A good set of results from SVB today drove the price up 6p. They are also to start paying a dividend again. A whopping 0.25p so it won't make anyone rich, but it is a start.

Any other brave holders out there?

If there is anyone out there holding SVB, I'm interested in your views on whether to buy the open offer. My inclination is to go for it but I would be interested to hear others' comments.

go for it. At the very least sell your equivalent of the offering at 48p knowing you can buy them back at 44p. If you are a believer as I am hold the upside is potentially in excess of 100%. Currently against historic evaluations the market rates Insurers very lowly this will change in the near future imho etc

KnowingMe,

I have no position currently, but agree with your call on this entirely.

Best of luck with it Socs and KM.

Cheers

Ash

Thanks KnowingMe and Ashley. I am grateful for your opinions. Barring another disaster I consider that SVB is a promising investment.

Socks

I think we will now see SVB move ahead. Those that were selling to raise money for the rights have done so. Those who needed convincing that a line has been drawn under previous years can now see it is done, therefore a move to 10-20% above NAV is the first likely event. This would put the price in the area of 75-85p. My belief is that this move will be a sharp one and soon. Then a rerating of the sector should push it yet further North. As a sector the ILVs are now clearly overdue a rerating.

Well as soon as I posted the price went up 3p! Is it me? well I am posting again lets see if this does the same trick!

knowingme
Keep up the good work, I need some profits to offset the bear market. It may be that there are indications of a strong take-up of the open offer. I've sent mine off already, if this keeps up I won't be regretting it.

Wow it worked! Joking aside it looks like the sector is starting to move positively and this ILV is the one with the most dramatic upside and with the risks now dealt with, heres looking forward to Monday. Good luck to all that hold, not that we need it as I anticipate next week should see us into the sixties. all imho and that stuff

Offer had 80.4pct take up and due to open for trading this morning. If price holds around the .50p mark could be encouraging.

Liz
Not only price held but up two days running! Isn't that encouraging?

this is only going one way and that is up.