Novae Share Discussion Threads

[akhtar8] 03/3/2011 17:27

GCI comment on Hardy and Novae

[topvest] 03/3/2011 08:34

Yes, very good indeed.

[18bt] 03/3/2011 07:24

Cracking results - making the forward PE of 7 and discount to NAV look cheap. Nice div increase. Well done Fosh and the team - finally going forward (fast)

[chillwill] 21/2/2011 16:51

RNS out probably explaining the movement of 'O' shares I pointed out in previous post. Odd that someone has been reducing while the share price moved up, must have some good demand out there.

SP above the 380p resistance, hoping the 400's is on, maybe 430p +/- 10p would be a good target area.

[chillwill] 17/2/2011 12:40

Plenty of stock shifting hands at the moment? Although they're often being listed as 'O' trades:

'O' Ordinary Trade (System will delay if over 6 x NMS)
A standard trade made through the Market Makers and dealt at normal settlement date.

[nellie1973] 10/2/2011 13:45

Broker upgrade

[chillwill] 09/2/2011 23:56

18BT - that'd take the share price into the target area I've put up (420p), maybe slightly more if NAV has increased from last years 436p odd, which is around its 52 week high?

[18bt] 09/2/2011 20:27

Mkt forecasts arounf £33m before the announcement. Guy Hands confirmed for Chaucer and Beazley on the look out. Must trend to NAV at least.

[chillwill] 09/2/2011 17:47

Because insurance is boring? lol.

"Pre tax profit of not less than 34m" (aka, greater than 34m lol).

After today's good movement upward (tight spreads and high volume is usually a good sign on an up move that people are interested!) the company only trades on around 8x pre-tax profits (34m) which isn't particularly expensive.

If the share price breaks 380p it'd be very bullish and a run into the 400's would be on the cards imo (maybe around 420p).

[asagi] 09/2/2011 16:10

Fantastic RNS this morning guys.. why the silence?

Asagi (long NVA)

[asagi] 24/1/2011 18:41

got paid today.

[asagi] 22/1/2011 13:21

Has anyone been paid yet?

Asagi (long NVA)

[chillwill] 17/1/2011 13:04

Seems to be taking a bit of a dive at the moment. Might get to the 300p area? Is bringing the (normal) dividend yield into line with others in the sector, although forecast PE's are looking a little cheaper.

[763795] 11/1/2011 13:48

Typo56 Many Thanks.

[typo56] 07/1/2011 17:41

As you don't know the date you probably didn't elect to take the B shares (the capital alternative) and you will have defaulted to the C shares (the dividend alternative). Payment date is expected to be 21 Jan.

Further info is contained in the RNS of 3 Dec.

[763795] 07/1/2011 17:09

dear all, do we know when will we be getting the payment ???

[typo56] 23/12/2010 08:11

janeann, they went ex-return of capital this morning. With the consolidation it effectively means that today you've sold 1/9th of your holding in return for 45p. In theory there will be little effect on the share price due to going ex today because it is about matched by the share value increase due to the consolidation. That's why it's done.

It looks like some may have forgotten about the consolidation and sold this morning, thinking the price should have dipped 45p. A buying opportunity!

[18bt] 20/12/2010 10:14

It depends on what the share price is on the ex-date. All other things being equal, the share price will be the current market cap - the distribution divided by the smaller number of shares. As the share price is going up, we're better off following the announcement.

[janeann] 17/12/2010 16:18

return of capital of 45p /share plus a consolidation from 9 to 8 ordinary shares . this implies I am losing current share price minus 45p for every 9 shares held. can someone explain what clealry I am not undertsanding


many thanks

[nellie1973] 09/12/2010 16:36

Tipped in press today as a BUY.

[nellie1973] 03/12/2010 15:11

Broker upgrade

[18bt] 03/12/2010 07:40

Return of capital of 45p a share. Was a bit higher than I was expecting. No trading update with it.

[asagi] 10/11/2010 07:52

Trading statement this morning:



" · Group gross written premium for the first nine months of 2010: £473.3
million, up 54% (Q3 2009: £308.2 million)

· Rate change averaged a 2% increase for the first nine months of 2010
(Q3 2009: 9% increase)

· Investment return during the first nine months of 2010: £24.7
million (Q3 2009: £26.5 million). This equates to an annualised return on
average invested assets of 3.1% for the year to date (Q3 2009 annualised: 3.3%)

· Significant progress in the Group's three key strategic goals: (1)
releasing of the surplus capital in NICL; (2) achieving specific financial and
operational targets in respect of Novae Re; (3) reducing reinsurance spend and
eliminating cost inefficiencies"

Lots of other detail. I like it. Looking forward to the capital return being finalised.

Asagi (long NVA)

[effortless cool] 15/10/2010 22:29

Raised a lot of money a few years ago to capitalise a new insurance company. The insurance company delivered low volumes of poor quality underwriting. Now it's being closed down and some of the money will be given back.

Truly genius at work. Gotta be a BUY!