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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Brit Ins Hldgs | LSE:BRE | London | Ordinary Share | NL0009347863 | ORD 0.1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 1,075.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 1,075.00 | GBX |
Brit Insurance (BRE) Share Charts1 Year Brit Insurance Chart |
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1 Month Brit Insurance Chart |
Intraday Brit Insurance Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 18/6/2016 | 20:08 | Are you in or out. | 2 |
| 25/3/2011 | 13:18 | BRE | 366 |
| 20/8/2010 | 15:33 | Brit Insurance Holdings plc | 335 |
| 24/1/2010 | 18:11 | THE ABOLISHMENT OF THE BRITISH MONARCHY THREAD | 99 |
| 03/3/2006 | 08:43 | British Insurance | 13 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 17/3/2011 09:26 by crawford Why is BRE up 20, doesn't make sense.The BRE proceeds will come in handy with all the bargains around! |
Posted at 12/3/2011 08:47 by crawford Vulgaris,topvest is correct, payment will be this month. From the 9th March announcement: "As all conditions relating to the Offer set out in the Offer Document have now been satisfied or waived, Achilles is pleased to announce that it has declared the Offer to be wholly unconditional. Accordingly, cash consideration (including the CVP of GBP0.25 in cash per Brit Insurance Share or Brit Insurance DI, as described below) will be paid within 14 days of the date of this announcement to those accepting Brit Insurance Shareholders whose valid acceptances have already been received. Payment of cash consideration (including the CVP of GBP0.25 in cash per Brit Insurance Share or Brit Insurance DI, as described below) in respect of valid acceptances received after the date of this announcement will be made within 14 days after receipt of each such acceptance. " So payment should be received on or before 23rd March. |
Posted at 09/3/2011 16:26 by spob Just do what Tesco did to Tom Hunter when he tried to block takeover of dobbies Sir Tom Hunter ends stand-off with Tesco By Maggie Urry Published: May 21 2008 10:00 | Last updated: May 21 2008 11:20 The stand-off between Tesco and Sir Tom Hunter over Dobbies, which reached the courts last week, appeared on Wednesday to have been resolved with Sir Tom's West Coast Capital agreeing to accept a £12 a share bid for his 29.2 per cent stake in the garden centre business. Assuming the deal goes through Tesco will apply to have Dobbies shares delisted from the Aim market and will compulsorily buy-out any other minority shareholders. Dobbies shares fell 37½p to £11.75 in morning trade. The offer, which values the whole of Dobbies equity at £124.5m would give Sir Tom £36.3m. Dobbies, which was holding its annual meeting on Wednesday, said it would give shareholders its advice on the offer in due course. Tesco acquired 65.5 per cent of Dobbies last year with a bid at £15 a share. But Sir Tom, who had also been interested in buying the business, was left as a large minority shareholder having paid prices from £5 to £18.45 for his shares. He is likely to have roughly broken even on the investment. WCC controls rival garden centre chains Wyevale and Blooms of Bressingham. Tesco said the £12 price, although £3 below last year's bid price, was a fair one reflecting the current state of the market and given that last year it had been paying a premium for control of Dobbies. Last month, Dobbies reported a fall in profits for the year to October, after exceptional charges relating to the takeover. At the annual meeting, Lucy Neville-Rolfe, chairman of Dobbies who is also Tesco's corporate and legal affairs director, said that sales in the first half of the year, to end April, were up 4.5 per cent, but had fallen by 6.8 per cent on a like-for-like basis. Sales in March and April of 2007 had been strong thanks to warm weather. Since the half year end, though, sales had risen sharply, and were up 30.2 per cent in the three weeks to May 18 or 15.8 per cent in comparable stores. The uneasy relationship between Tesco and Sir Tom since the takeover broke into a row last month when Dobbies announced a £150m rights issue, which would have required WCC to invest a further £44m to retain its percentage holding. WCC took the issue to court accusing Dobbies' Tesco-dominated board of riding roughshod over minority shareholders by ceasing dividend payments and using the rights issue to take full control of Dobbies. It asked the court to stop the equity issue. However, the judge found in favour of Tesco. In the aftermath Sir Tom threatened to continue with the legal process, and said he had support from others of the 300 minority shareholders. But he also hinted he would accept an offer of over £12 from Tesco to settle the long-running dispute. Tesco regards the garden centre sector as a growth market and was keen to have full control of Dobbies. At the annual meeting, Dobbies decided to postpone a vote to approve the rights issue to allow shareholders who had applied to take up their entitlement to withdraw their applications. |
Posted at 09/3/2011 13:22 by ursus boros - the offer had to be declared unconditional by the offeror by 10/3 or it wd have lapsed. having done that, it is open to the offeror to extend the date for acceptance, which (as coolie observes) 13% have not accepted. their rights are pretty limited however - really to make a nuisance of themselves by hanging around to share dividends etc |
Posted at 28/2/2011 11:07 by txi I think the buyout price in this current market is acceptable as I would be very suprised if the share price today would be anywhere near the £10.75p offer let alone £11.41p |
Posted at 26/2/2011 13:29 by topvest I agree - 14 days from when wholly unconditional, and it's not gone to that yet. I also think this is a very poor price for a business with a net asset value of £11.41. The business is worth some goodwill. I would be quite happy for the offer to lapse, but that is very unlikely, so it will be the £11 a share before the end of March I guess. |
Posted at 25/2/2011 08:52 by crawford Judging by those results, this is a solid company that I'd be happy to retain :-)We're being shortchanged on the NAV. What will I replace it with? "Profit after tax of GBP110.5m up 26.2% (2009: GBP87.5m) and earnings per share of 142.4p up 25.8% (2009: 113.2p) " Net tangible assets (NTA) per share of GBP11.41 represents growth of 8.5% during 2010 |
Posted at 06/1/2011 16:50 by crawford Interesting that the share price is now above £10.45; I assume that there is a bit of arbitrage going on - obviously someone is expecting some of the additional 25p to be paid. |
Posted at 26/10/2010 08:37 by spob A long wait to hang around for thatMaybe i should take the money now and invest elsewhere Decisions decisions ???? 3. The Contingent Value Payment The Contingent Value Payment of up to £0.25 in cash per Brit Share will become payable to accepting Brit Shareholders if Brit Insurance's audited consolidated net tangible asset value as at 31 December 2010, after adjustment for certain agreed items, is greater than £10.75 per Brit Share (using the Fully Diluted Share Capital, as determined on the CVP calculation date). The full £0.25 per Brit Share will become payable if the Pro-forma 2010 Year End NTAV Per Share is equal to or greater than £11.00. The amount payable reduces on a linear sliding scale to the extent that the Pro-forma 2010 Year End NTAV Per Share is between £11.00 and £10.75. No CVP shall be payable if Brit Insurance's Pro-forma 2010 Year End NTAV Per Share is equal to or less than £10.75. The amount of the CVP will be quantified within a short time frame after the audit of Brit Insurance's accounts for the year ending 31 December 2010. The adjustments which will be applied to Brit Insurance's audited consolidated net tangible asset value as at 31 December 2010 for the purpose of evaluating the Pro-forma 2010 Year End NTAV Per Share include: adding (a) the aggregate amount of the £0.30 Capital Distribution to the extent it has been paid; (b) the net UK corporation tax benefit arising in respect of Brit Shares acquired under the Brit Share Schemes; and (c) the proceeds of the exercise prices of in the money options, and deducting: (a) the aggregate amount of reserve releases since 30 June 2010 which have been released from the reserves existing at 31 December 2009 to the extent that such amount is in excess of £20 million in aggregate; (b) Brit Insurance's fees, costs and expenses of the Offer and any competing transaction and the cost of bonuses relating thereto to the extent not already allowed for in Brit Insurance's audited accounts for the financial year ending 31 December 2010; (c) certain directors' and officers' insurance costs; and (d) a review of the carrying value of the investment in Ri3k Limited. Accepting Brit Shareholders will, pursuant to the terms of the Offer, be entitled to receive the CVP (but only to the extent it is payable). The entitlement to receive any payment under the CVP is non-transferable and no security or certificate will be issued in connection with it. Due to the influence of a number of external factors on the Brit Group, including potential catastrophe losses, foreign exchange rates and investment returns, Brit Shareholders should note that there can be no guarantee that Brit Shareholders will receive the maximum £0.25 per Brit Share, or any payment of the CVP at all. A calculation of the Pro-forma 2010 Year End NTAV Per Share will be prepared by Brit Insurance following the audit of Brit Insurance's accounts for the year ending 31 December 2010, following which Achilles will be entitled to review the calculation (together with supporting documentation) and agree the Pro-forma 2010 Year End NTAV Per Share with the Independent Directors (or, if the calculation is finalised after the Offer becomes wholly unconditional, those Independent Directors who remain on the Brit Board at that date). Achilles and Brit Insurance have agreed that the process for reviewing the draft calculation and agreeing (or, as the case may be, determining) the Pro-forma 2010 Year End NTAV Per Share will be completed within 20 business days of the approval of Brit Insurance's audited accounts for the year ending 31 December 2010 provided that the Offer has become or been declared unconditonal in all respects. Any dispute between Achilles and the Independent Directors in connection with the calculation of the Pro-Forma 2010 Year End NTAV Per Share will be referred to an independent firm of accountants, whose determination will be final and binding. John Barton and Peter Hazell will remain independent directors on the Brit Board and Brit Insurance's audit committee to assist with and approve the CVP determination. Achilles will pay the CVP (to the extent payable) within 14 days of the agreement (or, in the case of a dispute, the determination) of the Pro-forma 2010 Year End NTAV Per Share (or within 14 days of any subsequent acceptance). Further details of the CVP memorandum which sets out the terms, including the agreed adjustments referred to above and the process for determining the CVP, will be set out in the Offer Document. |
Posted at 22/10/2010 12:35 by spob from FT AlphavilleBrit Insurance a rumour is knocking around in that ahead of Monday's bidding deadline Brit Insurance Holdings (BRE:LSE): Last: 1,017, down 1 (-0.10%), High: 1,020, Low: 1,015, Volume: 28.53kNH BRIT INSURANCE (BRE LN) An update on the potential buyout of BRE by Apollo and CVC is expected early next week, writes Deal Reporter. Due diligence had been completed and the process now concerned regulatory issues. The approvals process has taken longer than originally expected, it is understood, though one of the sources said that an additional extension of the deal was unlikely. A deal would be comprised mostly of equity, with some debt funding "around the edges" to account for interim working capital needs, it is understood. I think that's from Merger Market |
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