barclays will ge coming out with trading update on 07.05.2009 It is expected to report profits higher than market expectations.

A good Buy Medium to Long term

Barclays PLC Announces Leverage Plan

Introduction

On 20 June 2013 the Prudential Regulation Authority announced the results of its review of the capital adequacy of major UK banks and building societies. As part of its review, the PRA introduced a 3% Leverage Ratio target, calculated on a PRA-adjusted CET1 capital base and using a CRD IV leverage exposure measure. As at 30 June 2013, Barclays' PRA Leverage Ratio was 2.2%, representing a gap of £12.8 billion.

In order to achieve the PRA 3% Leverage Ratio target by June 2014, Barclays today announces a series of actions, including an underwritten Rights Issue, measures to reduce Barclays' CRD IV leverage exposure, and the continued execution of Barclays' capital plan with the issuance of CRD IV qualifying Additional Tier 1 securities. More detailed information is set out below.

Rights Issue

Barclays PLC today announces its intention to raise approximately £5.8 billion (net of expenses) by way of a Rights Issue of one New Ordinary Share for every four Existing Ordinary Shares at an Issue Price of 185 pence per New Ordinary Share. This represents a discount of approximately 40.1% to the closing price on the London Stock Exchange of 309.05 pence per Ordinary Share on 29 July 2013 (being the last Business Day prior to the release of this announcement) and a discount of approximately 34.9% to the theoretical ex-rights price based on the Closing Price.

Barclays Investment Bank is acting as global co-ordinator for the Rights Issue. The Rights Issue has been underwritten by a syndicate of banks comprising Credit Suisse, Deutsche Bank, BofA Merrill Lynch and Citi. Further details of the Rights Issue are set out in Appendix 2 of this announcement.

China might be interested if no one else is.. again.

In the words of the bard " bum"!

Looks like desperation to me?...Oh dear!

Tin Hat alert!

Just 5% down….that looks like a generous get-out to me…I have no financial interest in the barc casino…or would ever desire one…tricks being played here imo?

I expected far worse - price taking into account the RI is @284.2p.

Early days chaps.

looking like a reasonable time to buy, though i'ld be more inclined to buy the sector

Good luck there mate! lloy are ok and i hold a few...that's a first...

barc...............ffs!

I expected a lot worse but could still go down from here. I will be taking up my rights issue, seems daft not to when there is still a premium.

So Bull….do you believe the SP reaction legitimate? lol

I know straighter springs.. than the guys behind barc…

Look what happens if a banker shows 1% of honesty or decency….Stephen Hester. lol he resigned…yer right!

tabasco : surprised share price its not far worse. Do think the underwriters are going to make a packet, I expect they are already selling into this market and pocketing £1, I would if i could !

Espirito Santo Execution Noble Buy 295.25 309.05 418.00 418.00 Reiterates

Investec Buy 291.88 309.05 345.00 345.00 Reiterates

BARC shouldn't have a problem getting the rights issue away with a 40% discount @ around 180p at present.

.

[Deep discount Rights issue - TV News Item.]
Seems odd to me that no-one saw this coming! No doubt the Execs will get a Bonus if they manage to pull-wool again. As I think the 50-p level was nearer the mark (2007.?). . . . and still is.
If Banks can't make profits as a result of their tricks, then any returns will be far less than the past performance.

Have they clarified the details?
Who is eligible and at what price?