburgh International Conference Centre, The Exchange, Edinburgh EH3 8EE on Thursday 15 May 2014 at 11.00 am.


I wonder who's decision it was to hold the AGM in Scotland? There are a lot of perfectly good pub function rooms down here in England!

Bought some late on the day, 3 minutes before close at 74.42p

I see a double bottom for the last couple weeks, with strong support at 72p and gap at 70p
Was making a good progress on the US at the opening with over 1.20 % rise

on the US

Its trying to fill that gap from aug 13, panto, there are some limit buy orders left there , need to be enough.

A good start of the day with a 1p rise, as back on the US last night finished at best of the day $ 5.13 or 2.19% rise

Nomura Buy 74.37 74.37 81.00 89.00 Upgrades

25-Apr-14 Lloyds Banking Group
LLOY Numis Securities Buy 74.26p 97.00p 97.00p Reiteration