Resources In Insurance Group Share Discussion Threads

[davidlloyd] 30/8/2013 09:47

cough, splutter - somebody has bought some. Thought this had fallen asleep completely.

DL

[cottoner] 08/8/2013 19:43

Results are due this month.

Results will not be good but current/future trading should make RIIG look cheap at current price.

[loverat] 08/8/2013 19:33

Well, I wonder who they went to.

You do wonder why these funds make investments in these thinly traded companies if they are going to sell out at a historic low. Perhaps they were desperate for the 16K.

The market maker(s) are certainly making little effort to generate a market. A possible improvement in the outlook and potentially more contracts and this is stuck at 0.15p. Anyway I have a feeling these are going to have a run up soon.

[leeming] 08/8/2013 14:14

Interesting that they got .16 for the 10m.......pretty generous for such a large dump.

[cottoner] 08/8/2013 10:52

10m trade - disposal by Webb Capital.

[loverat] 06/8/2013 19:21

A trade for 10m showing. Cannot tell if that is a buy or sell.

[davidlloyd] 06/8/2013 12:07

I would hope nearer 3p, than 1p, though have always been a bit of a dreamer.....
I suppose these can now be bought within an ISA - so could explain why so many small co's on the rise of late...
DL

[sirraman] 06/8/2013 09:45

never know ..been here before..hope its a bid for the company at 1p ..;o)))

[loverat] 06/8/2013 09:42

Something afoot perhaps. I think the last statement alluded to some activity and more regular announcements.

[cottoner] 06/8/2013 09:41

3 million buy @ 0.18p.

[loverat] 23/7/2013 05:34

And another trader and they mark it down. A lesson for the future perhaps for traders to leave well alone here.

[loverat] 11/7/2013 18:52

I see people caught out trading the other day are selling.

273,125 share purchased @0.24p the other day, sold for 0.135p today - realising a loss of just under £300.

Not a huge amount but I suspect it was to the person who sold them. I have not made a great deal of money here but if you are to make any shorter term money here or in lots of shares like this, you have to buy before news and wait. You do not buy when the share price has already gone up 50%.

[loverat] 05/7/2013 22:43

Charmer1_23

I do not think the share price fell back because people who bought shares yesterday then read past RNSs and then decided to sell them the same day. They were traders.

A year without any news was not that helpful to the share price and no doubt some shareholders had lost patience and sold too. Not rosy if you look in terms of the past but it is the future which should add a speculative dimension to these shares and more regular newsflow. The market cap reflects the past performance but we'll see what the future holds.

[charmer1_23] 05/7/2013 09:36

Looks like a few day trippers got caught out yesterday trying to trade this loss making outfit. The company has moved their year end so next results to be published by August end will be the 15 months to 31/03/2013. Also seems that they are dependent on financial support from Mr Morton, not as rosy as those that piled in yesterday seemed to think.....

[cottoner] 05/7/2013 07:27

Loverat,

Thanks for your reply.

I must admit that after several readings of both statements I eventually came to the same conclusion.

However nice to have it confirmed that the statements weren't very clear and it wasn't just me who was unsure.

[loverat] 05/7/2013 04:54

cottoner

I spent a little time reading both statements as a little confused myself. I think the new contract refers to this one that was under negotiation.

-- Negotiations well advanced for the further provision of PPI complaints handlers to major UK retail bank value circa GBP760,000.


Judging by the upbeat tone about further discussions across the business, I think further news might not be far off. Seems the management may now be listening to shareholders not happy with the previous silence and will be updating the market more regularly from now on.

[loverat] 04/7/2013 18:17

Hilarious examples of how not to trade. At least 5 or 6 buys up there that you can link to a sell. Each with a 25% loss.

Hopeless stuff.

[loverat] 04/7/2013 17:30

Excellent news. Started off very brightly and then went back to more or less what it opened at. Too many people trying to day trade this. This is not one you can trade in a day although it can be done over a shorter period. For example the other day you could buy briefly for 0.106p and sell today for 0.20p. I sold a few earlier to bank a profit but very difficult daytrade wise.

Anyway this news should propel this forward and I think more news to come. I think we will see a steady build up and momentum now the traders have all sold at a loss. Maybe the next spike there will be less people in looking for an exit.

[cottoner] 04/7/2013 17:06

From RIIG trading update on 25/6/13

Highlights for 2013 include:

· Contract with Global Recruitment Operation - 12 Months - valued £1.4m to provide complaints handlers to Financial Services organisation.

· Extension of current PPI contract with leading Global Retail Bank - Impacting July to December 2013 - valued circa £760,000.

· Negotiations well advanced for the further provision of PPI complaints handlers to major UK retail bank value circa £760,000.


From today's contract news

Pursuant to the Group's 15 June 2013 Trading Update, the Board of RiIG, a leading provider of claims management and consultancy solutions to the UK insurance profession, is pleased to report on its second contract win valued at circa £760,000 for the further provision of PPI complaint handling services.



The contract is with the same leading global retail bank as the contract announced in June and the combined value of the two contracts now stands at £1.5m. The Company is expecting to benefit from these contracts in the current month and for them to generate significant revenues within the current financial year to March 2014.



Thus this contract announced today is with the Global Retail Bank as per
the tu on 25/6/13.


Does this leave the other contract worth circa £760K with a major UK retail bank still to be announced or is today's contract the one previously being negotiated?.


.

[bernieboy] 04/7/2013 08:45

Whats the debt position here anyone?

[davidlloyd] 04/7/2013 08:14

QED, loverat!
DL

[loverat] 03/7/2013 10:33

Anyway - looks a few folks buying them up while they are still cheap. One or two million trades gone through these last few days. I sense there will be a little more interest going forward and perhaps more news on developements.

[loverat] 25/6/2013 20:17

I've got a feeling that the directors don't put alot of effort into growing this company. I will have a dig around sometime but I suspect the directors here are probably involved in lots of companies and this is just a sideline.

For example, no trading update last year to tell us that trading was not going that brilliantly in the weather related stuff. No contract announcements and then we have a few at once, all mixed up which had a negative effect on the share price. These announcements would have been better released in a timely fashion and separately. Is it any wonder the share price is where it is when there is no news for 9 months?

As for the business, the contracts sound good but again are announced 9 months after the last results when people would have invested on the expectation there would be some regular news. The PPI stuff is interesting and I am going to dig around on that. I understand that some of these contracts are for banks/insurers to deal with complaint handling. That is massive at the moment and banks are absolutely overwelmed with work at present. In theory as long as they have the capacity to invest and staff this, potentially alot of business can be created. Why they have not made more of this, I do not know.

As for the PPI calls I did not think this is what they do but I am going to make some enquiries. If part of the business is the CMC related stuff (e.g cold calls) that seems like a conflict with some of the above work I mentioned and I do not think makes as much profit because I have seen the poor way some CMCs run their business.

Personally I think this company probably needs more investment and time and effort. The way the statement reads to me is that this business is a hobby or a sideline. I wonder if JF just woke up this morning and wrote it in half an hour. Anyway - that said, the share price is far lower than it should be and I am expecting regular announcements from now on.

[davidlloyd] 25/6/2013 17:55

Agree Soggy, but it is a better rate than you would get in the bank. I assume the agreement will be that they get first dibbs if it all goes AoT too.

Have to say am very disappointed with this. I guess they have nothing to do with flood insurance claims verficiation - just 'weather'. I thought we were in for a bumper year given what has passed. Extremely wooly reasons IMV.

On another note, does this mean that all the repetitive PPI claims cold calls I keep getting are coming out of this outfit!?

DL