Barclays may lose control to Middle East investors

Jan 22, 2009 | Comments 8

Barclays may lose control to Middle East investors
The UK Government is in talks with Barclays PLC (NYSE:BCS) after the bank admitted that raising the extra capital needed for the bank’s future could trigger a clause which would see the UK bank lose control to Middle East investors.

The Government is now having to come to terms with the fact that if they do help Barclays, then they could see the UKs fourth largest bank being delivered automatically to the Middle East, this is due to a clause that had been agreed by the bank in October.

Sheikh Mansour Bin Zayed Al Nahyan, who are members of the Abu Dhabi royal family, as well as two Qatari investment vehicles decided to invest £5.3 billion in Barclays in October. In return, they took a series of investment structures, which were on the complicated side. The bulk of these were “mandatory convertible notes”.

The terms state that the investors have to wait seven months for delivery of those shares, which will convert to 153.276p. If at any time until June 30 Barclays

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manages to raise more capital at a lower price, then those Middle East investors will be able to take their shares at that lower level as well.

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  • http://www.freewebs.com/hankybanky Dr Elsayed Selim

    Once again the Arab Galbiyas step in to save the Zionist Banks like Barclays in return for keeping their thrones.

    But I am afraid this will soon change and those puppets will be thrown in the dustbin of histroty and so will Barclays and the other failing money grabbers

  • Dr Islamy Salamy

    Once again the Arabs come in profit off the backs of the rest of the world for all their hard work and effort. All this for tending to the petrol stations of the world.

    Not to worry Dr Selimaroony the end of the Arabs puppet states are just a few solar cells away.

    Dr Islamy Salmay Peporoni

  • Dr Mohammed Ibrahim

    Dear Dr Selim,

    Are you a complete idiot. Lets hope the Dr refers to a PHD in Liberal Arts, rather than a Medical Dr. At least then we can understand your small brain and even smaller person.

    Thanks

    Dr Mohammed Ibrahim

  • James R

    So, Barclays cleverly created a poison pill to prevent them from being nationalised. I’m surprised it’s lawful for an FSA-regulated UK bank to do that…

  • Dr. M. Bashir

    I doubt “Dr. Selim” has a phd or is qualified as a medical doctor. He sounds like a small minded individual whose mind is filled with heresay and rubbish published by other small minded zealots.

  • Peter Johnson

    Not a particualry difficult poison opill to get around if the midle East Investors bought ~3.5 billion shares at £1.50 and the company is likely to go bankrupp and need £14 bilion say they could.

    Issues 1400 billion shares at 1p each bought by the UK tax payer .
    The middle east group will then have the option to buy a 1p as well so 350 billion shares for them still only 20% of the new shares in issue

  • http://www.freewebs.com/hankybanky Dr Elsayed Selim

    Thank you Dr Mohammed Ibrahim

    If you had a little bit of knowledge as long as your tongue, you could have found on the Internet who am I.

    It seems to me that not only you have a Ph.D. in Typing which is giving you a great inferiority complex, but you think that Dr means a medical doctor. No Sir, what most people call doctors are actually physicians.

    Also, It seems from your answer that you must belong to one of the thieves ruling the Oil sheikhdoms and who bought a Ph.D. from a supermarket university in America or Europe, or that you are one of their beneficiaries.

    I would be happy to be called an idiot as you said, but I am not a bloody traitor like you.

  • http://www.freewebs.com/hankybanky Dr Elsayed Selim

    To: James R

    You are right.

    but, Do you really believe that the FSA quango has any influence on any bank or financial institution?

    All those quangos are just a decoration to make the British public feel taht there are integrity in the financial system. Also they are jobs for the boys and girls.