|Nationwide Accident Repair Ser.
||EPS - Basic
||Market Cap (m)
Real-Time news about Nationw.Acc (London Stock Exchange): 0 recent articles
|battlebus2: Great results that say to me we were sold on the cheap.
The share price could well have been trading around the £1 mark with this mornings results.
Completion on 31st May subject to shareholder approval.|
|sweet karolina: Not sure which complete moron decided to vote my earlier post down, possibly a moron who thinks more highly of QPP than of NARS.
With the holdings RNS's out already, it would appear the shares were mostly placed with genuine holders, as I hoped they would be.
QPP are going down the pan and very quickly by the looks of things with one of their subsidiaries with a CCJ and now another facing a winding up order for non payment of bills.
Being shot of QPP as a major shareholder should come as a massive relief and I hope the share price responds accordingly best of luck.|
|coolen: What was the share price when the institutions sold out to QPP last September ?
Are those same guys likely to be on the list of placees ?|
|gutterhead: This share still in bargain territory. Could be on for a record year. I think the best net they made was about 7.9m with a share price at the time of well over 100p
Cash position looks much better than forecast and they are growing again after a stagnant period in the last two years where they closed unprofitable sites. Should this go anything close to 70p again, I'll buy some more. All imo|
|topvest: Yes, very good news indeed. The share price is undervaluing this company still given the strong recovery in trading that is now pretty obvious.|
|gutterhead: I think you are both right but you both are saying that share price will be all about what happens with qpp shares.
I think there trading result is going to show a big improvement and if they have integrated new businesses well, that will also help.
Either way, I hold and am about to top up as can see close to 100p by March.
I think results will come out late February so not too long to find out.
The qpp shareholding does give an opportunity to take a large stake in nars and on the basis that they must be one of the biggest buyers of car parts, a big parts factor company must surely be interested or even halfords?
Anyway, interesting times ahead I think.
As ever, above is only my opinion|
|harrogate: I agree but I would have thought most buyers of the stake would be good news for the share price ..removes uncertainty and maybe triggers some sort of deal. I am holding off but wary that if/when it is announced it will be too late. And there is a trading update due fairly soon|
|spob: The board should def not buy the shares back
They should wait until qpp becomes a forced seller at any price
Only after that process has concluded should NARS go into the market and buy back shares at a silly price just as I would do myself
Not saying it will play out that way
But that's the best way to go about it
NARS should not try to defend the share price by buying directly from the qpp administrators :) ( not saying qpp will go bust but many others value the company at 0p and do expect it to be suspended )
It is in the best interests of long term shareholders for NARS to do any future buy backs at the lowest possible price|
|gutterhead: They owe qpp 84p and although qpp are desperate for the cash, would they sell?
Think it makes great sense from a nars perspective and it would enhance share price as you say.
They have been acquiring more body shops and may want the money to continue this though?
I think it's going to be an interesting next six months for nars, they look well set for the years results and don't look expensive.|
|spob: Embargoed for release until 7.00 25 September 2013
Quindell Portfolio Plc
("Quindell" or the "Group")
22.5% Investment in Nationwide Accident Repair Services plc
Quindell Portfolio Plc (AIM: QPP.L), the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets, being Insurance, Telecommunications and their related sectors is pleased to announce that the Company has acquired 22.5% of Nationwide Accident Repair Services plc (AIM:NARS.L) ("NARS"), the largest dedicated provider of accident repair services in the UK.
9,700,423 shares, representing approximately 22.5%, in aggregate, of the issued share capital of NARS were acquired on 24 September 2013 from the shareholders listed in the table below in exchange for the issue by Quindell of 50,151,187 new Ordinary Shares of 1 penny each in the Company, a ratio of 5.17 new Quindell shares for each NARS share.
Shareholder pre- investment Shares sold to Quindell Shareholding post
% Number % Number %
Miton Group (note 1) 14.5 6,261,000 14.5 - -
Octopus Investments Nominees
Limited 8.0 3,439,423 8.0 - -
Total 22.5 9,700,423 22.5 - -
Note 1: As investment manager subject to necessary consents
At the closing mid market price on 23 September 2013 for Quindell shares of 16.25p, the share exchange values each ordinary share in NARS at 84.0 pence, representing a 71.5% premium on the closing mid market price of 49.5 pence per NARS share on the same date, or a 29.2% premium on the average closing mid market price of 65.0 pence per NARS share over the last six months.
Application has been made for 50,151,187 shares to be admitted to trading on AIM. Admission of the shares is expected to occur on 3 October 2013. Following Admission, Quindell will have 4,277,312,805 ordinary shares in issue. The Company has no ordinary shares held in treasury. The total of 4,277,312,805 ordinary shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Rob Terry, Founder and Chief Executive of Quindell said: "We are delighted to be announcing this latest strategic investment in line with our stated strategy of having a direct ownership stake in repair services networks that can take advantage of the volume we manage for our clients. We look forward to exploring with the Board at NARS future opportunities for working together in the market leveraging our combined volume, driving forward the lowering of the costs of claims for the insurance industry and broadening our overall proposition in insurance outsourcing."|
Nationwide Accident Repair Svc share price data is direct from the London Stock Exchange