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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Novae Grp | NVA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 714.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 714.00 | 714.00 |
| Top Posts |
|---|
Posted at 20/12/2015 21:20 by tintin82 Catching up on various publications over the weekend and see Shares have a very positive article on M&A focussing on Novae.The sell-off in Lancashire’s (LRE) shares in early December 2015 may have prompted some investors to believe it could be next in line if a predator takes advantage of share price weakness. We don’t share this view, instead believing Novae (NVA) is the most likely of the four Lloyd’s underwriters left on the stock market to receive a bid. Buy at 869.5p. |
Posted at 14/9/2007 08:27 by 18bt I think we will need dividend payments to resume to get to 50p, but 40-45 look reasonable before Xmas. Pretty good result given exposure to UK floods. An undervalued share in an undervalued sector in a possibly undervalued market - good combination.Risk on prior years now much reduced simply because the number of open claims has nearly halved, but still some Worldcom claims- a name that investors won't like. |
Posted at 14/9/2007 07:45 by welsheagle Novae Interim ResultsInterim Results Novae Group plc Results for the six months ended 30 June 2007 Highlights * Operating profit excluding FX effect on non-monetary items £22.4 million (2006: £22.7 million) * Profit before tax £17.7 million, up 22% (2006: £14.5 million) * Investment income £19.6 million, up 53% (2006: £12.8 million) * Reserves releases £12.7 million (2006: reserve deterioration £1.6 million) * Net assets per share 34.8p, up 12% (2006: 31.1p) * Net tangible assets per share 33.9p, up 12% (2006: 30.0p) * £100 million inaugural sterling bond issue; banking facilities extended * New UK facilities and international general liability teams * Exceptional provision usage £3.9 million, down 43% (2006: £6.9 million) Matthew Fosh, Chief Executive, today said:"Novae has had a successful first half. Underwriting has been profitable across all areas of the business. Our inaugural bond issue was well received by investors. Usage of the exceptional provision fell as older claims are settled. Although the competitive environment is more challenging, we remain upbeat for the year as a whole." |
Posted at 10/1/2007 07:49 by 18bt Confident statement from Amlin on renewal rates today agrees with what most in the market are saying about 1/1/07 renewals. Novae in direct classes which are more likely to be under pressure, but the PI cycle should start trending up soon. Have not seen anywhere that we are expecting a trading update, but will be a good sign of normalising of investor relations if they put one out. |
Posted at 11/11/2006 00:56 by jancarl1 OK. Now the Moody's outlook I would rate as material, because highly leveraged as it is, a positive rating change in this business hits the bottom line fast and solid. This adds one more lever to the equation:1. solid rate increases in 2006 2. No major desasters to hit the combined ratio 3. Interest rates rising to boost investment income Just like everyone else in the sector. Add some share specifics: 4. Provisioning levels bottoming out (releases possible) 5. New business line on track to provide earnings growth in 2007 6. Cost of capital to come down in 2007 due to rating improvement 7. Dividends to recommence in 2007 quite likely 8. M&A activity in the sector focusing on underperformers 9. Underperformance against the sector 10. Big institutional investors as major shareholders I guess I agree with you vikcom. |
Posted at 10/11/2006 17:06 by 18bt This will help: Friday 10th November 2006: 16:21 Moody's Investors Service has changed the outlook of the A3 Insurance Financial Strength Ratings of Lloyd's syndicates 1007 and 2147 - Novae Syndicates Limited -- to positive. The company said this was due to the improving overall aggregate financial position of the Lloyd's and strengthened Lloyd's Central Resources, as well as the syndicates' existing stand-alone credit fundamentals. Moody's stated that the group's position has been affected by reserving issues on discontinued US Casualty business. The group's gross underwriting leverage (gross premiums written and gross loss reserves relative to shareholders' equity) remains material. However, reserving adjustments on discontinued business have been declining in recent years, as confirmed in Novae's press release of 9th November 2006, and have been offset by returns from continuing business. |
Posted at 20/10/2006 18:51 by bammmy Many thanks, that's exactly the kind of answer I was NOT looking for, pretentious help like that is of no use and probably the reason the small time investor does not write in to forums like this. I said I was a small time invester, not a fool.I hope other people read this for advice and see the answer to a straight forward question, without having their integrity brought in to question! |
Posted at 29/3/2001 20:29 by nulliusinverba Sorry for delay in answering. As thebullman notes, a new, welcome , and not unexpected development. PRESS ANNOUNCEMENT 29/3/01 Findel plc notes the offer announced on 27 March 2001 on behalf of Ovaran plc, a company funded by Alchemy Partners, for Novara plc. Findel plc is contemplating making an offer for the entire issued share capital of Novara plc and is currently progressing due dilligence. A further announcement will be made in due course. Reply from Novara plc 29/3/01 Novara plc notes that Findel plc is contemplating making an offer for Novara plc and is currently progressing due dilligence. The INDENDENT DIRECTORS of Novara plc will make an announcement following clarification of the position. My notes...1/ Findel plc is a successfull growth company in the same sector as Novara. Findel has a market capital of £161.5 Mill., and posted pre tax profits of £18.4 Mill. on 31/3/2000. Novara would make a good fit. 2/ Novara is not a dot.com co. but a recently profitable company, in a profitable sector, which has at the moment an all time record sales book. 3/ The company operates in a secure market, with sales practically gtd.by increased govt. spending which is unlikely to decline. 4/ Novara requires proven good management, which Findel could supply. 5/ Peter Webb of Eaglet Investment Trust is heavily involved, I have great respect for him, and his abilities to put a deal together.He described the management offer as derisory, so I would hope for a new offer to be at a decent premium to the present share price. 6/ I would bet my socks, as well as money, that Webb has been instrumental in alerting Findel to the position regarding Novara, and is helping to promote a sale. In answer to your question, I did not intend to ramp the stock, but simply to alert investors to an opportunity for profit. I can only honestly say that Novara is worth what someone thinks it worth, Peter Webb, and my humble (that will be the day) self, think more than 28p.I have allready made a positive decision a short while ago, and am sitting on a paper profit, however I hope and expect that to increase signicantly. Regards and good luck. |
Posted at 28/3/2001 14:22 by nulliusinverba Interesting developments at the moment.The story so far:-- Novara, the largest supplier in the country, of educational books etc to schools, and educational establishments, was swanning along quite happily, safeguarded by increased spending on education by the govt. Year 2000 profit was M £5.5. The management decided to spend about M £12.5 on a new computer system to modernise stock control, delivery, etc. The system turned out to be a complete disaster, causing all sorts of problems, not the least from an investors point of view, a crash in the share price. Yesterdayday the mid price was 27p. To-day it stands at 28.5p. The management did the right thing and fell on their swords, and new management were installed to sort things out. During this time sales continued, and are still continuing to rise. With the goverment throwing money into education this company shouldn't really be able to miss. The new management have it seems, also concentrated on sorting out a deal for themselves, and yesterday, 27-3-01, offered a paltry 28p a share in an attempted MBO. A shareholder who was even slightly cynical, might describe this as a very opportunist act by directors whose first duty should be to the company shareholders. Now, in comes Eaglet Investment Trust, manager Peter Webb, who owned 6.104% of Novara, He is reported as being outraged, descibing the offer as derisory, and stated that Eaglet were not consulted, and yesterday immediately purchased a further m3.5 shares, taking Eaglets holding to over 10%, therebye making it imposible for the offer to go unconditional. Very heavy volume of trading to-day. As I say, very interesting......... |
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