Uh. Which is good news, I suppose. I don't really care, to be honest with you, dear reader(s). 'What, boss?! You don't care?!' No. 'But if Aviva Investors aren't spending the summer in the park, then -' No, listen, Voice. I'm talking about - 'What are they going to do? Stay in the office all summer and manage their funds? That would be crazy! Is this Euan Munro's idea?' No, Voice - 'I think they're making a big mistake, if they've decided to join the real world and just be ... working stiffs like everyone else. And they'll miss it, you know? All the ice cream. The lazy, hazy days of summer.' Listen, man! FFS! I mean, Aviva - 'Roll out those lazy, hazy, crazy days of summer! Those days of soda and pretzels and beer! Roll out those lazy, hazy, crazy days of summer! Dust off the sun and moon and sing a song of cheer! Just fill your basket full of sandwiches and -' SHUT UP!!! SHUT UP!!! YOU BLOODY IDIOT, VOICE!!! 'What?' I'm not talking about Aviva Investors. 'Oh.' I'm talking about Aviva, the main company, the goddamn group thing! 'Oh.' Yes - Oh! Aviva has changed its mind, or their minds, whatever, about cancelling the preference shares. I wrote about it last week, remember? 'Oh.' / Here's a bit from the statement, dear reader(s) -
Since the full year results announcement on 8 March 2018, Aviva plc ("Aviva") has heard a wide range of views on its preference shares, has spoken to a large number of investors and has received strong feedback and criticism.
As a result Aviva has listened. Aviva announces that it has decided to take no action to cancel its preference shares.
Under current regulation the preference shares will no longer count as regulatory capital in 2026. Aviva will work towards obtaining regulatory approval for the preference shares, or a suitable substitute, to qualify as capital from 2026 onwards. If as we approach 2026 Aviva needs to reconsider this position, it will do so after taking into account the fair market value of the preference shares at that time.
So all's well that ends well! / 'I'm sorry, boss.' You should just listen sometimes, Voice. Open your ears. 'I don't have any ears, man.' Christ! You have astral ears, don't you? 'Er ...' On the astral plane, yeah? 'Yeah, yeah, of course.' Well, open those. FFS!
...
Jesus H. - !!! / I was supposed to be making another fresh start today, reader(s), but he's already put me in a bad mood. 'Sorry!' It doesn't matter. I'm still doing it. The last three weeks or so were merely the soft launch of my new life. Now I'm really up for it!
Laters!
Since the full year results announcement on 8 March 2018, Aviva plc ("Aviva") has heard a wide range of views on its preference shares, has spoken to a large number of investors and has received strong feedback and criticism.
As a result Aviva has listened. Aviva announces that it has decided to take no action to cancel its preference shares.
Under current regulation the preference shares will no longer count as regulatory capital in 2026. Aviva will work towards obtaining regulatory approval for the preference shares, or a suitable substitute, to qualify as capital from 2026 onwards. If as we approach 2026 Aviva needs to reconsider this position, it will do so after taking into account the fair market value of the preference shares at that time.
So all's well that ends well! / 'I'm sorry, boss.' You should just listen sometimes, Voice. Open your ears. 'I don't have any ears, man.' Christ! You have astral ears, don't you? 'Er ...' On the astral plane, yeah? 'Yeah, yeah, of course.' Well, open those. FFS!
...
Jesus H. - !!! / I was supposed to be making another fresh start today, reader(s), but he's already put me in a bad mood. 'Sorry!' It doesn't matter. I'm still doing it. The last three weeks or so were merely the soft launch of my new life. Now I'm really up for it!
Laters!
