The 2013 full year preliminary results for RSA Insurance Group plc was announced 27 February 2014.


"3 FOR 8 RIGHTS ISSUE AT 56 PENCE PER NEW ORDINARY SHARE
Further to the announcement on 27 February of its preliminary results for the year ended 31 December 2013, RSA Insurance Group plc ("RSA" or the “Company”) today announces the launch of a rights issue to raise £773 million in proceeds (£748 million net of expenses) (the “Rights Issue”). The Rights Issue is a fully underwritten 3 for 8 rights issue of 1,380,976,863 ordinary shares of 27.5 pence each in the capital of the Company at a price of 56 pence per New Ordinary Share.
The Issue Price of 56 pence per New Ordinary Share represents a discount of approximately 40% to the closing price of 93.4 pence on 24 March 2014 (being the last business day prior to the release of this announcement) and a 32.7% discount to the theoretical ex-rights price based on the closing price on 24 March 2014."

(thanks to skinny for this article)


Bottom chart 'fast stochastic'

a dividend supports the price and applies some disipline to boards who often only think of their own income and remaining sweet with the employees...as TOK points out some of us need an income.

Agreed TOK and Tipton, divis are a welcome income, it is just a shame that the divi value is often taken off the stock price immediately after going x/d. Luckily as we know the price often soon recovers, look forward to that happening with RSA.

spot on optomistic

Good time to top up, namreh3, are you back in now its around the 80p level? goal.

this will recover big time balance of week - could see 85p by the close.

Well its still holding above 80 just , Should drop on thursday with the dow in freefall,but this rsa,,,,you just never know !!

Still watching.

Where`s it going today,its holding court just.

Which one of you lot is doing the buying ,i bet its opto.

Getting a bit cheaper to buy now 79.75 ,,still not good enough for me!

You're not jinxing it are you Dave?



Only they will be after you if you are!
;>)

Is it one you hold,i think it is ?

At this rate it will be april before i see 75.

Morning Dave, nice to see you in such a 'cheerfull' mood this morning..

Morning opto,it must be the weather.

Is it going to be heavy going at the races Dave? if so don't get too close behind a rough shod horse :-))

RSA,have sponsored a few races at the festival this week.

Just announced that Directors Mr Haste and MrCulmer bought yesterday 62,305 and 62,893 shares respectively

opto,still falling

Cheers Dave

Going in your favour today opto.