Pearl Grp (DI) Share Discussion Threads

[jpmorgan] 02/4/2010 12:15

More complexity, but also more information in the results released on 31/3/10.

Closest competitior is Resolution group also on a massive NAV discount. Would make a lot of financial sense in terms of scale for them to combine, and push to narrow the NAV discount. Long intertwined history with strong personalities but maybe so not in the short term. Strange with both groups aiming for same acquisition/growth targets in a small pond.

Dividend statement changed to pro rata 17C based on 50c which was a negative this year, but positive next year.

Overall will monitor, as the business model is stable and well proven, but financial framework of the group is still hazy.

JPM.

[topvest] 14/3/2010 16:51

Watching; hard work to understand this company. Will await the results.

[jpmorgan] 27/2/2010 10:38

EnviroV,
Has dropped in terms of price over last 6 months (LSE and previous Euronext listing), so maybe £3 is possible and good one to short if have faith in the view. What is your thinking on valuation of £3 per share?
JPM

[envirovision] 27/2/2010 10:30

what we looking at here £3 target?

[jpmorgan] 27/2/2010 10:19

Did some Level 1 Research on PRLG and though would raise a discussion on the company to see if this is on any other investor radar with their views.

The company has a complex history in term of ownership, identity and financials, but the business model is sound and proven over many years.

The company has a well connected chairman, and increasing its financial profile in the UK where most of the business is based with a secondary listing on the LSE currently (premium listing on the cards in 2010).

With a name change to Phoenix could this be a good long term recovery/growth story? Views welcome :-)

[jpmorgan] 27/2/2010 10:16

Some Significant Future Events
31/3/2010 - Final Results Announcement
April 2010 - Euro 50c Dividend
April 2010 - Name change to Phoneix Group
2010 - Primary Listing on LSE