Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

Cash = "LBHI will apply for a listing for the Substituted Preferred
Stock outside of the United States"

(These 1500+ miles Texas flower delivery trips are picking up steam! Well, back to the drawing board!)


"Although LBHI has undertaken that, in the event that the Preferred Securities are substituted by depositary
shares representing Substituted Preferred Stock, LBHI will apply for a listing for the Substituted Preferred
Stock outside of the United States, there can be no assurance that a recognised stock exchange will agree to
list any such Substituted Preferred Stock. In addition, the tax treatment for holders of Substituted Preferred
Stock may be different from that for Holders of the Preferred Securities."

*** The 13 November 2017 RSM notice!

"5.1 The Joint Liquidators are aware... fully paid non-cumulative preferred stock issued directly by LBHI.
.
.
.
5.6 The Joint Liquidators have ... LBHI's intentions were only outlined to the Joint Liquidators in the week commencing 6 November 2017..."

https://www.rns-pdf.londonstockexchange.com/rns/3570W_-2017-11-13.pdf

***

"OFFERING CIRCULAR
LEHMAN BROTHERS UK CAPITAL FUNDING LP
(a limited partnership organised under the laws of England and Wales)
¤225,000,000 Fixed Rate to CMS-Linked Guaranteed Non-voting
Non-cumulative Perpetual Preferred Securities
having the benefit of a subordinated guarantee of
LEHMAN BROTHERS HOLDINGS PLC
(incorporated with limited liability in England and Wales with registered number 1854685)
Issue Price: ¤1,000 Per Preferred Security
.
.
.
Substitution
If a Trigger Event occurs and is continuing, the General Partner will, provided that (if required at such time)no relevant Supervisory Authority has objected, take all reasonable steps to cause the substitution of the Preferred Securities with depositary shares representing fully paid non-cumulative preferred stock issued directly by Lehman Brothers Holdings Inc. (“LBHI”). A Trigger Event shall occur (i) if LBHI is placed into
bankruptcy, reorganisation, conservatorship or receivership, (ii) if following any time when LBHI becomes subject to Relevant Rules, LBHI has capital adequacy levels which are less than the minimum capital adequacy levels which are imposed by the relevant Supervisory Authority or (iii) if, following any time when LBHI become subject to Relevant Rules, the relevant Supervisory Authority in its sole discretion, informs LBHI that it will not meet its minimum capital requirement in the near term.

Although LBHI has undertaken that, in the event that the Preferred Securities are substituted by depositary shares representing Substituted Preferred Stock, LBHI will apply for a listing for the Substituted Preferred Stock outside of the United States, there can be no assurance that a recognised stock exchange will agree to
list any such Substituted Preferred Stock. In addition, the tax treatment for holders of Substituted Preferred Stock may be different from that for Holders of the Preferred Securities."

https://www.bancobest.pt/ptg/bestsite/best_docs/lehman_xs0215349357.pdf