CHESNARA

This has a dreadful chart for last few months.
Didnt know why.
But it appears that USB has disposed of 4.2million over recent period which I think probably accounts for depressed 2 mths.

Strong points are its projected yield of 8.67% .
Peg of .36 and projected Peg of .29
Projected Profit 50% rise.

I have held these from about 98 before disposing of them at about 170 and re-buying some at 169 and 155 and 158 after recent drop on 31/102005 when it dropped probably due to USB sell..
Also bought some CFDs

My guess is that it is going to recover fairly sharply.

BDYOH

Anyone any thoughts to when this one reached the bottom again?

Stan - I no longer hold, having added to FLG last month.

I may look again nearer March.

Financial Calendar

Recent Brokers

Back on the list.

Proposed Acquisition and Placing

Proposed Acquisition of Waard Leven N.V., Hollands Welvaren Leven N.V., Waard Schade N.V. and Tadas Verzekeringen B.V. ("Waard Group") by Chesnara plc ("Chesnara" or the "Company") for €67.8 million (approximately £55.1 million) plus deferred performance related consideration (the "Acquisition"), and placing to raise approximately £35 million

Highlights

· Acquisition of the Waard Group, comprising three insurance companies and a servicing company, for a consideration of €67.8 million (£55.1 million)(1)
· Estimated European Embedded Value ("EEV") of the Waard Group as at 30 June 2014 is €92.0m; the consideration of €67.8(1) million represents a discount of 26.3% to EEV
· The Waard Group businesses are strongly capitalised and the potential for phased, orderly capital extraction is a key attraction of the Acquisition
· The Dutch market offers significant consolidation potential and the servicing company being acquired provides an operating platform to facilitate this
· Placing of up to 11,504,765 new Ordinary Shares (the "Placing") to raise approximately £35 million before expenses to fund a proportion of the Acquisition, the balance of the consideration being provided by Chesnara's cash resources
· The Acquisition and the Placing are expected to immediately enhance Chesnara's EEV per share, on completion of the Acquisition ("Completion"), by approximately 2.2%

more...

What's that a buy? http://www.moneyam.com/action/news/showArticle?id=4983381

Yes - above 6% and from 7,213,898 -> 7,729,369.

Thought so but not certain, thanks.

Final Results

A year of solid delivery on our core strategic objectives

Chesnara today reported results for the year ended 31 December 2014. The Group remains committed to delivering competitive returns to both its shareholders and policyholders, and continues to focus on:
· the core business of maximising value from the in-force life and pensions book.
· value enhancement through writing profitable new business in Sweden.
· making further life and pensions acquisitions where they meet stringent assessment criteria.

Financial Highlights

· Gross cash generation of £42.6m (2013: £49.7m). Cash is generated primarily from the UK business, which has remained resilient to falling bond yields in the year.

· Net cash generation of £71.1m (2013: £36.7m). Net cash generation includes a benefit of £27.4m arising from the Part VII transfer of Protection Life.

· 2.9% increase in total dividend compared with 2013. Recommended final dividend of 11.98p per share results in total dividend for the year of 18.40p per share (2013: 17.88p per share). 2.9% increase represents the tenth successive rise in annual dividends.

· EEV of £417.2m (2013: £376.4m). Growth of 10% driven by earnings of £44.2m and December 2014 equity raise of £34.5m, offset by dividend payments of £20.7m and Swedish Krona exchange losses of £17.3m.

· IFRS profit before tax of £28.8m (2013: £60.6m). Reduction compared with 2013 primarily driven by significant reduction in Government bond yields over the year.

· EEV earnings net of tax of £44.2m (2013: £82.7m). Strong 2014 result shows continued value emergence, albeit at a lower level than 2013, largely due to impact of fall in Government bond yields in the year.

· 23.6% increase in Movestic EEV new business contribution to £8.9m. Increase driven by a combination of higher volumes of new policies sold and improved margins.

· Group solvency ratio increased to 284% (2013: 194%). Increase is driven by regulatory earnings and equity raise. An element of the increase will reverse on completion of the Waard Group acquisition in 2015.

· Subsidiary solvency ratios remain strong and above internal targets. CA plc at 176% (2013: 218%); Movestic at 376% (2013: 311%).

Operational Highlights

Value from the in-force book
· Part VII transfer of Protection Life into Countrywide Assured completed. Transfer completed in line with planned timeframe and has delivered expected capital efficiencies. Transfer enabled a one-off cash transfer of £27.4m.

· Extension of core outsource contract with HCL. Contract extension has enhanced operational and financial security of the Group.

New business
· Management actions taken to enhance the profitability of new business. Enabled by the delivery of new policyholder funding structures and "white labelling" initiatives.

Acquisitions
· £34.5m of equity raised following announcement to make value-adding Waard Group acquisition. Waard Group is strongly capitalised and should generate attractive financial returns. The acquisition adds a third territory and provides a platform that will enable further acquisitions in the Dutch and continental European markets. It remains subject to Dutch regulatory approval.

· Value enhancing acquisition opportunities in the UK and Western Europe, principally in the £50m - £200m range, continue to be sought and examined.

Culture and values
· Group's regulatory compliance record remains robust.


more....

Another sudden collapse in the share price today. Now sitting at its 12 month support level. I wonder what caused today's share price action.

No idea LG but the turn of the year seems a good entry point for these after looking at the previous 5 years chart history.

Trading Update http://www.moneyam.com/action/news/showArticle?id=5156594 A steady as we go sort of report from a quick scan IMHO.

One to watch for the next 3 weeks this one.

Limit tripped out today on this one.

Statement re Legacy Review.

RNS

RNS Number : 9254Q
Chesnara PLC
03 March 2016

Chesnara plc

("Chesnara" or "the Company")
Legacy Review

We note today's FCA announcement relating to the launch of an investigation into whether disclosure of paid up and early transfer charges to the customers of Countrywide Assured and other providers was adequate to enable those customers to make informed decisions.

We will of course co-operate fully with the FCA in its investigation. We also note that no conclusion has yet been reached as to whether there have been any breaches of regulatory requirements.

Ameriprise Financial, Inc. and its group go above 12% http://www.moneyam.com/action/news/showArticle?id=5232101

11 Mar 16 Canaccord Genuity Buy 309.00 380.00 380.00 Reiterates

380p, Yes please, when though that's the question.

Finals http://www.moneyam.com/action/news/showArticle?id=5267677

Great results and yet another dividend increase.

Seems so your madge, and if the FCA's investigation is concluded in a positive way I expect the SP. to climb further then the 5% today so far.

Panmure Gordon Buy 322.88 395.00 395.00 Retains