Castelnau Share Discussion Threads

[cwa1] 10/2/2015 08:51

The Board of Directors has declared a 2014 final dividend of 22 pence per common share (33.5 US cents), payable on 19 March 2015 to shareholders of record on 20 February 2015. Combined with the interim dividend, the total dividend payable for 2014 of 32.5 pence per share
(51.2 US cents) represents a 5 per cent increase compared with the 2013 total dividend. In addition, the Board expects to declare a special
dividend of approximately 12 pence per common share following completion of the sale of ITB.

[enami] 10/2/2015 08:03

GARY - historically, the week after the announcement so I would guess 20 Feb.

[garycook] 10/2/2015 07:22

Anybody know when this goes XD. No mention in the Final results ?

[ganthorpe] 27/1/2015 09:32

Reckon latest potential value for CTG shares is 729p based on XL at $35.64 and $1.51 to £1.
I should get out more
GAN

[jeffcranbounre] 12/1/2015 15:18

Catlin Group is featured into today's ADFVN podcast.

To listen to the podcast click here>

In today's podcast:

- Technical Analyst Nicola Duke will be chatting and charting, Anite, Big Yellow Group, ITE, Union Jack Oil, Afren. Nicola on Twitter is @NicTrades

- And the micro and macro news including:

Quindell #QPP
Afren #AFR
Shire #SHP
ITV #ITV
Taylor Wimpey #TW.
Big Yellow Group #BYG
ITE #ITE
Union Jack Oil #UJO
Anite #AIE
Unite Group #UTG
Pace #PIC
Royal Mail #RMG
Prudential #PRU
Hikma Pharmaceuticals #HIK
AO World #AO.
Betfair #BET
Sound Oil #SOU
Advanced Oncotherapy #AVO
International Airlines Group #IAG
Afren #AFR
Ophir Energy #OPHR
Premier Farnell #PFL
New River Retail #NRR
Victrex #VCT
Catlin Group #CGL

Every Tuesday is Ten Bagger Tuesday on the podcast. If you know of a stock, whose share price has the potential to increase ten fold, just click the link below.



(All it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast).

Once a week, on a Friday, I feature a tip from a listener to this podcast, if you'd like to suggest a stock click the link below:



(Again all it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast).

You can subscribe to this podcast in iTunes by clicking

To follow me on Twitter click

As a listener to the ADVFN podcast you can take advantage of some exclusive first year discounts on popular subscriptions:

Bronze - £50 (normally £73.82/year)
Silver - £145 (normally £173.71/year)
Level 2 - £350 (normally £472.94/year)

Call 0207 0700 961 and ask for the ADVFN Podcast discount to take advantage of these reduced rates or just for more information.

Please DO NOT buy any stock recommended in this podcast basely solely on what you hear. The opinions in this podcasts are just that, opinions. Please do you own research before investing.

Justin

 

 

[enami] 09/1/2015 15:58

Excellent news...my broadband not working since I posted that calculation earlier so a bit surprised to see it over 700 when reinstated. 703 as i Type is enough for me to close half my positions.

[effortless cool] 09/1/2015 15:42

Short XL now.

[effortless cool] 09/1/2015 11:31

They seem to have run the whole process very professionally and kept a tight ship.

Have closed my long now.

[cwa1] 09/1/2015 10:35

Timescale(seems a while but it suits me for CGT reasons!):-

-- The Acquisition will be conditional on, among other things, the

approval of Catlin Shareholders at the Court Meeting and the General

Meeting, receipt of Clearances and the satisfaction (or waiver) of the

other Conditions set out in Appendix I to this announcement. It is

currently expected that the Court Meeting and General Meeting will be

held in the second quarter of 2015, and the Acquisition is expected to

become effective in mid-2015, subject to receipt of Clearances without

delay and to the satisfaction (or waiver) of the other Conditions.

[mr angry] 09/1/2015 10:22

offer now agreed
3.88 cash + 0.13 XL shares per share
+22p final dividend
+12p from ITB sale

values each CGL at 7.26 I think @ $1.515

[cwa1] 09/1/2015 10:19

All good:-

[enami] 09/1/2015 09:44

I see XL group now trading higher than when the offer was made. Currently CGL shares worth just over 50p more than share price plus some more cash to come from the Box sale.

OFFER VALUE FOR EVERY 1000 SHARES
.
1000 @ 1.5114 USD/GBP

£3,047 130 XL SHARES @ 35.42
£4,100 CASH
£7,147 TOTAL OFFER VALUE

£6,640 CURRENT VALUE

50.66 p PER SHARE GAIN


CASH FROM BOX SALE
ASSUMING 50% DISTRIBUTION

SHARES IN ISSUE 362,000,000

CASH FROM BOX SALE £85,000,000

ASSUME 50% DIST £42,500,000

PENCE PER SHARE 11.74


23.48

[enami] 23/12/2014 14:04

Aye £85m between 362m shares is 23.5p per share, optimistically if they distribute half of that then about 11.75p per share hopefully.

[ganthorpe] 23/12/2014 13:46

Plus maybe up to 20p a share from the sale of Box Innovations stake.
GAN

[enami] 22/12/2014 17:17

That was a nice late RNS

DISPOSAL OF INVESTMENT IN BOX INNOVATION GROUP LIMITED

HAMILTON, Bermuda - Catlin Group Limited ( "Catlin" or the "Company", 'CGL';

CICL will receive cash proceeds of GBP85 million from the sale. Subject to relevant Board approvals, the Company expects to distribute to Catlin shareholders the portion of these proceeds that represents the surplus capital arising from its investment in BIGL. Details of any distribution will be announced following Board consideration in early January.

SP should have a little boost tomorrow I think.

Matching the Gain in XL today, I looked at the XL chart, it was $US 98 in 2002 vs 33.86 now

OFFER VALUE FOR EVERY 1000 SHARES

1000 @ 1.5618 USD/GBP

£2,818 130 XL SHARES @ 33.86
£4,100 CASH
£6,918 TOTAL OFFER VALUE

£6,540 CURRENT VALUE

37.84 p PER SHARE GAIN

[dewtrader] 21/12/2014 14:01

hey there was no leak lol

[rcturner2] 18/12/2014 14:06

I bailed at 670p yesterday, took a small discount on the takeout price based on the small chance of failure. Shame really at I think Catlin were building up a good head of steam in the market, but hence the bid I suppose.

[effortless cool] 18/12/2014 10:46

It seems, according to the Insurance Insider, that XL would not need to put this deal to their shareholders for a vote. It represents such a high multiple that I would expect Catlin's institutional shareholders to want it to happen. The main challenge would seem to be whether it can be structured so as to accommodate the egos of the respective Chief Executives.

I'm assuming that it can be, and have gone long Catlin.

[enami] 18/12/2014 10:40

Aye half of my holding is in ISA so happy to sell those above yesterday's intraday high 679.5 and await the remainder.

[cwa1] 18/12/2014 10:32

LOL Enami, precisely what I would like as anything before 6/4 next year is going to give me a headache too!

[enami] 18/12/2014 10:13

Short term holdwrs selling out today I suspect, if you bought below 500 in August then you are 25% ahead, a fair gain for a short hold. It might take a long time for the regulatory process to complete and then another period before the cash was paid, also folks might not fancy holding US registered stock.

The offer worth 64.5p per share more than today's value if you hold on. Personally I would prefer if they completed after April 5 as I am at my CGT limit already.

1000 @ 1.5630 USD/GBP

£2,799 130 XL SHARES @ 33.66
£4,100 CASH
£6,899 TOTAL OFFER VALUE

£6,255 CURRENT VALUE

64.46 p PER SHARE GAIN

[cwa1] 18/12/2014 10:09

No probs. Xmas madness :-) If it had been 610 cash plus the shares I would certainly have had the hoover out!

[richardbroughton] 18/12/2014 09:57

Yes, tempting to buy a few more for a quick 10% because I think this will go through. Will wait to see how XL share price performs over next day or so.