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'

Joe h, I think that if the results are up to expectations it won't take 4/6 weeks to reach 92/95p. Sorry about the open post folks....trigger happy :-)

Thought the results looked OK so disapointed with the sp. Any further downside is going to put RSA on a very attractive yeild, near enough 5% right now.
Must be some trades not yet reported as the recorded buys are way outnumbering the sells this AM.

seriously considering buying more, looking for the the wright time.

Still slipping goal, hopefully it will level soon. Loads of buys going through.

Yes, but nothing goes in a straight line & I am very optimistic that RSA will start to recover some of its share price that it has lost over the years, it looks like they are determined to me.

Do agree goal, I'm holding.

At the end of the day, we want to make money, This is the only FT 100 company I have shares in & it is because there is more up side than down. goal.

2 million buy just reported @ 83.83p.....that you topping up goal.

Not yet.

Two buy trades recorded 12.23pm 4 million @ 82.5p 12.31 pm 4 million @ 82.5p. Still showing -1.5p

Taken from Company report page 24:

Asbestos Developments
Turner & Newell
Further to the High Court ruling against us and in favour of Turner & Newell (T&N) in 2003, we are pleased to
confirm that Royal & SunAlliance, in conjunction with other former employers liability insurers of T&N, have been
able to reach agreement in principle with T&Ns administrators that a sum of money has been made available
towards compensating workers exposed to asbestos by T&N during the years covered by the policies. This will
conclude the insurers involvement in any asbestos liabilities of the T&N companies.
It is the Groups policy not to comment on our reserving for individual incidents. However, we are adequately
reserved for the proposed agreement within our overall asbestos reserves, which are subject to regular review
and are within an appropriate range.

Proposed US Asbestos Legislation
An amended version of Senate Bill 2290 (Fairness in Asbestos Injury Resolution or FAIR Act) will be introduced
shortly by Senate Judiciary Committee Chair Arlen Specter. The amended bill, like the bill 2290, will include
establishing a privately financed trust fund to provide payments to individuals with asbestos related illnesses and
removal of asbestos claims from the tort litigation system for the duration of the fund. The proposed bill would
remove pending and future cases from the judicial system and place these cases and claims into a no fault Trust
Fund to be administered by the US Department of Labor. It would establish medical criteria to ensure that only
people who showed signs of asbestos related illnesses would be entitled to payments from the trust.
The Group was a member of the core working group helping to develop recommendations with respect to the
insurance industrys financial parameters relative to the Trust Fund. This group became divided over allocation
issues, withdrew its support for an allocation system based upon a ground up reserve analysis and decided
instead to support the proposal that allocation be determined by an Allocation Commission. The industry group
has now disbanded.

The sells catching the buys now, will that mean the price will rise :-O)

Evening all funny old world we live in,when the rsa results came out i thought it looked good for them and still do , but sp wise its a disaster,lets see were we go next week 75 i doubt it ,,but you never do no,

Fingers crossed .

Evening all,in case you were wondering opto weather I bought more, no not yet,
as you know timing is everything in this game. Have a good weekend.goal.

You're so right about timing goal, afraid I got mine wrong 12 months ago! Prospects are that the next 12 months (or less) will put things right.
Sound idea to have a good weekend, cheers.

opto I feel very confident that RSA will bounce back thats why I bought in the first place, as I said this morning I don't usually buy FT 100 company's, this one has huge potential.goal.

When is the x divi date for this rsa,has it just been or is it on the horizon soon,& any thoughts on the price when the divi has gone from the company account ?

2.96 in the morning then.

Dave, ex div day is today 16th March