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'

opto,still falling

Cheers Dave

Going in your favour today opto.

Its drifting away from me .

Oh its coming back again.

It's a hellova struggle this one, must look ahead but at the moment it's seems unlikely it's going to make much headway. Does need the asbestos issue sorting then there's a chance of progress.

RSA has taken a big hit recently with a couple of broker downgrades and a 400M write-down of assets under the new international financial reporting standard (IFRS). The price is now heading towards strong support at around 75p and I think this will be a very good price to buy in. There has been some takeover rumour-mongering now that the restructuring in the USA has been more or less completed and all of the "bad" news would appear to be in the share price at these levels. It won't buck a bear market, but many other shares have still to take the IFRS hit and the insurance sector has been sold off latetly. I'm looking to buy shortly.

Me to,just on the drift again !!

I see Mr Haste has bought another 64,516 shares. No doubt this has been noted but I have only just arrived home and seen the RNS

This is a real yo-yo share,it just has to many backers to hit 75 i think.

Holding firm again on another market 'down day'

To true opto!

Will we finish blue today??

Well the 'Old Girl' keeps trying but that 80p bid is taking some establishing.

She is doing well at the moment!

Chart and indicators are beginning to look positive:


sp in short term uptrend.
MACD rising to (hopefully to continue through the signal line)
RSI rising.

Lets see were we go this week,morning all.

All this blue around,you would think the sea is coming in.

Must have been a rip tide today Dave, seems to have taken a lot of share prices out to sea today. Sorry I haven't replied earlier but I have been out doing something productive today instead of watching the miserable performance of the market. Will start again tomorrow with high hopes!!
Cheers opto

We might have to wait until Wednesday before the market picks up.