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Share Name | Share Symbol | Market | Stock Type |
---|---|---|---|
Nationw.Acc | NARS | London | Ordinary Share |
Open Price | Low Price | High Price | Close Price | Previous Close |
---|---|---|---|---|
98.50 | 98.50 |
Top Posts |
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Posted at 24/7/2015 11:35 by aleman NARS take out JCR at 118p. |
Posted at 22/5/2015 17:16 by battlebus2 Not long now until we get our cash, I don't know about everyone else but it seems to have dragged on..EXPECTED TIMETABLE OF PRINCIPAL EVENTS The following dates are indicative only and are subject to change(1) Last day of dealings in NARS Shares The last business day before the Court Hearing Scheme Record Time 6.00p.m. on the last business day before the Court Hearing Court Hearing 3 June 2015 Effective Date of the Scheme 3 June 2015 (1) De-listing of NARS Shares Despatch of cheques and crediting of CREST for cash consideration due under the Scheme 7.00a.m. on the business day following the Effective Date (1) Within 14 days of the Effective Date Long-Stop Date 31 August 2015 (2) 1 These dates are indicative only and will depend, among other things, on the date upon which (i) the Court sanctions the Scheme, and (ii) the Court Order is delivered to the Registrar of Companies. 2 Or such later date, if any, as NARS and CSP Bidco may agree and the Panel and Court (if necessary) may allow. All references in this document to times are to London time unless otherwise stated. |
Posted at 22/4/2015 08:17 by dozey3 Agree wholeheartedly. No doubt management will rightly do very nicely, and I suppose no profit should be sneezed at, but the takeout price should surely be 10% higher plus a small divi. We've been shafted IMO. |
Posted at 01/4/2015 08:42 by ramridge The acquisition of Seward looks like a shrewd earnings-enhancing deal. So Carlyle are effectively getting NARS at much less than the 13% premium to previous close. A steal alright. |
Posted at 01/4/2015 08:01 by finkie It all stinks q selling for 69p to city boys Nars getting out now for £1.00 this will be re floated in 2 years at 50%+ upside |
Posted at 01/4/2015 07:58 by topvest Yes,agreed - not a very attractive buy with the pension scheme deficit. I'm just about happy with £1. Not been a good investment for me and will only about break-even overall. To be honest it would fail my investment tests now given the defined benefit pension scheme. No doubt the bidder has got the timing right though:- Business cycle turning up so strong growth in earnings likely. - Discount rates for pension liabilities at an all time low. That bubble will surely burst and then the pension scheme will not be looking quite as ghastly. Disappointing that no final dividend. Makes Quindell look a bit stupid to say the least, and didn't those institutions get a fantastic deal a few weeks back. Makes you wonder why the bidder didn't take them. |
Posted at 12/3/2015 10:12 by spob sold my nars holding today 89paround 34% up with dividends over 2 years isn't bad i suppose, but i cant see another 34% in the near term reasons divi cut pension deficit drain on resources quindell forced seller at 65p would consider buying again around 45p |
Posted at 05/3/2015 07:16 by sweet karolina QPP have placed their NARS holding - this will be confirmed by a holdings RNS in the next few days.The same basic rules then apply as to an ordinary placing where the company issues more shares. Look out for the holdings RNSs for those who bought. Hopefully the placing has gone to a small number of genuine investors who have exploited QPP's misfortune to pick up a bargain. It looks like NARS is in a close period, so directors will not have been able to take part, If the company has a resolution for share buy backs then they may have taken advantage, but if they don't then I don't think they can use company money to buy their own shares. Take the number sold, then take away the numbers bought as announced in holdings RNSs and you can then assume that at least 90% of the difference will be flipped on for a quick profit. With that number look at the average daily volume, divide buy 2 as only half are buys, divide by 2 again because the flippers will not be the only sellers and you will have a rough idea of how long the overhang may take to clear and therefore how painful it might be. No position here just advising on normal market process, I hope the overhang is small and you all do well out of QPP's misfortune. For what it is worth NARS would appear to be one of QPP's better investments. The fact that they have been able to sell it now in this way rather that as a fire sale later bodes well for NARS. |
Posted at 12/1/2015 09:41 by davebowler Westhouse;Nationwide Accident Repair Services* Buy NARS.L / 69.00p / £29.81m / TP: 100p Event: Trading statement Likely % change in earnings forecasts: +5% to +10% Nationwide Accident Repair Services (NARS) – positive trading update NARS has reported a good finish to the year with group revenue expected to be c.£184.om (vs. our forecast of £180.0m). Partly as a consequence of this, together with improved operational efficiencies and economies of scale. adj. PBT will be ahead of management expectations. We now forecast £5.26m of adj. PBT vs. £4.9m previously. The net cash position of c.£1.5m at end December is significantly ahead of our forecast of £5.5m of net debt. This is all the more commendable after net outflows of more than £13.0m relating to the acquisitions of Howard Basford and Gladwins in the year. These acquisitions have performed in line with management expectations and the major contracts signed in 2014 contributed to the group’s performance in the second half of the year. We believe that NARS is well-positioned to show profit growth both organically and through further acquisitions in due course. Ahead of the 2014 results which are expected to be announced in mid-April we make no changes to our 2015 forecasts of £5.7m adj. PBT on £200m of revenue. We also maintain our Buy rating and 100p target price with the risk to the latter on the upside in our view. |
Posted at 18/9/2014 09:49 by davebowler westhouse;Acquisition NARS has completed the acquisition of Cambridgeshire-based automotive body shop operator Derek Gladwin Ltd (Gladwins) for a total net cash consideration of £9.5m, including freehold properties of £4.0m, which is being financed through a combination of NARS’ cash resources and banking facilities. Management expects the acquisition to be earnings enhancing in its first full year following the acquisition. Therefore, we leave our current estimates unchanged. Gladwins operates eight bodyshops, which provide automotive repair services to motor insurers, consumers and fleet operators. For the year ended 30 September 2013, Gladwins generated revenues of £13.4m and an EBITDA profit of £0.7m. Its net assets stood at £3.2m at 30 September 2013. Unaudited management accounts for the eleven months to 31 August 2014 show an improved trading performance over the prior year and certain costs historically incurred by Gladwins are avoidable going forward. This acquisition is in line with NARS’ acquisition strategy of expanding in selective regions and benefitting from economies of scale and improved flow of work. The addition of Gladwins is highly complementary to Nationwide’s existing operations and provides NARS with a significantly enhanced presence in the Eastern region. It also helps to increase Nationwide’s presence in its target markets of insurance, fleet and retail. This follows NARS’ acquisitions of other body shop chains: Howard Basford, based in the North West of England in February this year; and Exway, based in the South West, in August 2013. With the stock trading on FY2014 P/E and EV/EBITDA multiples of 9.0x and 6.0x, and offering a dividend yield of 3.8%, we remain happy to maintain our 100p target price and Buy recommendation. |
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