Goshawk Insurance Share Discussion Threads

[effortless cool] 29/12/2005 09:02

Volume leaders today! 15m traded at average 5.5p. Looks like 7.5m sold and 7.5m bought. Who's buying?

[effortless cool] 23/12/2005 08:40

harry - I refer you to post 122 by AlexAndrews.

[harry punter] 23/12/2005 08:38

looks like this may aome possible potential as a shell vehicle --any thoughts here punters ?

[effortless cool] 23/12/2005 07:41

vinitraj - Alex is giving you good advice, please heed it.

[handycam] 22/12/2005 22:30

Share price behaviour looks very much like suspension looming, in my experience.

[alexandrews] 22/12/2005 15:48

vinitraj,

Your questions should be answered by reading the header of this thread in conjunction with the RNS statements of the last few months. If it's still not clear after that, perhaps the stock market isn't for you?

All the best,

Alex

[handycam] 22/12/2005 15:13

Dear Vini,

See Independent Insurance PLC files for an explanation of assets and fundamentals.

Yours etc.,

[vinitraj] 22/12/2005 13:01

I am new to this thread. With some cash (I know that cash is reducing in last 4 years) and investment assets, why the price is going down? As of now they are not running out of cash as I can see in Fundamentals, so I am surprised to see the price continue to fall.

Any updates will be very useful

Thanks

[alexandrews] 22/12/2005 12:34

Fair enough 8-)

[paddyfool] 22/12/2005 12:20

figure of speech I think! buy at a quid sell for pennies!

[alexandrews] 22/12/2005 12:11

handycam, how do you know they bailed at 2p? Couldn't find anything like that in the trade logs over the last few days...

[neilrr] 22/12/2005 12:04

What did L & G buy them at?

[handycam] 21/12/2005 17:04

Surprise, surprise. Legal & General tip the boat out at 2p per share. These genii prove how adept they are making sure people's endowments fail to pay off mortgages.

[effortless cool] 21/12/2005 06:46

On 28 November, GOS stated that it would not have enough working capital, even after selling the Rosemont renewal rights. But we haven't heard anything further about the proposed equity issue mentioned in the 18 November RNS.

It's now too late to raise cash in 2005. How are they going to pay for their run-off reinsurance? How are they going to fund premium repayments arising from the triggering of downgrade clauses?

Time is running out.

EC

[handycam] 02/12/2005 21:04

The correct thread, if you please.

[Abuse team] 02/12/2005 00:13

Post removed by ADVFN

[pomp circumstance] 29/11/2005 07:28

BUST!!!!!!!!!!

[effortless cool] 28/11/2005 20:34

Anatole,

The terms of the deal ($12.5m up front) are certainly better than those announced on 24 October ($2.5m up front, $4m-7m 2006), so the new management is off too a good start ...

... but ...

... shareholders are now looking at the prospect of:
(a) paying in more funds to avoid administation;
(b) delisting; and
(c) waiting years while the banks take their share and the reserves work their way to ultimate before finding out if they are going to get any money back.

Quite why this situation caused the share price to rise today is a mystery to me.

EC

[knowing] 28/11/2005 14:06

The Company is of the opinion that, taking into account bank facilities
available to it and the net proceeds of the Proposed Sale, the Continuing Group
does not have sufficient working capital for its present requirements that is,
for at least the next 12 months following the publication of the circular to be
sent to Goshawk Shareholders.


Read the last paragraph too.

[anatole] 28/11/2005 13:59

Cool
Thanks for your balanced view on Alea.
What do you make of todays GOS announcement?

[handycam] 24/11/2005 09:25

The Wellington statement requires maths on our part. Their increased losses for Katrina from the notification given on October 5 is 60% and for Rita it is 50%. They have called in a lot of re-insurance to get the figure as low as that.

GOS said on October 7 the respective losses were $60m and $30m. Does one be generous and call them $70m and $40m, an uplift of $30m?

If this were so, then the maximum payable at the end of run-off would indeed be 5 pence per share.

Yours etc.,