Tellworth British Recove... Share Discussion Threads

[spob] 17/3/2015 10:58

This is the second time I have said goodbye to brit

Kerrrrching $$$$$$$$$

[guernseymoney] 17/3/2015 10:51

Goodbye Brit, hello Lancashire

[fenners66] 26/2/2015 22:10

I am surprised too.

[kefta] 26/2/2015 16:48

I find it strange there are buyers out there willing to pay over the offer price of 305p. I msnaged to sell mine at just over 305p. I wanted to free up some cash I'm interested in taking up VPC IPO they are targeting an 8% yield.

[...]

[topvest] 18/2/2015 20:50

Only just catching up on this. It didn't last long as a re-listed company did it. Must be some sort of record. A good short term return I suppose, but would rather stay invested in this one if I could have.

[kefta] 18/2/2015 09:44

Having bought in September I was expecting a longer ride than this. However, the offer effectively draws a line under the share price and I'm happy to take the profit and move on.

I'm undecided whether to sell or let nature take its cause and wait for the payment. As with comedy the Stockmarket is all about timing, sometimes the hardest thing is to do nothing. With the Greek situation and a pending election I feel we maybe due another fall back before the FTSE eventually breaches the 7000 mark and sails in to unchartered waters.

As others have mentioned I do like the look of LRE and PHNX.

Good Luck All

[this_is_me] 17/2/2015 10:03

Yes disappointing bid price even though I made over 25% in 6 months or so.

[silver tortoise] 17/2/2015 09:09

It's a shame I liked This one good steady growth,bought in at 248 sold up this morning 20%profit.Dont know if that was wise we shall see.I've had CNKS in the past and I know with the QPP a debacle it has taken a downturn but might keep an eye on that one.

[gorilla36] 17/2/2015 08:54

spop - Agree re your comment, absolutely no interest in maximising general shareholder value. Private equity guys sorted, directors sorted. No doubt they will step away for six months and the after enjoying some nice holidays with the share sale will pick up some nice jobs with Fairfax. It was ever thus. I made about 15% in total, but we are never allowed near the big money or more importantly the big decisions.

[fenners66] 17/2/2015 08:53

V11 - I reckon you need to do some more research. No tax for you to pay on dividends on shares in an ISA. There is a notional 10% tax credit but this does not apply , you have missed out on 2.75p

[v11slr] 17/2/2015 08:46

Sold mine @ 302.25, held within an ISA but still 10% tax to pay on dividends. So, 2.5p tax on a dividend of 25p, net return if I waited would be 302.5p, didn't seem worth the wait for a quarter of a pence.

[fenners66] 17/2/2015 08:46

I guess "irrevocable" is the key word here ... so answering my own question.

[fenners66] 17/2/2015 08:46

I guess "irrevocable" is the key word here ... so answering my own question.

[fenners66] 17/2/2015 08:45

I know they have acceptances already - but any chance of anyone else stepping in with a higher bid?

[fenners66] 17/2/2015 08:33

Well there goes my income stock then!
Dividend was set to be in the teens so how does 305 represent value?

[guernseymoney] 17/2/2015 08:31

Can I please ask - are those that hold planning to sell now or wait for divi/buyout?

280p plus dividend of ??

Am not sure what to do...

ps: FT blurb as follows:

Canadian insurance group Fairfax has swooped for Brit, agreeing to pay £1.2bn for the FTSE 250 insurer, less than a year after it was listed on the London Stock Exchange.

The UK insurer remains majority owned by Apollo and CVC, which have been exploring ways of selling their remaining stake. The FT reported yesterday that a sale of Brit was close.

Fairfax has obligingly tabled a 280p a share offer, and existing shareholders will also still receive a 25p cash dividend for 2014. That represents an 11.2 per cent premium on the closing share price yesterday.

The board of Brit has unanimously recommended that shareholders accept the offer, and both Apollo and CVC have signed irrevocable undertakings to sell their shares.

Prem Watsa, the Fairfax chairman and CEO known for contrarian bets on the eurozone periphery like the Bank of Ireland, said:


We welcome Mark Cloutier and his market leading specialty insurance and reinsurance team at Brit to our expanding global specialty platform. Brit has an outstanding track record over the last ten years and will continue to operate on a decentralized basis once owned by Fairfax.

With the acquisition of Brit, Fairfax will have a significant top five position at Lloyd's of London. We look forward to working with Mark and the entire Brit team to further develop their business over the longer-term.

[lord gnome] 17/2/2015 08:10

Bye bye BRIT. Out at 302p. Thank you very much. A very profitable affair. Bought in last May at 238p. Where to reinvest? I'll take a look at LRE. I need the yield. Good luck to you all.

[miti 1000] 17/2/2015 06:55

305p bid...done and dusted

[speedsgh] 17/2/2015 06:42

Overview of recent LRE dividend distributions here...



Slightly more in depth overview here (doesn't cover most recently announced final/special distribution)...

[garycook] 17/2/2015 05:26

Esure,is in Car Insurance.Lancashire Holdings(LRE)643p,is the one to go for Specialising in Global Property,Energy,Marine,Aviation and Lloyds Re- Insurance sectors,and paying around Minimum 9% and currently paying 18.85% because of the recent Special Dividend.Do not go by ADVFN figures,but do your own research.

[lord gnome] 16/2/2015 21:54

Ok then, if we are taken out, what will be the price? Somewhere north of £3 would be nice.

[v11slr] 16/2/2015 21:49

I'd go for Esure.