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ESUR Esure

279.60
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Esure ESUR London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 279.60 00:00:00
Open Price Low Price High Price Close Price Previous Close
279.60
more quote information »

Esure ESUR Dividends History

No dividends issued between 19 Mar 2014 and 19 Mar 2024

Top Dividend Posts

Top Posts
Posted at 02/12/2018 12:33 by topvest
Money at the start of 2019 then. I have said before, we have been ripped off on no H2 dividend. All a bit naughty in my view.
Posted at 02/12/2018 10:01 by speedsgh
Update on Recommended Cash Acquisition -

Next steps and timetable

The Scheme remains subject to sanction by the Court at the Scheme Court Hearing (expected to take place on 17 December 2018), the delivery of a copy of the Court Order to the Registrar of Companies and the satisfaction (or, where applicable, the waiver) of the other Conditions to the Scheme (as set out in the Scheme Document). Subject to the Scheme receiving the sanction of the Court, the delivery of a copy of the Court Order to the Registrar of Companies and the satisfaction or, where applicable, the waiver of the other Conditions, the Scheme is expected to become effective on 19 December 2018.

The expected timetable of principal events for the implementation of the Scheme is set out below. If any change to the key dates and/or times set out in the timetable are made, esure and Bidco will give notice of this change by issuing an announcement through a Regulatory Information Service and by making such announcement available on esure's website at hxxps://www.esuregroup.com/investors.


Event -- Time and/or date(1)

Scheme Court Hearing -- 17 December 2018
Last day of dealings in, and for registration of transfers of, Shares -- 18 December 2018
Scheme Record Time -- 6:00 p.m. on 18 December 2018
Suspension of dealings in and disablement in CREST of Shares -- 6:00 p.m. on 18 December 2018
Effective Date and time of the Scheme -- By 8.00 a.m. on 19 December 2018
Cancellation of listing of Shares -- By 8.00 a.m. on 19 December 2018
Latest date for despatch of cheques and crediting of CREST accounts for cash consideration due under the Scheme -- 2 January 2019
Long Stop Date -- 14 February 2019
Posted at 27/11/2018 17:53 by topvest
Q4 is all I’ve heard. We should have got a dividend given the time to close being so extended. Deal could have been a tad better, I feel.
Posted at 17/8/2018 17:50 by topvest
Useful comments. Thanks. There is no interim dividend though. That was canned. I do feel this offer is not quite as good as it could have been and the reserve releases maybe tweaked a little to make the bid look better. Let’s face it, would Sir Peter Wood have accepted 280p if he wasn’t given the opportunity to roll over £50m into a much bigger gain? Probably not. Sadly, we don’t get that opportunity, so it’s a case of he gets a slightly better deal than everyone else.... that leaves a slightly sour taste, but then again he is Esure and probably deserves it as he’s run a tight ship and given us some valuable Gocompare shares and a generous dividend. Best to just reluctantly accept what is on offer and look for something equally as good to reinvest into.
Posted at 15/8/2018 12:14 by speedsgh
Early bonus for Esure investors, says Hargreaves -

Esure (ESUR) shareholders will see the benefits of improvements at the insurer earlier than expected following a £1.2 billion offer from Bain Capital, says Hargreaves Lansdown.

While the insurer yesterday reported a 20% fall in first-half profit before tax, investors were still basking in the glow of Tuesday’s 280p-per-share offer from Bain Capital.

The shares were trading at 277.4p yesterday, up 35% since the start of the week.

Analyst Nicholas Hyett said the offer’s ‘sizeable premium to market price’ meant ‘Esure will in all likelihood be leaving the stock market soon’. ‘With scope to improve the Esure and Shelia’s Wheels brands, as well as further improvements in underwriting, we can see the attractions for Bain,’ he said.

‘For shareholders, the deal means the benefits of those improvements will be landing in bank accounts a little earlier than expected.’
Posted at 15/8/2018 08:25 by masurenguy
belgrano - your own guess on whether another bid might materialize or not is as good as anyone elses. The major shareholders have all indicated that they will accept Bain's offer so that would appear to be the minimum takeout price.

If you sell now at circa 277.5p you will effectively be forfeiting 2.5p on the offer price on top of the lost 4.1p interim dividend. If you currently have an alternative investment opportunity, where you can immediately redeploy the ESUR funds, then you might want to sell now to take advantage of it. If not, you might as well hang on for the full 280p and the outside possibility of a higher bid materialising.
Posted at 13/8/2018 10:07 by masurenguy
Ha - I've been holding on waiting for a bid to materialize here. Would be quite happy if a deal went through @280p !

13 August 2018
esure Group plc

Possible Offer

The Board of esure Group plc ("esure" or the "Company") notes the recent movement in its share price and confirms that, having received an unsolicited proposal from Bain Capital Private Equity, LP and its affiliates ("Bain Capital"), it is in the advanced stages of discussing a possible offer for the entire issued and to be issued share capital of the Company by Bain Capital. Following discussions and a period of due diligence, Bain Capital has submitted a proposal to acquire all of the issued and to be issued shares of esure at 280 pence per share in cash (the "Proposal").

The Proposal represents:

-- a premium of approximately 37 per cent. to the closing share price of 204 pence on 10 August 2018 (being the last business day prior to this Announcement);

-- a premium of approximately 40 per cent. to the one month volume weighted average price of 199 pence per esure Share to 10 August 2018; and

-- a premium of approximately 29 per cent. to the three month volume weighted average price of 216 pence per esure Share to 10 August 2018.

The Board of esure has indicated to Bain Capital that it would be minded to recommend a firm offer for esure if made by Bain Capital at the price set out in the Proposal, subject to the agreement of terms relating to the Proposal.

esure is a UK registered company and any bid for esure is governed by the Code. Under Rule 2.6(a) of the Code, Bain Capital must by not later than 5.00 p.m. on 10 September 2018, either announce a firm intention to make an offer for esure in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

There is no certainty that an offer will be made for the Company. Bain Capital expressly reserves the right to:

a) make an offer at any time on reduced terms:
(i) with the agreement or recommendation of the Board of esure;
(ii) if a third party announces a firm intention to make an offer for esure pursuant to Rule 2.7 of the Code at a lower price than the Proposal;

(iii) if esure announces, declares or pays any dividend or any other distribution to shareholders, in which case Bain Capital reserves the right to make an equivalent reduction in its offer terms; or

(iv) following an announcement by esure if a whitewash transaction pursuant to the Code; and

b) introduce other forms of consideration and/or vary the mix or composition of consideration of any offer.

This announcement is being made with the consent of Bain Capital.
Posted at 04/5/2018 08:48 by speedsgh
Esure numbers reflect insurance trends, says Hargreaves -

Esure (ESUR) has seen policy numbers rising and the insurer shouldn’t be too concerned about price competition from comparison sites, says Hargreaves Lansdown.

Results from the insurer showed in-force policies rose 9.2% in the first quarter, driven by motor insurance, and premiums rose 18% thanks to an improving price environment. Analyst Nicholas Hyett said the numbers reflected more general insurance trends.

He said insurers would be hoping for a milder rest of the year after the Beast from the East blew ‘a great big hole in weather contingencies’ and any further flooding, storms, or a cold winter ‘all have the potential to seriously dent profits’.

While motor insurance is healthy, it is being offset by competition in home insurance market.

‘If big players are standing firm on pricing, then competition at the lower end of the market must be fierce indeed - price comparison sites strike again,’ said Hyett.

For Esure, underwriting is not a major contributor to group profits and as service revenues grow ‘a punch-up at the bottom end of the market is unlikely to bother Esure too much’.

The shares rose 1.2% to 226.4p yesterday.
Posted at 18/9/2017 11:45 by masurenguy
"Shares in motor insurer Esure have charged ahead of the wider market over the past year, gaining nearly 40% excluding dividends year-to-date. And this morning, the shares have added another 6% after a report published over the weekend suggested that the insurer’s biggest shareholder, Peter Wood was looking to sell his 30.8% stake in the firm. This report has sparked speculation that Esure could fall prey to a larger peer after Wood offloads his stake. According to the Sunday Times, which broke the story, Wood has already been approached by other insurance company bosses about a potential deal, and he believes he can have a deal in place by next month.

Chances of a takeover

It’s hardly surprising that Esure is being touted as a potential takeover target. The company is on track to nearly double revenue over the space of seven years, from £512m in 2012 to an estimated £900m for 2018. That said, profit during this period has remained stable. Still, the company has proven itself as a dividend champion since its IPO in 2013 having paid out 55p per share in regular and special dividends since 2013, around 18% of its IPO price. Analysts have pencilled in a dividend payout of 12.5p for 2017, giving a dividend cover ratio of 68%. Esure’s interim results showed that at the end of the first half the company had a solvency coverage ratio of 153%, indicating that the firm’s balance sheet is strong enough to support further generous payouts.

Esure’s strong balance sheet and record of steady cash distributions makes the company an attractive target for both peers and investors alike. While you should never buy a company just because it’s a rumoured takeover target — in case the deal never materialises — as a standalone business, Esure is an attractive investment in its own right. With a prospective dividend yield of 4.7% and forward P/E of 14.7, the company looks like an attractive income and growth play to me at current levels. The prospect of a takeover is just a bonus."
Posted at 13/9/2016 07:32 by masurenguy
RNS Number: 6197J
esure Group plc
13 September 2016

Proposed demerger of Gocompare.com

Rationale for the Demerger:

On 7 June 2016, the Board of esure announced a strategic review of Gocompare.com. As part of this strategic review, the Board has evaluated options to maximise the potential of both businesses and has concluded that the Demerger is the preferred option. The Board believes that the Demerger has the potential to deliver enhanced business growth and performance over time, and therefore shareholder value, by:

-- Creating two separately listed and focused groups, a leading UK provider of motor and home insurance and a leading UK price and product comparison website;

-- Improving Gocompare.com's ability to attract and retain technology focused senior managers, who would join a stand-alone entrepreneurial digital technology business;

-- Allowing the separate esure and Gocompare.com management teams to focus on pursuing their strategies independently;

-- Enhancing the ability of esure and Gocompare.com to align senior management incentives with the performance of the standalone business rather than the combined Group; and

-- Optimising esure and Gocompare.com for the relevant regulatory environments within which they operate and enabling each group to operate with an appropriate capital structure.

It is intended that Gocompare.com will be a premium listed company on the London Stock Exchange and that, on listing, the shares of Gocompare.com will be distributed to esure shareholders through an interim pro-rata dividend in specie. Costs arising from the Demerger are anticipated to be ca. GBP19m.

Capital Structure

Prior to the completion of the Demerger, it is intended that Gocompare.com will draw down on a new GBP75m debt facility and pay esure a cash dividend in the region of GBP63m. The cash dividend will cover the fees associated with the Demerger incurred by esure and provide additional headroom above the Group's solvency capital requirements ("SCR").

The esure Board has considered the risk appetite of the Group as part of the exceptional Own Risk and Solvency Assessment process under Solvency II. In light of the new Group composition, the esure Board believe an appropriate level of capital coverage of its SCR to be in the region of 130-150%. The capital surplus above the SCR provides sufficient headroom to absorb adverse capital events and should enable the Group to continue to meet its regulatory capital requirements which are unchanged post the Demerger. It is expected that the Group will initially operate in the middle to upper end of the range, providing flexibility to fund further profitable growth.

Following the Demerger, the Board does not intend to amend the current esure dividend policy, which targets a base dividend of 50% of underlying profit after tax and in addition a further special dividend, if the Group has sufficient capital and distributable reserves, after allowing for an appropriate buffer and future growth. The fees associated with the Demerger will not impact the Group's 2016 final dividend and will be adjusted for in the Group's 2016 underlying profit after tax.

Timetable

Further details in relation to the proposed Demerger will be provided in shareholder documentation which is expected to be posted to shareholders on or around 11 October 2016. The Gocompare.com management team will provide an analyst and investor briefing to present their plans for the Gocompare.com business in more detail. The briefing will take place on the day shareholder documentation is posted to shareholders. The proposed Demerger is conditional on esure shareholder approval as well as relevant regulatory approvals, and subject to those approvals, is expected to occur in Q4 2016.

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