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RSA (RSA)     

optomistic - 05 Mar 2004 16:19

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)

Chart.aspx?Provider=EODIntra&Code=RSA&Si
Bottom chart 'fast stochastic'

babykitcat - 13 Jun 2005 12:16 - 231 of 761

thanks tipton i just SPAT ME DUMMY OUT!!!
LOL

joehargan1 - 13 Jun 2005 17:28 - 232 of 761

1.20 is a fair price.

optomistic - 13 Jun 2005 20:02 - 233 of 761

Well baby(how sweet)kitcat and Dave, I see you have kept the thread active today. I've been out all day but have managed to catch a glimpse of the action ocassionally. Bit dissapointed that we did not finish the day a little higher..but there is always tomorrow and it's early days yet on a bid front and the stock I believe still representing fair value at todays levels.
edit: I like the last trade of the day...3.708.700 @ 4611.41. now I really do like that Aston DB9 6 litre V12 :-)))

daves dazzlers - 13 Jun 2005 20:24 - 234 of 761

Now now opto,join the qqqqqqqqqq for that motor..

optomistic - 13 Jun 2005 21:15 - 235 of 761

You having one as well Dave? If there's a long wait I could take a Porsche for a while.

goal - 13 Jun 2005 22:11 - 236 of 761

I've been out all day too opto, it's getting a bit loud on this thread!! I am going for a Range Rover Vogue.

optomistic - 15 Jun 2005 08:13 - 237 of 761

Brandes have increased their holding to 9.7%

babykitcat - 15 Jun 2005 09:05 - 238 of 761

brandes increase to 9.7% aand RSA go down typical!!

optomistic - 15 Jun 2005 09:15 - 239 of 761

babykitcat, patience :-)

babykitcat - 15 Jun 2005 10:47 - 240 of 761

purrrrrrrrr

daves dazzlers - 16 Jun 2005 13:24 - 241 of 761

Thats more like it,drive it forward.

optomistic - 16 Jun 2005 20:44 - 242 of 761

Still purrrring babyk?

babykitcat - 17 Jun 2005 00:14 - 243 of 761

yes im happy as a PIG in SUGAR!! or a cat in a bird cage.
seriously though we should see a little more movement tommo looking at the trades going through after 4:30 also the papers on sat/sun should help for mondays trade.......PAWS CROSSED

daves dazzlers - 17 Jun 2005 08:04 - 244 of 761

Ouch.

Stan - 17 Jun 2005 08:23 - 245 of 761

Corvus drops tentative plan for Royal & Sun Alliance bid

AFX

LONDON (AFX) - Corvus Capital Inc, the takeover vehicle of financier Andrew Regan, said it has abandoned tentative plans to bid for Royal & Sun Alliance Insurance Group PLC.

In a statement, Corvus said it had dropped its takeover proposal after RSA's management indicated that it would not support any offer.

'Corvus...would only have intended to proceed with an offer for RSA with the cooperation of its existing management. This cooperation was not forthcoming,' the group said.

Corvus first announced that it was mulling a bid for RSA on Monday, confirming earlier market speculation, and pushing the insurer's shares sharply higher.

Analysts had expressed scepticism that any offer would materialise, pointing out that possible future liabilities at RSA's discontinued US business would pose a serious obstacle to a successful takeover.

mn/cw

I was having a look at these.....glad I didn't buy after this.

What were Brandes thinking of?

daves dazzlers - 17 Jun 2005 08:36 - 246 of 761

Nothing like a bit of papertalk stan,dont think it was ever on the cards to be honest.

optomistic - 17 Jun 2005 09:25 - 247 of 761

I don't think this move has surprised anyone, particularly the market, otherwise the drop would have been greater. Never credible that Corvus and its 'team' would have been able to take RSA.
I'll back the judgement of Brandes in this one and will continue to hold accepting a good divi return and still the possibility of a serious contender for RSA showing their hand.
Good luck all
opto

Stan - 17 Jun 2005 10:23 - 248 of 761

Thanks for your thoughts Dave and Opo, gives me further food for thought.

babykitcat - 17 Jun 2005 10:35 - 249 of 761

interesting how the price is still holding could there be more news to follow?

jj50 - 17 Jun 2005 10:37 - 250 of 761

I am hanging on to this too but not very "optomistic" in the
short term!
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