Chesnara Share Discussion Threads

[retsius] 13/8/2012 16:38

Aleman
After today`s close ,are you confident of a rise?

[aleman] 13/8/2012 15:50

Only needs to close over 166p (and falling about 0.5p per week) to break the downtrend in place over a year.

[retsius] 03/8/2012 15:05

Come on ,Chesnara, market is rallying very strongly.

[solarno lopez] 03/8/2012 14:26

You can deal within the quote with a broker but highly unlikely if you use an on line broker

[luderitz] 30/7/2012 20:56

Agree the spread is wide Gary which makes this one not ideal for trading, but as said many times with this one the Divi is exceptional!

[chairman20] 18/7/2012 14:30

the bookmakers have weak toolkits here

shaking the tree (lowering price quotes artificially to
panic holders into selling or the close out margin traders)
does not work.....!!!!

and not a lot of stock held in the shelves

[gary1966] 18/7/2012 12:42

Trying to buy back in here but the spread is ridiculous. I guess I will just have to be patient.

[aleman] 25/5/2012 11:17

Canaccord Genuity Ltd BUY 18 May 2012
2011 22.40 22.35 16.85 -
2012 23.30 15.76 17.29 -
2013 24.20 16.56 17.74 -
2014 25.40 17.46 18.20

[retsius] 18/5/2012 13:54

Very interesting comments. Figures look great and then you read that the market has come all the way down again since 31st March.
So today, the share is depressed like the rest of the footsie.
Looking forwards to the divvy though.

[hyden] 18/5/2012 12:43

I think the bottom is near but not yet. Perhaps towards the end of summer? I too am encouraged by this morning's numbers but I cannot bring myself to top-up until the Greek issue is resolved.

[al101uk] 18/5/2012 12:22

Hmmph, just had a look, first post I made on this thread was 2007... I feel old.

[al101uk] 18/5/2012 12:20

Not a bad set of numbers considering... solvency ratios improving, free cash improving, dividend policy maintained and still in a position to take advantage of less well run businesses should the opportunity arise. The situation since January has obviously had an affect, but I'm left wondering if I buy (more) in to the business or hold off for fear of the general market.

I was concerned about portfolio risk, but doesn't seem as bad I feared.

Been a holder since the last time we were at this level ('bout 5 years ago) and sold a good chunk near the top (255-ish) so running for free and made a healthy amount in dividends. Generally think this is a great company with strong management... too buy or not to buy more?

[aleman] 18/5/2012 11:47

What's the take on Q1 numbers then? NAV up nicely but will probably have been reversed and more since then, with the dividend knocked off on top. Looks like it should still be way ahead of the share price. Any longer term holders that can give a bit more insight?

[aleman] 10/5/2012 09:13

Topped up this morning. A prospective yield of over 10% seemed just too tempting.

[retsius] 09/5/2012 17:35

fenner66
Quite arise today considering the markets.[Kiss of death I know.]

[fenners66] 30/4/2012 15:40

Spoke too soon

[retsius] 24/4/2012 20:43

nice pop up today.Upgrade?

[jonwig] 22/4/2012 08:10

In April 2009, CSN paid £20.1m, a 63% discount to the then EEV of £54.3m for the Swedish business.

So the EEV has grown to £101m in three years, which probably isn't as striking as it looks, as they bolted on another Swedish company in Feb 2010.

They could sell for £80m without much trouble, I think. But that assumes buyers would be eager, and there may be tax implications on the gain - I don't know.

APAD: Both IFRS and EEV results during the year have been impacted by the downturn in equity markets and the general decline in bond yields, ...

Equity markets have risen since the year end, but high quality bond yields are still depressed, partly because of a flight from dud bonds. My own view is that bond yields will rise soon - I hope so, because I've sold all my gilts!

[apad] 21/4/2012 13:06

jonwig
I looked at this for a friend who owns (some of) it and is wondering why.
I can't find much to criticise if the market (as a whole) rises.
What are the negatives in your view?
apad

[jonwig] 21/4/2012 11:11

Yes they could - after all, they bought it in a fire sale!

[topvest] 21/4/2012 10:08

They could possibly demerge Movestic now that it is moving into profit. Any thoughts?

[jonwig] 21/4/2012 07:56

Chairman is right, apart from Movestic.
That's about one-third of the total:

Contribution to EEV from operating segments (£ '000):

CA: 117,097 S&P: 62,579 Movestic: 100,988 Other: 13,825 Total: 294,489

As the other operations unwind, the company has a number of things it can do such as buy more zombie funds, buyback shares, etc.

However, a crucial factor is that live funds demand more capital (and even more under Solvency II from ?2014). That will constrain the dividend.

[apad] 21/4/2012 07:24

I thought that CSN was not just a zombie fund now, as a result of a takeover?
apad

[chairman20] 20/4/2012 23:08

jeavon

Chesnara is a wasting asset
part of the divi is effectively a repaying
of capital ties up in maturing policies as the
company shrinks.

The judgement is how long will the processtake
and I am a holder because I believe we are looking
at over a decade here - unwinding takes longer
and produces fatter returns than accounting numbers
indicate (because accounting numbers are worst case
forecasts and discounts)