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'

Volume much lower today and buyers seem ready to push the price up a bit to encourage sellers.

Seems to have finally cleared the seller who has been selling out for days around 506-507.

Price seems to be ticking up slightly ahead of the deadline but on so little volume it suggests any offer will not be that high

I took a few off the table yesterday @ 510

One of the few bright sparks today.

Seriously thinking of selling this and sticking the money on well anything else

Edit: sold 60% and bought some RBS, STAN and PFL. On the basis Zurich want an extension no offer is going to be made imminently and I think I can make more elsewhere

Edit2: whole lot gone now. Rest of cash on RDSB and WEIR. Bit risky but "who dares wins"

Update regarding Possible Offer for RSA Insurance Group plc (“RSA” or the “Company”)

The Board of RSA (the “Board”) announces that it has received a revised proposal from Zurich Insurance Group (“Zurich”) regarding a possible all cash offer for the Company at 550 pence per ordinary RSA share (the “Possible Offer”). In addition, under the terms of the proposal, RSA ordinary shareholders retain the right to receive the 3.5 pence interim dividend announced by RSA on 6 August 2015. The Possible Offer is conditional on, amongst other things, due diligence and the recommendation of the Board.

more...

Ooops! Zurich announces it does not intend to make an offer for RSA

Zurich provides preliminary update on third quarter 2015

Panmure Gordon Sell 407.05 509.50 550.00 385.00 Downgrades

CC called it right though his remaining 40% must look a bit sick

bad luck chaps :-(

Feeling very relieved today. Sold the whole lot on 24 August (see edit2 in the post)

Can't say I did very well with the switch though. Did well out of RBS and PFL but STAN, RDSB and WEIR have gone no-where

Cannot understand why it is as high as 405 now the offer has lapsed. I would suggest something starting with a 3 looks more appropriate.

Give it time CC. I like you can feel very relieved to have cleared the decks, 1st lot at 510 and finally the last at 512. Added to a position in BP with some of the loot...not a short term bet but looking for income...as I was with RSA when I first went in! Hoping for better luck with BP.

Lucky to get out of RSA at good gain so soon :-)

RSA Insurance schedules update

StockMarketWire.com

RSA Insurance Group will issue a third quarter interim management statement on 5 November.

At 1:01pm: (LON:RSA) RSA Insurance Group PLC share price was -1.2p at 403.9p

Story provided by StockMarketWire.com

RSA'a Progress http://www.moneyam.com/action/news/showArticle?id=5146876

Nationwide announce partnership http://www.moneyam.com/action/news/showArticle?id=5176998

The Bollinger bans on the chart are very tight...often a chance of a breakout from the trading range from here.
The last exit from the bands was in the wrong direction but now back in, hopefully for holders it will be in a better direction next time.
I was lucky this time and exited just before the drop @ 510p...not something that happens to me very often!
Good luck all.

Disposal communication http://www.moneyam.com/action/news/showArticle?id=5203265

Results: http://www.moneyam.com/action/news/showArticle?id=5219856

Up over a stonking 10% no less on those results, well done RSA.

Ex-divi Thurs 3rd March 2016 (7p).

Another South American disposal http://www.moneyam.com/action/news/showArticle?id=5271137