Just Retire. Share Discussion Threads

[alanrex] 08/12/2008 10:58

does anyone know the timeframe of a bid?

[masurenguy] 08/12/2008 08:05

Still no news on any potential bids but both Invesco and Oxburgh continued to add to their holdings last week !

[alanrex] 01/12/2008 11:42

and again oxburgh are continuing to increase their position..

[masurenguy] 28/11/2008 14:54

Can only buy a maximum of 500 shares online !

[alanrex] 27/11/2008 16:23

and oxburgh are continuing to increase their position..

[masurenguy] 27/11/2008 11:53

Share price has drifted down by 13% over the past two weeks on fairly light volume mainly due to the absence of any further newsflow.

[alanrex] 26/11/2008 11:27

I did a google search and these guys have had a great October and YTD performance according to the search results. Hopefully theyre continuing this with this stock!

ive topped up. Short term - hopefully taken out, long term should be fine anyway!

all imo dyor

[masurenguy] 26/11/2008 11:22

I wonder if it is just speculative or whether they have reason to be confident that a deal will be subsequently concluded !

[alanrex] 26/11/2008 11:05

not sure if anyone has noticed but Oxburgh Partners and Invesco have been increasing their position in the stock if I have read the share updates correctly...?? very interesting...

all imo dyor

[alanrex] 24/11/2008 08:05

warrantty, i agree. I suspect though, this will be taken out.

[warranty] 20/11/2008 18:59

Really not bothered if they sell or not, this will come good anyway and there's probably more gain to be had longer term from a recovery than short term from a buyout.

[masurenguy] 11/11/2008 16:42

Some profit taking today after yesterdays rise. Further price movement over the next few days will most likely be driven by newsflow. It will be interesting to see whether any of the larger corporate insurance companies throw their hats in the ring !

[alanrex] 10/11/2008 16:33

in for 5k.

Very interesting business model, and underlynig long term growth fundamentals are very good. Would not be surprised if several bidders are interested and eventual price is closer to 120-150p. all imo dyor.

[mdchand] 10/11/2008 15:00

More background info........

Analysts predict larger UK life offices could circle Just Retirement
Leah Milner - 10-Nov-2008

Analysts have predicted larger UK life offices such as Legal & General, Aviva and Prudential could be interested in buying Just Retirement, following news that the company has received expressions of interest.

Panmure Gordon & Co analyst Barrie Cornes said in a note today that he was surprised venture capital group Langholm Capital would want to sell its 52 per cent stake in the firm in the current market as the company's share price has fallen 78 per cent over the past year.

In a stock market alert today, following speculation in the weekend press, the life office says discussions are at a very preliminary stage and that it is not yet certain an offer will be made.

The company's share price rose more than 50 per cent in morning trading from 48.5p to 75p. Just Retirement floated on the stock market in 2006 at 148p a share.

The Sunday Times reported that the quoted insurer, which specialises in enhanced annuities and equity release, is hoping to net £300m through a sale.

Deutsche Bank has been appointed to field bids and Cinven, which recently acquired Partnership Assurance for £160m, is rumoured to be interested in bidding, although the company declined to comment.

Just Retirement's chief operating officer Patrick Gale resigned in October.

[powwow] 10/11/2008 12:14

Life insurer Just Retirement has jumped 52% to 73.25p after the company confirmed it had received a number of approaches which could lead to a bid. Panmure Gordon said:

"Just Retirement confirms that it has received expressions of interest for the
business, following yesterday's Sunday Times piece that said 52% shareholder Langholm Capital has put the business up for sale. The suggested price at £300m or 102p/share, considering it includes control
premium seems about right. We have increased our recommendation from
hold to buy and increased our target price from 75p to 100p given that the
business is effectively in play."

[alanrex] 10/11/2008 11:59

surely the difference though is the long term growth fundamantals?

[fishymarketpothesis] 10/11/2008 11:53

Given that most life insurers are currently valued at a large discount to EV, it is interesting that the market thinks a buyer will pay £220m for a company with EV of £150m.

Any thoughts anyone?

[alanrex] 10/11/2008 10:37

shame i missed it early on!

[chesty1] 10/11/2008 10:24

Anyone getting in 1st thing this am has done nicely already...

Well done early birds.

[spob] 10/11/2008 07:08

Just Retirement Statement re Possible Offer

Statement re. possible offer

The Board of Just Retirement notes the recent press speculation and confirms that it has
received expressions of interest which could
ultimately result in an offer for the Company.

Discussions are at a very preliminary stage and there can be no assurances that an offer
will be made, nor as to the terms on which any
offer may be made.

[davidosh] 09/11/2008 13:05

The earnings per share were just 2.4p last time....no wonder it has collapsed.

What is the story here that suggests earnings will grow substantially and why did it get to £3 ? Has it been misunderstood and would a bid really get backing ? There could be a temporary and false rally if no bid follows.

What are the forecasts for this year and are they achievable in this market for financial products ? Why is the yield so low if income is there as most insurers pay handsome divis ?? Something feels wrong here !

[masurenguy] 09/11/2008 09:29

Looks like JR could be in play. Wonder if other PE Groups or Financial Services companies might also show some interest. A £300m price tag would value the shares at circa £1. Be interesting to see market reaction tomorrow !
..............................................................................

From The Sunday Times
November 9, 2008

Insurer seeks £300m sell-out
Iain Dey

A QUOTED insurance company that specialises in selling pensions to obese smokers has been put up for sale by its biggest shareholder, in a move that is expected to value it at £300m – roughly double its market value. Just Retirement, which also sells products to allow the elderly to take value out of their homes, has appointed Deutsche Bank to handle the sale. Cinven is believed to be among those interested in bidding. The private equity group bought Partnership Assurance, a similar business for £160m in June.

Just Retirement floated in November 2006 at 148p a share, in a move that created a paper fortune of £44m for the group's founder Mike Fuller. The shares surged, peaking at more than 300p in the middle of last year. Since then, however, they have fallen steeply and closed on Friday at 48½p. Venture-capital group Langholm, which owns 52% of the firm, is believed to have appointed Fenchurch Partners as an adviser. All parties refused to comment.

[masurenguy] 14/10/2008 13:58

Looks like someone is unloading ! A 25k sell earlier today and then a series of 3k sells since 1.00pm. I wonder whether this has this got anything to do with Gale's recent departure or coud it be a distressed seller with margin calls elsewhere !