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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Esure | ESUR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 279.60 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 279.60 | 279.60 |
| Top Posts |
|---|
Posted at 02/12/2018 10:01 by speedsgh Update on Recommended Cash Acquisition - Next steps and timetable The Scheme remains subject to sanction by the Court at the Scheme Court Hearing (expected to take place on 17 December 2018), the delivery of a copy of the Court Order to the Registrar of Companies and the satisfaction (or, where applicable, the waiver) of the other Conditions to the Scheme (as set out in the Scheme Document). Subject to the Scheme receiving the sanction of the Court, the delivery of a copy of the Court Order to the Registrar of Companies and the satisfaction or, where applicable, the waiver of the other Conditions, the Scheme is expected to become effective on 19 December 2018. The expected timetable of principal events for the implementation of the Scheme is set out below. If any change to the key dates and/or times set out in the timetable are made, esure and Bidco will give notice of this change by issuing an announcement through a Regulatory Information Service and by making such announcement available on esure's website at hxxps://www.esuregro Event -- Time and/or date(1) Scheme Court Hearing -- 17 December 2018 Last day of dealings in, and for registration of transfers of, Shares -- 18 December 2018 Scheme Record Time -- 6:00 p.m. on 18 December 2018 Suspension of dealings in and disablement in CREST of Shares -- 6:00 p.m. on 18 December 2018 Effective Date and time of the Scheme -- By 8.00 a.m. on 19 December 2018 Cancellation of listing of Shares -- By 8.00 a.m. on 19 December 2018 Latest date for despatch of cheques and crediting of CREST accounts for cash consideration due under the Scheme -- 2 January 2019 Long Stop Date -- 14 February 2019 |
Posted at 15/8/2018 13:14 by speedsgh Early bonus for Esure investors, says Hargreaves - Esure (ESUR) shareholders will see the benefits of improvements at the insurer earlier than expected following a £1.2 billion offer from Bain Capital, says Hargreaves Lansdown. While the insurer yesterday reported a 20% fall in first-half profit before tax, investors were still basking in the glow of Tuesday’s 280p-per-share offer from Bain Capital. The shares were trading at 277.4p yesterday, up 35% since the start of the week. Analyst Nicholas Hyett said the offer’s ‘sizeable premium to market price’ meant ‘Esure will in all likelihood be leaving the stock market soon’. ‘With scope to improve the Esure and Shelia’s Wheels brands, as well as further improvements in underwriting, we can see the attractions for Bain,’ he said. ‘For shareholders, the deal means the benefits of those improvements will be landing in bank accounts a little earlier than expected.’ |
Posted at 15/8/2018 00:51 by masurenguy "The insurance entrepreneur Sir Peter Wood is staying on as chairman of Esure and taking a £50m bet on the future of the company he founded as it confirmed it had agreed to accept a £1.2bn offer from Bain Capital, the private equity investor. Sir Peter is selling most of his 31% stake, taking £310m in cash, but in a deal exclusively arranged for him, will roll over £50m of his investment into shares in the private holding company created to own Esure in future. The independent directors of Esure recommended that shareholders accept the offer, which has been structured as a scheme of arrangement, requiring 75% shareholder approval. Toscafund, the private equity group that owns 17% of the business, has also undertaken to accept the offer, which represents a 37% premium to the price prevailing just before talks were revealed. Other leading investors are Investec, Jupiter and Miton."Complete article: |
Posted at 27/10/2017 08:33 by masurenguy Quote from the above referenced TMF article."eSure is tipped by City analysts to flip from an anticipated 5% earnings decline in 2017 to report a 13% improvement in 2018. And this is expected to push dividends northwards again then, from a reduced 12.5p per share in the current period to 14.4p. These projections yield a very-decent 4.6% and 5.2% respectively. I am convinced eSure should prove a brilliant bet for growth and income investors now and in the future." |
Posted at 18/9/2017 12:45 by masurenguy "Shares in motor insurer Esure have charged ahead of the wider market over the past year, gaining nearly 40% excluding dividends year-to-date. And this morning, the shares have added another 6% after a report published over the weekend suggested that the insurer’s biggest shareholder, Peter Wood was looking to sell his 30.8% stake in the firm. This report has sparked speculation that Esure could fall prey to a larger peer after Wood offloads his stake. According to the Sunday Times, which broke the story, Wood has already been approached by other insurance company bosses about a potential deal, and he believes he can have a deal in place by next month.Chances of a takeover It’s hardly surprising that Esure is being touted as a potential takeover target. The company is on track to nearly double revenue over the space of seven years, from £512m in 2012 to an estimated £900m for 2018. That said, profit during this period has remained stable. Still, the company has proven itself as a dividend champion since its IPO in 2013 having paid out 55p per share in regular and special dividends since 2013, around 18% of its IPO price. Analysts have pencilled in a dividend payout of 12.5p for 2017, giving a dividend cover ratio of 68%. Esure’s interim results showed that at the end of the first half the company had a solvency coverage ratio of 153%, indicating that the firm’s balance sheet is strong enough to support further generous payouts. Esure’s strong balance sheet and record of steady cash distributions makes the company an attractive target for both peers and investors alike. While you should never buy a company just because it’s a rumoured takeover target — in case the deal never materialises — as a standalone business, Esure is an attractive investment in its own right. With a prospective dividend yield of 4.7% and forward P/E of 14.7, the company looks like an attractive income and growth play to me at current levels. The prospect of a takeover is just a bonus." |
Posted at 13/9/2016 08:32 by masurenguy RNS Number: 6197Jesure Group plc 13 September 2016 Proposed demerger of Gocompare.com Rationale for the Demerger: On 7 June 2016, the Board of esure announced a strategic review of Gocompare.com. As part of this strategic review, the Board has evaluated options to maximise the potential of both businesses and has concluded that the Demerger is the preferred option. The Board believes that the Demerger has the potential to deliver enhanced business growth and performance over time, and therefore shareholder value, by: -- Creating two separately listed and focused groups, a leading UK provider of motor and home insurance and a leading UK price and product comparison website; -- Improving Gocompare.com's ability to attract and retain technology focused senior managers, who would join a stand-alone entrepreneurial digital technology business; -- Allowing the separate esure and Gocompare.com management teams to focus on pursuing their strategies independently; -- Enhancing the ability of esure and Gocompare.com to align senior management incentives with the performance of the standalone business rather than the combined Group; and -- Optimising esure and Gocompare.com for the relevant regulatory environments within which they operate and enabling each group to operate with an appropriate capital structure. It is intended that Gocompare.com will be a premium listed company on the London Stock Exchange and that, on listing, the shares of Gocompare.com will be distributed to esure shareholders through an interim pro-rata dividend in specie. Costs arising from the Demerger are anticipated to be ca. GBP19m. Capital Structure Prior to the completion of the Demerger, it is intended that Gocompare.com will draw down on a new GBP75m debt facility and pay esure a cash dividend in the region of GBP63m. The cash dividend will cover the fees associated with the Demerger incurred by esure and provide additional headroom above the Group's solvency capital requirements ("SCR"). The esure Board has considered the risk appetite of the Group as part of the exceptional Own Risk and Solvency Assessment process under Solvency II. In light of the new Group composition, the esure Board believe an appropriate level of capital coverage of its SCR to be in the region of 130-150%. The capital surplus above the SCR provides sufficient headroom to absorb adverse capital events and should enable the Group to continue to meet its regulatory capital requirements which are unchanged post the Demerger. It is expected that the Group will initially operate in the middle to upper end of the range, providing flexibility to fund further profitable growth. Following the Demerger, the Board does not intend to amend the current esure dividend policy, which targets a base dividend of 50% of underlying profit after tax and in addition a further special dividend, if the Group has sufficient capital and distributable reserves, after allowing for an appropriate buffer and future growth. The fees associated with the Demerger will not impact the Group's 2016 final dividend and will be adjusted for in the Group's 2016 underlying profit after tax. Timetable Further details in relation to the proposed Demerger will be provided in shareholder documentation which is expected to be posted to shareholders on or around 11 October 2016. The Gocompare.com management team will provide an analyst and investor briefing to present their plans for the Gocompare.com business in more detail. The briefing will take place on the day shareholder documentation is posted to shareholders. The proposed Demerger is conditional on esure shareholder approval as well as relevant regulatory approvals, and subject to those approvals, is expected to occur in Q4 2016. |
Posted at 29/5/2015 15:09 by speedsgh Can't see anything apart from this...Investment analysts at JPMorgan Chase & Co. lifted their target price on shares of Esure Group PLC (LON:ESUR) from GBX 280 ($4.33) to GBX 299 ($4.63) in a note issued to investors on Thursday. The firm currently has an “overweight |
Posted at 08/12/2014 16:06 by masurenguy RNS Number : 0530Z08 December 2014 esure Group plc's proposed Acquisition of the remaining 50% of Gocompare for £95m esure Group plc ("the Group") today announces that it has conditionally agreed to acquire the outstanding 50 per cent. of Gocompare.com Holdings Limited ("Gocompare") for a consideration of £95m, increasing its holding to 100%. ("the Acquisition"). The Acquisition is subject to Competition and Markets Authority approval. Funding The Acquisition will be funded by an issuance of up to £125m of dated ten year tier two subordinated notes. Deutsche Bank AG, London Branch, has been appointed to act as sole lead manager and sole book runner. Stuart Vann, Chief Executive Officer, and Darren Ogden, Chief Finance Officer, will commence a debt marketing roadshow with fixed income debt investors later this week and the Group expects to announce the final terms of the placement in due course. Solvency Capital Following the Acquisition of Gocompare, the Group's capital ratio under the current regime will improve modestly as the notes will qualify as lower tier II capital under Solvency I, restricted to a maximum value of 25% of the minimum capital requirement. The Group's capital position will be strengthened under Solvency II as tier II debt will be permitted as qualifying capital up to a maximum value of 50% of the solvency capital requirement. |
Posted at 12/11/2014 10:32 by bikeaholic An interesting article from Michael T. Snyder - Not for the faint hearted!"The parallels between the false prosperity of 2007 and 2014 are rather striking. If we go back and look at the numbers in the fall of 2007, we find that the Dow set an all-time high in October, margin debt on Wall Street had spiked to record levels, the unemployment rate was below 5 percent and Americans were getting ready to spend a record amount of money that Christmas season. But then the very next year the worst economic crisis since the Great Depression shook the entire planet and everyone wondered why most people never saw it coming. Well, now a similar pattern is unfolding right before our eyes. The Dow and the S&P 500 both hit record highs on Monday, margin debt on Wall Street is hovering near record levels, the unemployment rate has ticked down a little bit and Americans are getting ready to spend more than 600 billion dollars this Christmas season. The truth is that the economy seems pretty stable for the moment, and most people cannot even imagine that an economic collapse is coming. So why are so many really smart people forecasting economic disaster in the near future? For example, just consider what the Jerome Levy Forecasting Center is saying. This is an organization with a tremendous economic forecasting record that goes all the way back to the Great Depression. In fact, it predicted ahead of time the financial trouble and the recession that would happen in 2008. Well, now this company is forecasting that there is a 65 percent chance that there will be a global recession by the end of next year... In 1929, a businessman and economist by the name of Jerome Levy didn’t like what he saw in his analysis of corporate profits. He sold his stocks before the October crash. Almost eight decades later, the consultancy company that bears his name declared “the next recession will be caused by the deflating housing bubble.” By February 2007, it predicted problems in the subprime-mortgage market would spread “to virtually all financial markets.” In October 2007, it saw imminent recession -- the slump began two months later. The Jerome Levy Forecasting Center, based in Mount Kisco, New York, and run by Jerome’s grandson David, is again more worried than its peers. Its half-dozen analysts attach a 65 percent probability of a worldwide recession forcing a contraction in the U.S. by the end of next year. Could they be wrong? It's certainly possible. But I wouldn't bet against them. John Hussman is another expert that is warning of financial disaster on the horizon. He believes that we are experiencing a massive stock market bubble right now and that stocks are approximately double the value that they should be... If you look at corporate profits and especially corporate profit margins, they're one of the most cyclical and mean-reverting series in economics. Right now, we have corporate profits that are close to about 11% of GDP, but if you look at that series you will find that corporate profits as a share of GDP have always dropped back to about 5.5% or below in every single economic cycle including recent decades, including not only the financial crisis but 2002 and every other economic cycle we have been in. Right now stocks as a multiple of last year’s expected earnings may look only modestly over valued or modestly richly valued. Really if you look at the measures of valuation that are most correlated to the returns that stocks deliver over time say over seven years or over the next 10 years the S&P 500 in our estimation is about double the level of valuation that would give investors a normal rate of return. Could you imagine the chaos that would ensue if stocks really did drop by 50 percent? Well, Hussman says that this is precisely what must happen in order for stock prices to return to historical norms... Right now, like I say, we are looking at stocks that have been pressed to long-term expected returns that are really dismal. But more important than that, in every market cycle that we've seen with the mild exception of 2002, we've seen stocks price revert back to normal rates of return. In order to get to that point from here, we would have to have equities drop by about half. If that does happen, it will make the crisis of 2008 look like a Sunday picnic. Meanwhile, other very prominent thinkers are also warning that an economic nightmare is rapidly approaching. Economic cycle theorist Martin Armstrong foresees major economic problems in 2015 which will ultimately lead to "civil unrest" in 2016... It looks more and more like a serious political uprising will erupt by 2016 once the economy turns down. That is the magic ingredient. Turn the economy down and you get civil unrest and revolution. And of course there are a whole lot of other economic cycle theorists that are forecasting that we are about to experience a massive economic downturn as well. For much more on this, please see this article and this article. What is truly frightening is that we have never even come close to recovering from the last economic crisis. One poll that was taken just prior to the recent election found that only 28 percent of Americans said that their families were doing better financially. In addition, here are some more survey numbers about how Americans are feeling about the economy... According to voter exit polls conducted by CNN, 78% said they are worried about the economy, with 69% saying that, in their view, economic conditions are not good. 65% responded that the country is on the wrong track vs. only 31% who believed that it is headed in the right direction. Even though we are repeating so many of the same patterns that we experienced back in 2007, we are doing so with a fundamentally weaker economy. The last crisis did a tremendous amount of permanent damage to us. For an extensive look at this, please see my previous article entitled "12 Charts That Show The Permanent Damage That Has Been Done To The U.S. Economy". And there are lots of signs that much of the planet is already entering another major economic slowdown. In a recent article, Brandon Smith summarized some of these. He says that we are currently witnessing "the last gasp of the global economy"... Global exports, and thus consumer demand, are plunging. Germany, the only pillar left to prop up the failing European Union, has experienced a severe decline in exports not seen since 2009. China, the largest exporter and importer in the world, and Chinese companies, have been caught in a number of instances using fraudulent invoices to artificially inflate their own export numbers, in some cases reporting 50% more exported goods than had actually existed. China's manufacturing has also declined for the past five months, exposing the nature of its inflated export stats and indicating a global slowdown. The Baltic Dry Index, a measure of global shipping rates for raw goods, and thus a measure of demand for shipping, continues to drag along near historic lows. The U.S. consumer (the only economic asset the U.S. has besides the dollar's world reserve status), has seen declines in spending as well as wages. In the meantime, long term jobless Americans continue to fall off welfare rolls by the millions, making unemployment numbers look good, but the overall future picture look terrible as participation rates dissolve into the ether of government statistics. How is such poverty being hidden? Foodstamps. Plain and simple. Nearly 50 million Americans now subsist on food stamp programs today, and this number shows no signs of dropping. In states like Illinois, two people sign up for food assistance for every citizen that happens to find a job. From time to time, I get accused of "spreading fear" and of being obsessed with "doom and gloom". But that is not the case at all. I actually want our economy to stay stable for as long as possible. Many Americans don't realize this, but even the poorest of us live in luxury compared to much of the rest of the world. It would be wonderful if we could all live out our lives in peace and quiet and safety. Unfortunately, it is simply not going to happen. And it does not take an expert to see what is coming. Anyone with half a brain should be able to see the economic disaster that is approaching. There is hope in understanding what is happening and there is hope in getting prepared. Millions of Americans that are willingly blind to our problems are going to have their lives absolutely destroyed when they get blindsided by the coming crisis. So please use this brief period of relative stability to get prepared and to warn others. Once this false bubble of hope runs out, all of our lives are going to dramatically change." |
Posted at 04/7/2014 11:27 by redsonning I have certainly not found the recent volatility in ESUR to be anything unusual. This is especially so when one takes into account the particularly large dividend which was paid - the market takes some time to adjust after that kind of huge (real) cash reduction to the company even where the cash is known and provided in advance.As for valuation, the reality is that there is no such thing as a correct valuation. Especially when PE ratios are being assessed, one has to appreciate that this is largely a matter of personal opinion and comparison against other companies where, once again, the PE valuation being compared with is really just a matter of opinion. Additionally there are all kinds of reasons why the balance of risk may alter from day to day in any particular share, and we know that there have been concerns about insurance premiums recently. Concerns about premiums or perceptions about insurance risk will have significant impact on a company like ESUR, and one should not be surprised about such movements. In addition there are interest rate perceptions, political risk, as well as wider economic and social factors. I find it worrying that there are investors who take such a simplified view which says this company is worth X pence per share - that is never the case. The market will always ultimately punish such a simplistic approach. One must be constantly vigilant for alterations in price and look to understand what is going on. Sometimes there are reasons to sell, and sometimes there are reasons to buy or to add to holdings. When we get our decision wrong it is because we have failed to understand what is happening and not because the market is wrong in some way. The market has no brain at all - it is simply the resultant price from a range of information and trades, and we as investors need to interpret all of that too. The market is neither right nor wrong - it is simply the market. It is not easy - if it were so then everyone would be millionaires. |
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