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'

optomistic,

as mpw777 seems to to be absent currently, I have taken the liberty of pasting his post 124 from the trader's Room thread, as you requested above.

I currently have no position nor an opinion, but the chart still looks ok to me.

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from The Trader's Room RSA thread.


mpw777 - 09 Dec'04 - 20:57 - 124 of 125

royal sun alliance ...each of the majestic insurers who make up that consortium used to be the pride of the nation..if not the world. now buched to -gether it is all a rotten egg

the fact is that risks were taken on board at ridiculously low premiumsand if that was not bad enough other riskd had huge liability exposures. frankly, in my considered, view the top management just did not know.....or, as Galbraith stated, that management did not know that they did not know...i suppose the latter is much more dangerous.

at the present time the high court has reserved judgement on 10 cases of pleural plaque. if the judgement goes against insurers there are 500,000 cases waiting to follow. guess who is a major insurer in that area....yes it is yours not so truly the right royal sun alliance.

another alarming aspect is that royal continue to take on board risks which other insurers would reject. that is not all in that royal premiums for such horrendous risks can be astonishingly low.

i thought that royal were going to pull themselves out of the muck heap and that was supported by the executive statement about 14 days ago. in fact at that time i even thought about an option purchase. however information just come to my hand results in my opinion that RSA is destined to stay in that muck heap...and ,of course, RSA have now to make a payment for the other twin tower.

In case you have'nt seen thishttp://www.theherald.co.uk/30716.shtml

goal, it does not seem so long ago that we had a flurry of activity on the rumour of a bid. At todays valuation of RSA the likelyhood of further interest/speculation is always a possibility. As I mentioned in an earlier post the indicators are moving in a positive direction, they are not infallible but a useful guide.

good volume today chaps (and chapelles!). Nice.

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.