Brit Insurance Share Discussion Threads

[iomhere] 26/2/2010 15:26

spittingbarrel
I only hope I'm right! I suppose the message is that if your holding is in an ISA wrapper or not really large there'll be little to worry about.

[spittingbarrel] 26/2/2010 15:21

IOMhere - Many thanks

[iomhere] 26/2/2010 15:08

Apparently so but it comes, so I believe, as a return of capital and isn't subject to the usual deduction of a tax credit. Again as I understand it, this means an increase of one ninth but a proportionate capital gain based on what's returned less the price paid for the returned capital.

[spittingbarrel] 26/2/2010 14:55

Hate to sound stupid, but I'll risk it anyway. Do we still get a cheque when these things go ex divi/capital reduction?

[crawford] 26/2/2010 12:14

Effortless,
so we get a 30p 'dividend', but it's really a capital reduction which we need to take into account for capital gains purposes when we sell?

e.g take 30p of the cost of BRE when selling?

[effortless cool] 26/2/2010 11:25

crawford,
Unfortunately not. It should decrease the share price by 30p, just like a normal dividend.
EC

[edmundshaw] 26/2/2010 09:52

Consolidating on the day of results was asking for trouble TBH. They should have been advised on choosing another day.

Still, brokers should be on top of such a common occurrence.

[crawford] 26/2/2010 09:52

Sorry for the stupid question, but how does this work:

"Recommended final distribution of 30.0p1 per share making total distribution for the year of 60.0p1 per share (2008: 60.0p1 per share). Distribution to be made in the form of a capital reduction"

Should this increase the share price in theory by 30p?

[lucky_lady] 26/2/2010 09:50

Thanks Typo, Understand now.

Still can't trade online with Barclays (probably phone only) and is still not showing any of the trades that have gone through. Thats Barclays for you.

Don't hold at present time but am looking to get in, execellent one to hold for the divi.

[effortless cool] 26/2/2010 09:48

simon gordon,

The consolidation related to the fact that they now have to pay dividends in multiples of 1 cent and, thus, wanted 1 cent to be a smaller proportion of the share price.

A bit lame, I think.

EC

[typo56] 26/2/2010 09:42

Lucky_Lady, yes 9am. But 9am EST. i.e. 8am BST.

I had no trouble trading from open. I don't think brokers with slack systems should get away with not letting you deal, especially if it's preventing you selling holdings in a nominee account.

Barclays may not be showing trades because, although they may have the same ticker, the nominal value of the shares has changed from €1 to €4.

[simon gordon] 26/2/2010 09:24

Why did they consolidate the share, couldn't they've just kept it at 1.95p? I would imagine volume will drop as its not such an attractive scalp at 800p.

[lucky_lady] 26/2/2010 09:21

see what you mean there.

I trade with Barclays and they don't show any trades yet.

Very odd

[boadicea] 26/2/2010 09:16

Sounds odd.
I just clicked on 'TRADES' tab at the top of this page. Currently lists 114 trades so far today.

[lucky_lady] 26/2/2010 09:02

can't see any trades on my screen yet

[boadicea] 26/2/2010 08:59

???
They uncrossed (777p) at the open, 8 a.m.
First mm 'O' trade was at 8:08 a.m.

Neither BSL nor Selftrade can currently deal on-line but claim to do telephone deals.

[lucky_lady] 26/2/2010 08:52

I think the new shares start trading at 9am

[edmundshaw] 26/2/2010 08:45

Bloody Halifax suspended this share yesterday and (so far) today.

Apparently the share consolidation is just too much for them. Amateurish or what?

[crawford] 26/2/2010 07:11

"Earnings per share of 113.2p1 an increase of 32% (2008: 86.0p1) "

[harry rags] 22/2/2010 16:34

I think the same edmundshaw but Friday will tell

[edmundshaw] 20/2/2010 12:06

Brit results scheduled for Friday 26th.

Should be pretty positive I think.

[q4z] 04/2/2010 09:56

CGL's are due soon and they should be even better but the problem may be its assessment for the future.

[crawford] 04/2/2010 08:56

AV. results out, not bad.

[q4z] 04/2/2010 08:50

Other insurers seem to be similarly affected. BRE, CGL and CHU all high yielders with, apart from exchange rates and I'm not sure how they fare in that regard, no apparent downside.

[roundup] 02/2/2010 08:25

Despite being tipped, this company can't get ahead. Can anyone explain its poor performance.