Lloyds Banking Group now finds itself with the largest shareholder base in the UK, at 2.8 million. All of these shareholders are finding a 240-page document landing on their doormats outlining the biggest rights issue in history. Why? First let me put the position of the bank into context. Over the past 12 months the share price has fallen from a peak of £8.20 in April 1998 to a nadir of 25p in January 2009. This reflected the horrendous losses and liabilities that became apparent...
Full Story: BBC News
