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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Just Retire. | LSE:JR. | London | Ordinary Share | GB00B1GN8L66 | ORD 0.1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 76.00 | 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 | 76.00 | GBX |
Just Retire. (JR.) Share Charts1 Year Just Retire. Chart |
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1 Month Just Retire. Chart |
Intraday Just Retire. Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 19/10/2013 | 20:40 | Just Retirement life assurance Grp | 298 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
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Posted at 29/9/2009 15:16 by masurenguy Spoke to the company today. The timeframe embraces a circular to shareholders (to be sent in October), followed by 21 days notice for an EGM (which will be in November) and if the deal is then approved by shareholders an application will go before the Court for approval. This means that, subject to shareholders approval, the deal will not be ratified until late November at the earlieast (and possibly December) and payment to shareholders will follow thereafter (sometime in December is my guess). I don't propose to wait another 10 - 12 weeks for payment of an additional 1.5p per share so I have sold out today. |
Posted at 24/9/2009 12:50 by wonder boy Does anyone understand what is going on here? Looking at the announcements from 10th August, JR told us that Avalon have to come in with a bid by tomorrow, 25th Sep! Avalon said on the same day that the deadline was 1st Oct.The JR announcement also stated that they would release full year results before the deadline. This has not happened! Why not??? I think if Avalon walk away the share price could actually increase. So long as the delayed results aren't a problem. And if they don't walk then new investors pick up 9% in a week. |
Posted at 16/9/2009 22:18 by alanrex indeed - surely they wont leave it to the last minute. cant help but feel the absence of a takeover offer would have meant a higher share price given the markets performance over the last few months.... |
Posted at 28/8/2009 16:29 by masurenguy The conditional agreed price of 76p seems cheap to me too BUT a business is ultimately worth what somebody is prepared to pay for it. There is no reason for Avalon to increase their offer unless another party arrived on the scene with a higher bid before the end of next month. Any third party bidder would also have to take care of the penalty clause.The company has been in play for 10 months now and no better bid has been forthcoming during that time so the appearance of a last minute entrant would seem to be a very unlikely scenario. Since major shareholder Langholm wants to sell there is no option for the company to continue trading as an independent entity either (unless Avalon pull out) and they have already pledged their shares to Avalon at the offer price. So either the deal goes through at 76p at the end of September or Avalon pull out and the company continues as an independent business until Langholm finds another buyer. You're right - not a great deal for the other shareholders but how bad a deal it is depends upon the price that you originally paid for your shares ! |
Posted at 10/8/2009 08:03 by masurenguy RNS Number : 1315XAvalon Acquisitions Limited 10 August 2009 UPDATE ON POSSIBLE OFFER FOR JUST RETIREMENT (HOLDINGS) PLC ('JUST RETIREMENT') On 26 June 2009, Avalon Acquisitions Limited, a company formed by funds advised by Permira Advisers LLP ('Avalon'), announced that it was considering a possible offer for Just Retirement. Avalon announced it had obtained irrevocable undertakings in respect of 155,128,173 Just Retirement shares, representing approximately 52.29 per cent. of Just Retirement's existing issued share capital at the date of that announcement from (i) Langholm Capital Partners L.P., (ii) LCP (Guernsey) L.P., and (iii) Langholm Capital LLP on behalf of Langholm Capital LLP Co-Investment Plan ('Langholm') to accept an offer from Avalon (if announced) at 76 pence or more per Just Retirement share in cash and to vote against and not accept any competing offer (the 'Langholm Irrevocable Undertakings'). Earlier today Just Retirement announced that it has extended the timeframe within which Avalon would need to submit a firm offer proposal to its Board pursuant to its break fee agreement with Avalon announced on 26 June 2009. In recognition of that time extension, Avalon and Langholm have now agreed to extend the date upon which the Langholm Irrevocable Undertakings cease to be binding. As amended, the Langholm Irrevocable Undertakings will now cease to be binding if no firm offer announcement is made by Avalon on or before 1 October 2009. Avalon and Langholm have also agreed that, should Avalon choose to make a firm proposal by way of contractual offer, the acceptance condition for such offer will not be set or waived below 75 per cent. without Langholm's prior written consent. In addition, Avalon has confirmed that it will not exercise its rights under the Langholm Irrevocable Undertakings to require Langholm to vote in favour of any resolution under note 4 of Rule 16 of the City Code on Takeovers and Mergers and that Langholm shall be free to vote as they see fit on any such resolution. No other amendments have been made to the Langholm Irrevocable Undertakings. In addition, Avalon has now obtained an irrevocable undertaking from Michael John Fuller in respect of 22,563,539 Just Retirement shares, representing approximately 7.60 per cent. of Just Retirement's existing issued share capital at the date of this announcement, and 219,595 further Just Retirement shares under option. This irrevocable undertaking commits Michael John Fuller to consent to an offer from Avalon (if announced) at 76 pence or more per Just Retirement share if on a scheme of arrangement shareholders are considered to form more than one class, and to vote against and not accept any competing offer. This undertaking will cease to be binding if no firm offer announcement is made by Avalon on or before 1 October 2009. The making of the offer remains conditional on a number of factors, including the completion of due diligence, and therefore there can be no guarantee that any offer will ultimately be made for Just Retirement. This announcement does not amount to a firm intention to announce an offer. In addition, Avalon reserves its position in relation to the terms of any such offer (if announced), including without limitation the mode of implementation, the form and/or mix of consideration and offer value, provided that any offer at an offer value of less than 76 pence is agreed with the Board of Just Retirement. A further announcement will be made in due course. 10 August 2009 |
Posted at 02/7/2009 17:26 by alanrex masureguy - agreed. was thinking any price would have been closer to 100p and with suggestions of more than one bidder, that was supported. believe now that had there been no takeover talk, the share price could have done better than where we are as the share price would have recovered in line with the march recovery. either way, i hope a bid is completed sooner rather than later so that i can free up some funds at 76p (should still have an OK return)all imo dyor |
Posted at 12/6/2009 13:45 by alanrex i think that the takeover talks may have restricted the the share price from rallying further from the march nadir. i sincerely hope the talks are concluded successfully.all imo dyor |
Posted at 02/6/2009 17:05 by masurenguy Company has been in discussion with 'interested parties' for 7 months now with majority shareholder Langholm Capital allegedly seeking circa £300m or just over 100p per share.Still no news after all this time but, as rule 8.3 still applies, discussions must still be ongoing. At 65p, the share price is circa 10% below the level reached after the first revelation of an approach last November and 35% below Langholms perceived target. |
Posted at 02/6/2009 16:04 by alanrex hopefully the share price isnt saying the takeover talks are over, but i have just increased my holding! |
Posted at 01/8/2008 07:55 by masurenguy 2007/8 NEW BUSINESS FIGURES* Group total sales in twelve months to 30 June 2008 were £763.5m, up 12.8% year-on-year on the corresponding period (£676.8m). * Annuity sales increased 9.6% year on year. * Equity release sales were 27% higher year on year and 29.4% up on the previous quarter. * Market shares in both products increased compared to the previous year, with annuities estimated at 5.5% and equity release at 14.0%. * The FSA's announcement yesterday, calling for the fair treatment of annuity customers, is expected to boost demand for enhanced annuities. NEW BUSINESS RESULTS £m (unaudited) 12 months ended 12 months ended % change 30 June 2008 30 June 2007 Annuity Policies 604.5 551.6 9.6% Equity Release Mortgage Advances 159.0 125.2 27.0% Group Total 763.5 676.8 12.8% £m (unaudited) 3 months ended 3 months ended % change 30 June 2008 30 June 2007 Annuity Policies 143.8 149.8 (4.0%) Equity Release Mortgage Advances 48.0 52.6 (8.7%) Group Total 191.8 202.4 (5.2%) Mike Fuller, Chief Executive of Just Retirement, commented: "I am pleased to announce that the company has reported another full year of strong sales growth delivered against a backdrop of challenging market conditions. Critically, we have increased our annual shares of the annuity and equity release markets through our product, technology, service and funding advantages. The commitment from the FSA and ABI on ensuring a greater proportion of annuity demand is "shopped around", the move to a stricter MCEV basis for our competitors and the widely expected long term growth in our core markets, all suggest that the medium term outlook remains positive for the company. Accordingly, I remain confident of further progress in the coming year." Business performance The UK annuity market's growth in 2007/8 was below the expected trend rate as uncertainty continued to have a bearing on annuitants' decisions and timing of annuitisation. We believe that the 9.6% increase in our full year annuity sales outperformed the market despite periods of intense competition and the entrance of new players into the enhanced and impaired markets. Full year equity release sales were strong, showing a 27.0% gain on the previous year. The fall in year-on-year sales in the final quarter is a reflection of the exceptionally strong comparable period. Against the 3 months to March 2008, we have grown our sales by 29.4%, achieving a 17.4% market share in the quarter and 14.0% for the year; levels equivalent to our best performance to date. Recent industry sales figures for the 3 months to June 2008 from SHIP show a 14% gain onQ1,demonstrating Just Retirement's substantial outperformance of the market. >>>>>>>>>>>>>>>>>>>> Sales actually slowed by 5% in Q4 BUT it is reasonable for the CEO to point out that this was in comparison to stellar growth in Q4 last year where overall sales growth for the quarter was 103%. Fullers comment "Against the 3 months to March 2008, we have grown our sales by 29.4%, achieving a 17.4% market share in the quarter and 14.0% for the year; levels equivalent to our best performance to date. Recent industry sales figures for the 3 months to June 2008 from SHIP show a 14% gain on Q1, demonstrating Just Retirement's substantial outperformance of the market." is valid in that Q4 sales growth over Q3 this year was 29.4% compared to a 22.8% growth in Q4 sales over Q3 sales last year. Cumulative 9 month sales were 20.5% ahead of last year so the annual growth rate of 12.8% does indicate a sales slowdown over the past few months. Question is to what extent this slowdown is likely to continue into the next 12 month period and that is an uncertain factor at this stage which may negatively impact the share price. We will need to wait until Sept 10th to see whether profits (£29.5m pretax last year) have increased inline with sales growth (up 12.8% this year) or whether they have been impacted by lower margins or higher operating costs. When Q4 results were released last year the share price was 233p and the market cap was £684m. At last nights close the share price was already 54% lower at 107p as was the market cap at £315m. How much of the slowdown in growth has been factored into the share price remains to be seen. If there is any further dip in price, that might just occur due to the current volatile market climate, it could prove to be a good further buying opportunity since IMV this still looks like a very good long term prospect. |
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