Broker Network Share Discussion Threads

[lomax99] 18/10/2007 08:46

Thanks for the update Geovest.

[greengiant] 16/10/2007 11:18

Pop in every now and again, bought again at £4, but foolishly sold at £4.40.

Nice to see this one doing so well, always was one of my fav's

;-)

gg

[geovest] 16/10/2007 11:01

Hi greengiant, haven't seen you around here gor a while. ;-)

[galweybay] 16/10/2007 10:52

Thanks. good to hear what the professionals have to say!

[greengiant] 16/10/2007 10:47

Geovest - Completely agree with your analysis on Cobra, as a reflection, I believe you can buy 22,500 online but can only sell 3,750. Altho' I believe it is something like 92% not in free float.

One to keep an eye on, but definately not one for now.

gg

[geovest] 16/10/2007 10:44

Galwebay, yes the BNH share price went down after float, but the profitability continued to rise throughout, which is the big difference in my view. I continue to keep an eye on Cobra as a competitor to BNH and to see how they develop, but the recent results were very disappointing. Cobra added quite a lot of cost in the run-up to listing and I don't expect full year results to be good either.

[galweybay] 16/10/2007 10:34

thanks geovest and noted but dont forget BNH went through a rocky period just after their floatation when share price went down to about 60p after floatation price was pitched at 71p. interesting but lets wait and see what happens

[geovest] 16/10/2007 10:28

Cobra is rubbish, they have a different and much weaker revenue model, just look at their recent results. Scan back on this thread to around July where I have detailed the differences in business models etc.

They wanted to float at 100p and could get no support as the brokers and institutions wanted 60-70p. Directors refused, placed a few shares with friends and relatives and went ahead with the 'listing'. Free float below 6% and have only traded about 10000 shares in 2 months. Not really a listed company.

[galweybay] 16/10/2007 10:15

Agree with gogoalex on October 14th about these brokers powering on. Has anyone looked at new-comer in July this year - Cobra holdings. Similar set-up to BNH and price not moved much despite what has happened to BNH.

[geovest] 15/10/2007 20:16

bigman, £12.5m was for Lowry Law for which they provided full details -



The Adam & Gaskell acquisition was not material, considering the size of the group.
I know the paramaters they use for acquisitions and that means they pay a lot less than than most and I am quite happy that they keep this confidential.

[dreggspicker] 15/10/2007 19:11

Hi all,
AGM,
I will be there with Mrs dreggs, I just hope there is cake this year, I think the company can stretch to that.

[bigman] 15/10/2007 17:44

Geovest I have been doing a little studying on BNH and notice that they dont say what they pay for acquisitions and give little details on the businesses, turnover etc etc. and say the details are confidential. having spent £14m on acquisitions last year i think that shareholders are entitled to know more, in fact it is surprising that they can say as little as they do. I think they are going a great job

[btb2] 15/10/2007 14:18

Hello all....

I am harrogate based, and will be attending, although I did not realise it was on until it was mentioned earlier!

I have known Grant Ellis and Peter bates (Non-Exec Director) for over 20 years now, having spoken a couple of times recently to Peter, and he always makes it clear he cannot say too much. What he did say was they would only sell the business if the price was right

I also mentioned I had only recently bought back into the Company, he told me to hang on in there as they both still see great upside potential

[dan_dare] 15/10/2007 14:04

Thanks Lomax.

Pity I can't make it as I'm London based.

[geovest] 15/10/2007 14:02

lomax, yes I plan to go. It will unfortunately be a 5am start for me and don't expect to hear from me until Thursday.

[lomax99] 15/10/2007 13:58

Rudding Park at 11am on Wednesday 17th.

[dan_dare] 15/10/2007 13:49

Where is the AGM taking place?

[lomax99] 15/10/2007 13:15

Anybody going to the AGM on Wednesday? Geovest, I know you mentioned you might be able to go. Any feedback would be much appreciated. Thanks.

[ronmikeh] 15/10/2007 12:04

Short term profit taking Buy 440p sold 500p in under a week ,not bad.

[bigman] 15/10/2007 12:01

gogoalex I guess you have picked a few up, surprised to see the drop this morning

[gogoalex] 14/10/2007 18:24

Hi guys I picked up on this one from over on the CBG thread, these insurance brokers dont half have a great share performance, looks to me like they just keep powering on, might have missed the boat a bit on this but itstill looks good if I can buy below 530 on monday I will be in.

[0rb1t] 14/10/2007 13:55

The management have ambitious plans to double the size of the company and own 25% of the shares. I would find it supprising if they accept anything under £8.

BNH should make earnings this year of about 40p/share. The current price is still less than 13 times this year's PE and represents good value. I don't think anybody is going to pay that much and it will be difficult to get a hostile takeover with the management owning 25%. At least the company is on a decent rating now.

[geovest] 14/10/2007 13:11

I would be very disappointed if any offer below £7 is even considered and in that case I would certainly put together a shareholder action group to canvass institutional and other shareholders. If they want to sell, at least lets have a proper auction.

I still maintain that the growth from currently 174 brokers to 250 by 2010 (3 years) and 500 by 2012/2014 (5-7 years) plus acquisitions, will result in a very substantial lift in earnings and we will see a share price of £10.00+ within 2-3years and £20+ within 5 years.