Hansard Global Share Discussion Threads

[deepvalueinvestor] 24/7/2014 20:03

Interesting, the note I saw more positive so I remain a buyer in ISAs for the yield

[cockerhoop] 24/7/2014 08:11

Pretty poor

Only £11m new business at lower margins in Q4 with prospect of the same in 2015 Q1, Writs increasing and no sign of the Japanese suspension lifting.

[skinny] 24/7/2014 07:11

Hansard Global plc ("Hansard" or "the Group"), the specialist long-term savings provider, issues its new business results for the year ended 30 June 2014 ("FY 2014").

Summary
· We successfully launched our new sales and distribution strategy, and a range of new products and a refreshed branding, in the last week of March 2014. Launch events around the world during April and May generated considerable interest among Independent Financial Advisors and policyholdersand will provide a platform for sustainable diversified new business flows;

· New business of Hansard International Limited of £83.0m PVNBP in the year ended 30 June 2014 is approximately half of its prior year new business volumes, as anticipated, due in part to suspension of activities by a large distributor in Japan;

· New business margins on the PVNBP basis for FY 2014 are approximately 4.0% (Q3 2014: 5.5%) primarily as a result of reduced sales volume;

· We will shortly submit to HMRC our assessment of potential liability in relation to the issue of Chargeable Events Certificates previously announced. Our estimate of the Group's exposure, including professional costs, remains unchanged at £5m;

· Writs totalling approximately £5.9m remain outstanding against the Group (FY 2013: £3.9m).

[pvb] 01/7/2014 19:04

President of the Board?

Will we live to see an Archduke of the Board?

[skinny] 01/7/2014 10:08

With effect from 1st July 2014:-

1. Dr Leonard S Polonsky CBE is appointed President of the Board. He remains a non-executive director but ceases to be the Chairman of the Board;

2. Mr Philip Gregory takes on the role of Chairman of the Board. He retains the role of Chairman of the Group's Nominations Committee but ceases to be the Senior Independent Director and Chairman of the Remuneration Committee; and

3. Mr Maurice Dyson takes on the roles of Senior Independent Director and Chairman of the Remuneration Committee. Mr Dyson remains Chairman of the Group Audit Committee.

[skinny] 26/6/2014 07:49

Yes, it looks that way @5m shares.

[deepvalueinvestor] 26/6/2014 07:43

I think it is only moving around between the family after his recent purchase. Nobody is selling.

[fangorn2] 25/6/2014 13:09

A little lightening of his stake by the big man...

Polonsky reduces to 37.7% from 41.34%

[mister md] 02/6/2014 12:48

Mr Polonsky gets 4.5 million in dividends based on his new holding assuming dividend payout levels remain the same - not a bad bit of income ;)

[pvb] 01/6/2014 17:05

OK, thanks for that.

I think, like others, I feel rather 'suspicious' of the business. I know they have been an operating business for a long time, before flotation, so there must be some kind of valid business model. Though it seems to have been based on high margin business. Certainly in the West this kind of high cost (to the client) financial operation has declined, one can't help wondering how much longer non Western clients, however wealthy, will accept it.

Perhaps that is why their sales team has had less success in recent years?

[deepvalueinvestor] 01/6/2014 16:53

They are administrators so get a fee for funds under management and regular savings plans. This means they missed out on the equity rally as most of the underlying clients just want a low risk chunk of their assets in the west. Typically 15% of their wealth.Indeed, rising interest rates would hurt but with increasing wealth in emerging markets they should be getting more investors sheltering funds. Their sales teams haven't done a great job in recent years though and this is why the share price is so depressed but a move to regular savings has improved the quality of the business and reduced the reliance on selling new products. I'm no expert on their business but this is my understanding.

[pvb] 01/6/2014 12:28

The reason they have struggled is that their clients in emerging markets want safe investments in the West so lots of fixed interest.

Could you explain this further, deepvalueinvestor? Why should it matter what the nature of their client's assets are? And if it does, I wonder what happens to their assets if/when their clients 'safe' fixed interest investments are exposed to rising interest rates in the West.

[deepvalueinvestor] 31/5/2014 21:26

I called the company as I didn't believe it but yes he now sees value and wanted to add. The reason they have struggled is that their clients in emerging markets want safe investments in the West so lots of fixed interest. Back on my buy list again, perfect for income seekers buying in ISAs

[pvb] 30/5/2014 17:58

I guess he can afford it! Only about 2% of what he made on the float.



I really don't understand the business of this company, but I still find myself asking: If it can't make money in a bull market for shares and investments when will it make money? A bear market? Why?

With it's share price ups and downs, this company looks to be a good trading stock for those so inclined.

[cwa1] 30/5/2014 14:46

A 2,000,000 on market share purchase at 90p by LEONARD SELWYN POLONSKY. That shows a bit of faith! Now holds over 40% of the company:-

[pvb] 06/5/2014 21:12

I remember when it was an 11% yield. And that was on a higher share price!

[deepvalueinvestor] 06/5/2014 19:45

Horses for courses. For those who are cautious on western markets but like the long term story on emerging markets, the 10% yield within an ISA is enough of a reward for patience. Having said that, they do seem rather accident prone don't they?!

[fangorn2] 06/5/2014 10:34

Yep, not great news at all. Rather glad I never pulled the trigger. Other Finance is a tough area across the board, with margins falling across a variety of structured products. A torrid time for the last few months.
Eg Insurers and their juicy annuities to come to an end. Etc etc.

Going to sit on the sidelines for the foreseeable future.

[envirovision] 06/5/2014 09:23

So glad I sold out a while back as well, this is presently uninvestable and stuff like -- We have recently identified weaknesses in the Group's procedures in relation to the issue of Chargeable Events certificates required by HMRC. We are at an early stage in quantifying the impact of this issue but we currently estimate the Group's exposure, including professional costs, to be approximately GBP5m; is enough to scare me away for a very very long time indeed, also the claims suit still seem to be ongoing and never ending, horrific stuff

[robsy2] 06/5/2014 07:19

Yes good luck . I was a holder some while ago. This is a struggling organisation. Glad I'm out.
R2

[skinny] 06/5/2014 07:17

Summary
· A successful launch of a range of new product features and a refreshed branding in the last week of March 2014;

· New business of Hansard International Limited of £72.1m PVNBP in the period is 44.8% below Q3 2013, as anticipated;

· We have recently identified weaknesses in the Group's procedures in relation to the issue of Chargeable Events certificates required by HMRC. We are at an early stage in quantifying the impact of this issue but we currently estimate the Group's exposure, including professional costs, to be approximately £5m;
· New business margins on the PVNBP basis are approximately 5.5% (H1 2014: 7.5%) as a result of reduced sales volume;

· Following recent settlements, writs totalling approximately £3.5m remain outstanding against Hansard Europe (Q3 2014: £11.7m);

· An increased interim dividend of 3.40p per share was paid to shareholders on 3 April 2014.

[pvb] 04/4/2014 16:25

Fangorn2,

Loved his opening at the presentation:-

Paraphrasing

'Before I talk about the company I'd like to talk about ME!'

And then went on to list his previous achievements - in real time!

Oh Gawd! :-(

Glad I'm out. At a loss, so explains my cynicism in a way...

Best of luck to those who still hold.

[fangorn2] 04/4/2014 08:28

Yes, it was a sight to behold. My one concern would be his over zealous focus on expansion, as he illustrated with a run through of his CV. But he seems to have managed such effectively, we don;t however know whether there's been any fallout since at his previous employers..

But am very optimistic that Hansard will provide a decent return,especially if they secure some of the "Linkups" they're hoping for.

[cockerhoop] 04/4/2014 08:21

Fangorn2,

Loved his opening at the presentation:-

Paraphrasing

'Before I talk about the company I'd like to talk about ME!'

And then went on to list his previous achievements - in real time!

[fangorn2] 04/4/2014 08:08

Missed the rise myself, disappointingly so.
On the watchlist as the future, under the helm of their new "energetic" salesman looks bright.