Nationwide Accident Repair Svc Share Discussion Threads

[spooky] 07/11/2013 08:59

Not a lot of stock around.

[steveglobal4] 17/10/2013 08:57

expect an update on nars Monday with quindells trading update.

[coolen] 10/10/2013 23:21

Worth watching, perhaps, for those fund managers who sold NARS (in the share exchange with QPP) to start re-purchasing ?

[deanowls] 10/10/2013 04:39

Thanks guys,

That's what I believed its just they normally spell these things out and most go ex div on a Wednesday.

Bought a few thousand anyway as I believe Qpp will either buy out or increase revenue substantially.

[coolen] 09/10/2013 21:33

Hi dean

To clarify further, if you had sold "xd" today (9 October) you would remain on the register until 11 October and thus receive the dividend cheque to which you are entitled.

That's because shares sold today ( 9 October) would not be removed from the share register until 3 working days after the sale transaction (12 October)

Equally, if you had bought today, you would not be entered upon the register until 12 October, thus after the dividend cheques had been issued. So you would have bought XD and (correctly) not get the divi.

[spob] 09/10/2013 10:31

interim ex div today

1p

[deanowls] 09/10/2013 10:17

Is this ex divi today or as the results say on " the registrar at the close of busines 11th October" ?

[topvest] 09/10/2013 09:41

Hasn't anyone noticed this....



I'm surprised this hasn't boosted the share price today. Does it impact NARS directly? Not 100% sure, but it shows that Quindell can win some big contracts and crash repair work should be heading this way.

[steamy001] 03/10/2013 12:17

be patient and trust QPP to sort it

[bend1pa] 02/10/2013 18:49

Some shrewd operators Quindell must be. There is no such thing as "implied minimum value" for a share They paid 84p for shares that were quoted on the market at the time around 50p, and in the space of a week Quindell are currently down 25% (63p) on the deal with the share price continuing to slip back. Furthermore the business they have invested in has been dwindling over the past few years with a big div cut this year with conditions set to show no improvement. The management have made a poor fist of things during this period. They've tried to blame weather condition, economic austerity etc for poor results despite taking drastic action to reduce their cost base but despite this eps continues to trend down. Quindell are not experts in the car bodyshop business so without a thorough overhaul in management I don't see this as a great investment opportunity

[m1das_touch] 27/9/2013 17:58

bend1pa, Miton & Octopus haven't 'ditched' their stakes, they each sold their stakes for an equivalent of 84p per share to QPP, accepting Quindell shares in lieu of cash.

Quindell's investment could probably be described as 'transformational' as far as NARS is concerned, as clearly Quindell intend to pass virtually all of their repair work from many of the UK's leading insurers to NARS.

NARS has been saying for some time that insurance work has been decreasing due to competitive pressures etc. this investment will reverse that trend, and over time will surely put NARS into prime position as the UK's number 1 repairer for insurance companies.

The share price has leapt, because Quindell's purchase effectively puts an implied minimum value on NARS shares of 84p. Quindell are shrewd operators, so I can't believe they would pay 84p unless they believed that a fully recovered NARS is worth significantly more.

[bend1pa] 27/9/2013 17:42

Meanwhile Milton Group ditched their 14.5% stake amd Octopus Incestment Nominees sold their 7% investment announced today. I'm not sure if Quindell has bought directly from them as amounts sold are almost the same as Quindell's purchase. I presume that's what's happened but I'm surprised the share price leapt up as it basically would be an arms length sale or transfer of ownership. Results and outlook still poor but bot disastrous, but difficult to believe NARS will turn itself around anty time soon

[steamy001] 27/9/2013 15:42

investec or close to sell to Quindell next then ;)

[m1das_touch] 27/9/2013 15:32

So they're planning to build up to 29.9%, just under the percentage where they would be obliged to make an offer for the whole company.

Exciting times for NARS!

[m1das_touch] 27/9/2013 15:31

Rob Terry, Founder and Executive Chairman of Quindell said: "We are pleased to be announcing this increase to our shareholding, taking it to 25.3% which is clearly a key level of influence to have reached in relation to any future shareholder decisions regarding the business, and we will continue to look at building our holding to 29.9%.

As previously stated, having a direct ownership stake in a repair services networks will enable us to take advantage of the volume we manage for our clients. Following an initial meeting with the Chief Executive and Finance Director of NARS yesterday we remain extremely confident of the value creation opportunity for both NARS' and Quindell's shareholders by the two companies working in collaboration in the market even though no specific agreements have been reached at this stage."

[steamy001] 27/9/2013 15:28

Quindell has acquired further shares in Nationwide Accident Repair Services plc (AIM:NARS.L) ("NARS"), the largest dedicated provider of accident repair services in the UK, increasing its shareholding by 2.8% to 25.3%.


looks like QPP are taking this one over fast

[topvest] 25/9/2013 20:15

Things suddenly look much brighter here. Interim results were quite positive I thought, particularly on the outlook. The Quindell stakebuild also has to be very positive. Fair value must be £1 or so.

[wjccghcc] 25/9/2013 15:43

Happy to be proved wrong but I can't get my mind round how a buyer could get comfortable with the pension fund.

NARS have 87mm of pension liabilities with a deficit of 22mm.

FOUR had 100mm of pension liabilities with a deficit of 23mm.

It cost FOUR a 25mm premium to offload 20mm of their fund. I know it's hard to compare pension fund with pension fund, but you'd probably be looking at at least twice the NARS market cap just to offload the pension fund.

I can see why QPP have bought the stake in order to get better pricing - I just can't see how a buyer could justify buying the whole thing.

[m1das_touch] 25/9/2013 15:41

The key phrase in that statement is 'no current intention.' That leaves open the possibility of a full takeover in the future, which puts NARS in play.

[spooky] 25/9/2013 14:21

They look in play to me, the only debate will be over how long the game will last.

[harrogate] 25/9/2013 14:03

I don't think the insurers are going to like this at all so will be interesting to see what it all means

[wjccghcc] 25/9/2013 13:47

Not so sure they're in play. NARS statement reads:

"Aside from being informed of Quindell's share purchases and that Quindell has no current intention of making an offer for the entire issued share capital of the Company, Nationwide can confirm that it has not yet entered into any discussions with Quindell concerning its investment in the Company."

Doesn't that prevent QPP making an offer for six months under the takeover code?

[m1das_touch] 25/9/2013 10:04

I think it's taking time for this news to filter through and for the implications for NARS to be fully digested.

For those institutional investors who sold their shares to QPP, there's arbitrage potential here. They received the equivalent of 84p in Quindell shares, so why not sell those and buy back into NARS at 63p...then wait for the value to out in NARS, or for Quindell to come back for more shares!

NARS is now, to all intents and purposes, 'in play' as a takeover target.

[steveglobal4] 25/9/2013 10:00

surprised we are not a lot higher than this.

[m1das_touch] 25/9/2013 09:58

Well they paid the equivalent of 84p for 22.5%, so I guess that's a minimum price. But in the future they may have to pay significantly more if they take them out, because ironically they've increased the value of NARS by their investment!

Imagine all the insurance repair work that will be coming the way of NARS now...