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'

Will be nice to stay above 80p.goal.

88 + million traded.....touch above the average.

On a dismal day on the market RSA firm on good volume.

2 consecutive days - must be a trend!

Too early to call a trend I think, but it is looking positive.

Yes,trending up.

Good volume again this AM, lot of interest being shown in RSA.
AIG gave out good figures yesterday and increased dividend. No better time for them to move if they are intending to.

Its looking good for 90p this week.goal.

Its looking good again.

The Guardian reported that Royal & Sun Alliance, up 1-1/4 at 85-3/4,
has attracted the attention of a US group. optomistic/namreh3, are you still here? goal.

Still here but am puzzled by buoyant sp. RSA still pretty dodgy at these levels - pure bid speculation keeping sp above 80p. I am out and will not be in again until sub 80p. Apologies for pessimistic view. Hope, if you are in, 90p soon otherwise take care.
Nam

Still here Goal and travelling hopefully. Even taking away the spec of takeover I have high hopes of a good gain on RSA. Often high trades in the stock and all it needs is a small turn in sentiment then it could move.....

Now you have gone quiet Goal. Two conflicting views here, where do your thoughts lie....... optimistic or pesimistic for RSA?

optomistic/namreh3 sorry for the late reply, its nice to here from you both on this thread again. I see a continuation rectangle formation so onward & upward we go.Have a good weekend. goal.

hope u all stayed in and are making $$$$ like a prat i got out 3 weeks ago well done all

Hi babykitcat, in my opinion we have only just started. Once thay have sorted out the asbestos problem this could be one of the biggest riser in the FT 100. goal.

How long to sort out the asbestos mess - and what is the impact of the weak dollar on earnings?

Traded firmly today in a very 'steady' market. Let's see how they go on the next good day. We have a sideways channel in place, look forward to a break on the topside then it could move.

Today could be the 'breakout' day but this level needs to hold and then we could be away!!

6,000,000 sell @ 89p....price held.