http://search.ft.com/nonFtArticle?id=080123000067&ct=0

Looks the same as PAG with fewer assets, 15 pence would seem about the correct level?

Big rise today but is that Market makers pumping. Looks like an avoid to me.

Got to 146%

Just puked up my lunch. This is painful.

Can't win em all (taken of my watch list).

London Scottish Bank swings to 6.5 mln pounds pretax loss for 5-mths to March 31
AFX


LONDON (Thomson Financial) - London Scottish Bank Plc. said in the five months to March 31, 2008, the group reported an unaudited pretax loss of 6.5 million pounds versus a profit of 2.4 million last year.

The company said the uplift in the carrying value of portfolios of 1.7 million seen in the first five months of 2007 has not been repeated so far in the current financial year.

It added it expects its debt purchase and debt collection division Robinson Way to have another successful year as it is strategically well positioned in a growth market.

It also said the group will integrate London Scottish Finance and Morse's Ltd. in the second half of the year in order to eliminate duplicated costs and improve the future financial performance of the Unsecured Consumer Credit division. These savings are expected to be about 10 million pounds in the second half.

The group also said following completion of the bank refinancing it plans to raise sufficient equity capital in order to remedy the shortfall of regulatory capital and to position the group on a growth platform.

Wonder how many people jumped on this bandwagon yesterday just to get their arses kicked today!

today could be the turn of the people who lost out to gain some.

some win some loose, we have all been through this.

what a relief!! not a total loss now!

Good gains on Friday but crazy movements today!

Another one bites the dust...


London Scottish Bank said today it had gone into administration after suffering a shortfall in its capital reserves.

LSB, which focuses on unsecured consumer lending and debt collection, said it had sought an administration order on Sunday, and that audit firm Ernst & Young had been appointed as administrator.