"Goshawk said the net charge to the group's profit and loss account resulting from the closure will be in the region of 35 mln in the current year.

Panmure was delighted that Goshawk has finally drawn a line under its Lloyds of London business, with the broker announcing that it would upgrade the stock to 'buy' from 'neutral' as soon as it met with new chief executive, Russell Brooke.

'Investors should be pleased to see that the comment 'Goshawk's liability is limited to its Fund At Lloyd's' in the announcement of the closure of Syndicate
102,' said the broker in a note to clients.
The broker reckons that Goshawk will likely report a loss of 50 mln stg for the full year. However, if it can continue to deliver a 20 pct return on capital at
its re-insurance unit in 2004 and 2005, the shares will begin to look inexpensive, argued Panmure."

Haystack,

The chart doesn't look too positive either!

Goshawk have announced that the bid talks they were in have been ended - the shares have fallen 4p

Could it that the potential bidders walked away because the books didn't look very impressive. I suspect the share price fell because people bailed once it was clear there will be no bid. what are the prospects for this company?

I tend to agree with you Soulretro that potential bidders didn't like what they saw.

With the recent history hanging over them I can't see any upside in the short term without a takeover bid. One to keep watching until some more positive signs IMO.

Yes not good news for GOS, and it would appear contrary to some people's expectations!

Tomorrow morning could bring another fall, as those seeing the news tonight may bail too.

Looks a short for now...

I have small pot in Goshawk, i am sticking in, I reckon it is a recovery play, dividend yield used to high, could probably maintain it in the distance future (as long as it doesn't go bust due to everyone selling their shares). In all, I am willing to risk my small pot in this hope. I will try not to look at the share price over all next couple of days - could leave a man very depressed.

Elsewhere, Goshawk shed 3.75p to 35.75p after Lloyds of London said takeover talks had ended. Dealers think the company rejected an offer of about 40p.

http://www.guardian.co.uk/business/story/0,3604,1092360,00.html

Always a bad sign when multiple bidders walk away quite quickly. Is there something nasty in the woodshed?

Well this is starting to look interesting again. Money should flow into this sector at this time of year. Also the market uncertainity makes ILV's an interesting proposition.

Blimey what happened to this !

I took this off my monitor the other week at 23p and now
it's 5p !