Frp Advisory Share Discussion Threads

[wjccghcc] 27/11/2015 07:41

Hmm, all it says is that there will be no impact until the changes are implemented. A bit more information on their exposure would have been more useful.

[masurenguy] 27/11/2015 07:22

RNS Number : 1333H
Fairpoint Group PLC
27 November 2015

Response to Autumn Statement

Fairpoint Group plc, one of the UK's leading providers of consumer professional services (including consumer legal services), notes the comments made by the Chancellor in yesterday's Autumn Statement regarding personal injury claims. The Government's outline proposals, which remain subject to consultation, seek to restrict the ability for sufferers of minor whiplash injuries to claim compensation. The expected implementation timetable is April 2017 following a period of consultation in which the exact nature of the proposals will be defined. As such the proposed changes will have no impact on the Board's expectations of Group performance for the year to 31 December 2015 or for the year to 31 December 2016.

The notion of extending the small claims limit has been a topic of debate for some time and following the acquisition of Colemans LLP and its class leading Legal Processing Centre in August 2015, the Group has an operational capability designed specifically in anticipation of such changes. As such the Group is well positioned to take advantage of these market changes.

[spob] 27/11/2015 07:18

Rns response out

[topvest] 26/11/2015 21:00

Seems a bit of an over-reaction as with NAHL.

[speedsgh] 26/11/2015 17:27

Seems like an overreaction? Worth reading most recent Equity Develpment research note which provides a table with an overview of the group's activities, in particular within Legal Services.

See pg3 on the pdf -

AFAICS the only area that may be affected is within Volume Legal Services where they undertake some work relating to Road Traffic Accidents.

[rogash] 26/11/2015 14:43

Their claims division is mainly concerned with mis-sold financial services accoording to their website.

[buffythebuffoon] 26/11/2015 14:05

Down nearly 10% today.

Buffy

[rogash] 26/11/2015 13:51

does anybody know how much they are affectd by Osborne's statement? Can't see it beeing that much.

[tomps2] 16/11/2015 13:06

Video: a recent presentation by CEO and FD following H1 results

hxxp://www.piworld.co.uk/videos/2015/11/15/fairpoint-frp-presentation-to-investors-9915

[adamb1978] 25/10/2015 19:43

A1PAPPADINGDONG

The way to think about it is that the company has an equity value for 100% of the company (which is equal to the enterprise value minus net debt). And that equity value then translates into a value per share by being divided by total number of shares...so more shares should mean a lower share price (again, in theory, for options there is an option value which an optionholder has to pay to exercise the option, which therefore would reduce the net debt and hence an offsetting effect).

In theory, the market knows about these potential shares being issued so should already discount them being issued by looking at the fully diluted number of shares. Whether or not that in fact is the case is debatable and probably varies from company to company but I wouldn't be expecting the share price to fall when they are issued (partly also because them being issued will be accompanied by an announcement that the acquisition has performed well).

adam

[masurenguy] 22/10/2015 13:36

Seems to be a very illiquid share at the moment. Tried a modest top up to my original investment in July but no stock is currently available.

[shauney2] 06/10/2015 10:58

Continuation of the breakout on top of going ex dividend last week.

[a1pappadingdong] 29/9/2015 06:43

Hi Shauney

Thanks for your reply. I thought that any amount of shares being issued would dilute the share price, regardless of whether or not they are sold?

Anyway, I dont see any reason to sell at all, especially if they keep growing and making acquisitions such as this.

The information about the share options being directly related to the share price being above 200p is also very useful.

Thanks again

[shauney2] 25/9/2015 13:23

No short term because

"The vendors will be restricted from dealing in the 1,061,647 Earn-out Shares issued until after 30 June 2016"

and long term if Simpson keep out performing as you say the bottom line will grow.

Its also worth reading this RNS from last year re the Fairpoint Group PLC New option schemes


"The exercise price was set based on the closing mid-market price of the Ordinary Shares as derived from AIM for Friday, 12 December 2014. The options vest subject to performance conditions and continued employment within the Group. The performance conditions applicable to the options require that the Fairpoint share price must equal or exceed 200p for a continuous period of 30 calendar days at any time during the period to 15 December 2017"

Thats always been my target but you never know.Aim and illiquid so buyer beware.

[a1pappadingdong] 25/9/2015 12:07

Hi AllI to am very encouraged by the performance, but I don't fully understand the implications of these "earn-out-shares" coming onto the market.Will this mean a short term fall in the share price when the new shares are issued?Obviously the revenue and profits from Simpson Millar will add to the bottom line over the longer term.However I hold this share in long term and short term accounts. Long term I'm happy to hold, but I'm wondering if short term it's better to take profits before the 30thThanks in advance.

[pj 1] 25/9/2015 09:05

via twitter, cannot find any article though so pinch of salt

Jack Brumby ‏@jpbrumby 1h1 hour ago

Citizens Advice has warned that young adults facing ‘stifling̵7; levels of debt after borrowing from banks + payday lenders

[cwa1] 25/9/2015 07:51

Yes, delighted to hear that.

[masurenguy] 25/9/2015 07:32

A very positive development !

RNS Number : 1462A
Fairpoint Group PLC
25 September 2015

Payment of deferred consideration pursuant to the acquisition of Simpson Millar LLP

On 17 June 2014 Fairpoint Group plc ("Fairpoint" or "the Group") announced the acquisition of Simpson Millar LLP Solicitors ("Simpson Millar"), a consumer legal services business, the Group's entry platform into the consumer legal services marketplace. The consideration payable on completion was £7 million in cash (on a debt free, cash free basis) and 1,415,529 ordinary shares in the Group. In addition, there was provision for the payment of an earn-out of up to £6 million based on the financial performance of Simpson Millar for two 12 month periods ending June 2015 and June 2016 (a maximum of £3 million to be payable in each 12 month period). Any additional consideration payable in the two 12 month periods was to be satisfied as to 50% by cash and as to 50% by shares ("Earn-out Shares").

Simpson Millar's financial performance has exceeded the challenging financial hurdles set for the first earn-out period ended 30 June 2015 triggering the maximum earn-out for the period. Accordingly, the Group has today paid £1.5 million in cash and issued 1,061,647 Earn-out Shares at the previously agreed price of 141p per share to the vendors of Simpson Millar. The vendors will be restricted from dealing in the 1,061,647 Earn-out Shares issued until after 30 June 2016.

Application has been made for the Earn-out Shares to be admitted to AIM on 30 September 2015. Upon admission of the Earn-out Shares to AIM, the enlarged issued share capital, excluding 1,194,167 shares held by Fairpoint in treasury, will be 45,647,871. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in Fairpoint.

[hastings] 10/9/2015 19:42

A few thoughts that may also be of interest.

hxxp://www.cambridge-news.co.uk/Private-Punter-takes-look-Fairpoint-Group/story-27773056-detail/story.html

[davidosh] 08/9/2015 04:18

Some of you may want to join us at a Fairpoint presentation this Wednesday and you can ask management a few questions directly if you wish plus of course congratulate them on the excellent performance in the last six months or so...



There are a few more companies to see after lunch if you wish to make a day of it too.

[speedsgh] 03/9/2015 12:15

Half Yearly Report -

New Equity Development note...
Strong growth driven by legal services acquisitions -