Lloyds Banking causes City divide

Just noticed the dividend has been received today.

From the Telegraph

Lloyds to inject £1.2bn into UK companies over next three years

LDC, the private equity arm of Lloyds Banking Group, has pledged to bolster the nation's "forgotten army" of medium-sized businesses

Private equity giant LDC has announced plans to bolster Britain’s midmarket by investing £1.2bn into the sector over the next three years.
The landmark investment pledge will accelerate growth amongst the nation’s so-called “Mittelstand” companies, LDC said, providing a significant boost to the UK economy.

Mid-sized firms represent 0.5pc of the active businesses in the UK but contribute one-fifth of employment and turnover. Business lobbying group the CBI has hailed the midmarket as “the forgotten army” of the UK economy.

LDC claimed that its investment plans would not only inject much-needed capital into the midmarket but that its expertise would be invaluable in helping these firms to scale domestically and internationally. Just 17pc of mid-sized firms currently export beyond Europe, lagging behind their counterparts on the Continent.
“Mid-sized businesses are vital to the UK economy, and our core aim is we want to help them grow more quickly,” said Chris Hurley, joint chief executive of LDC. “Private equity is a powerful catalyst.”

LDC, formerly known as Lloyds Development Capital, has invested £930m into mid-sized companies over the last three years. It is the most active midmarket investor by deal volume, completing six deals - worth a total of £200m in growth capital - in the year to date.
In 2013, LDC invested £22m into rural fashion house Joules, taking a minority stake in the mid-sized firm.

According to Joules founder and chief executive Tom Joule, the capital enabled the firm to build up its multichannel business, and expand into the US and Germany.

Tom Joule launched Joules in Market Harborough in 2000
The £100m-turnover company operates wholesale and e-commerce businesses, as well as selling its clothing at equestrian events and through its portfolio of 100 stores.

“We’re driving the international business and LDC have acted like non-execs, providing a great sounding board,” he said. “They are not focused on the 'low-hanging fruit’ like bankers, who just want a quick return.”

Mr Joule called on other equity backers to make similar pledges to the British midmarket, claiming that “it could only be good for the UK economy.”
“Big corporations can’t be everything to everyone,” he continued. “Joules and Jo Malone and Cath Kidston, we all add a point of difference. The midmarket gives consumers a choice. We deserve to be celebrated for that.”

Intention to continue selling shares in Lloyds Banking Group plc through Trading Plan

UK to launch Lloyds retail share sale in next 12 months

Britain said it will launch a sale of shares in Lloyds (LLOY.L) to private retail investors in the next 12 months and has extended a facility enabling it to sell more shares in the bank to financial institutions.

The sale is expected to be the biggest privatisation since the 1980s when Margaret Thatcher's Conservative government sold 3.9 billion pounds of shares in British Telecom and 5.6 billion pounds worth of British Gas shares.

As well as raising money for Britain's finance ministry, those sales aimed to encourage ordinary Britons to invest in the stock market, an aspiration shared by the current Conservative government.

So will this be unlike BG sale? ( the 1st Privatisation I recall )
The Public will be offered shares in LLOY below their true value?
-but surely their true-value is already known, since they are traded openly....
Er, so where is the private profit coming from?

( and importantly, where is the Public =Taxpayers profit coming from? ) . . . it's been a few years that we lent them so much money - Indeed, so much they decamped to Scotland (wash my mouth), where they hold AGMs.

I can wait and see . . . . but wouldn't want to miss a Profit.

Post apocalyptic high was 89.20p on May 15th.

Settlement on PPI Complaint Handling

Lloyds on track to top 100p

Barclays Capital Overweight 86.99 90.00 105.00 Retains

OH YEESSS!

The Commissioners of Her Majesty's Treasury Below 17%

Britain has cut its stake in Lloyds Banking Group (LLOY.L) to below 16 percent, taking the total raised through the sale of the government's shares in the bank to more than 12.5 billion pounds ($19.5 billion).

Lloyds said on Thursday that Britain's finance ministry had reduced its stake to 15.9 percent, from 16.9 percent, in a further step towards its full privatisation which is expected next year.

http://uk.reuters.com/article/2015/07/03/uk-lloyds-sale-idUKKCN0PC0EL20150703

"The government's remaining stake is worth 9.9 billion pounds at current share prices. It is expected to offer retail investors the chance to participate in an offer of several billion pounds worth of Lloyds shares next year."
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At the rate of disposals that share sale to the public will likely come this year
rather than next!

Societe Generale Buy 84.98 98.00 102.00 Reiterates

Canaccord Genuity Buy 84.98 70.00 100.00 Upgrades

Gvnt holding now down below 15%
That didn't take long for the last 1% drop.

Better late than never.......I suppose! (Though sacrificial lambs springs to mind if things go wrong).

"StockMarketWire.com
Lloyds Banking Group has established a Responsible Business Committee of the Board.

Sara Weller has been appointed as the chairman of the new committee and its other members will be Lord Blackwell, the Group chairman, and Anita Frew, deputy chairman.

Ms. Weller said: "The creation of the new Board-level Responsible Business Committee is a further demonstration of our commitment to put customers and communities at the heart of everything we do. The Board remains focused on ensuring that the Group makes the right decisions for the right reasons."

Nomura Buy 87.55 100.00 103.00 Reiterates

Swines!

Exane BNP Paribas Outperform 86.86 100.00 95.00 Reiterates

StockMarketWire.com
Lloyds Banking Group has agreed the sale of a portfolio of Irish commercial loans to a consortium comprising Ennis Property Finance Limited, an entity affiliated to Goldman Sachs; Feniton Property Finance Limited, an entity affiliated to CarVal; and Bank of Ireland, for £827m. The gross assets subject to the transaction are c.£2.6 billion, of which £2.3 billion were impaired and in the year to 31 December 2014 they generated pre tax losses of c.£130 million.

The sale proceeds will be used for general corporate purposes and the transaction is not expected to have a material impact on the Group but will be capital accretive (c.7bps).