R&q Insurance Share Discussion Threads

[lord gnome] 18/3/2018 13:06

Given that column's recent record, it is no recommendation. Even so, BearBull is bound to get one right eventually.

[sogoesit] 17/3/2018 10:30

Chronic Investor’s Bearbull has it as a buy for its Income Portfolio this week.

[red ninja] 05/3/2018 12:39

Mmm, current trade volume shows 54k.
I wonder if they have been tipped in some publication or other.

[lord gnome] 05/3/2018 08:49

Being moved up strongly on no printed trades this morning. Either big trades not printed yet, or the market has a reason for the move that us mere mortals will discover later today.

[speedsgh] 05/2/2018 13:35

AM Best Rating Announcement -

Broker Forecast: Numis issues a broker note on Randall & Quilter Investment Holdings PLC -

Numis today reaffirms its buy investment rating on Randall & Quilter Investment Holdings PLC (LON:RQIH) and set its price target at 195p.

[lord gnome] 08/1/2018 09:04

Tom Booth has been dumped then. I wonder what he did to deserve that? The saving on his salary must for pay a lot of the pay rises and promotions.

[jonwig] 08/1/2018 07:14

List of senior management changes contains a trading statement:

R&Q continues to make excellent progress. The simplification of the Group is proceeding well, most recently with the completion of the disposal of our Lloyd's Managing Agency to Coverys. Further disposals are expected to be agreed and announced shortly.

The pipeline of new business opportunities remains strong, particularly in the high growth areas of insurance legacy and programme business, which is mostly reinsured to high quality insurance carriers.

The Group has also made good progress with deployment of the cash raised in the recent funding round.

[alter ego] 02/1/2018 08:15

perhaps it's small in £s if not in % - I too was surprised by the choice of adjective

[jonwig] 02/1/2018 07:34

Acquisition:

The agreed purchase price is £1.5m and represents a small discount to Constantia's pro-forma net assets of £3.4m.

Is this a whole new meaning to the word "small"?

[ganthorpe] 07/11/2017 10:30

On one holding I got 82% of what I applied for , on another I only got 71%.
It seems to vary when holdings are in nominee name , depending on what the other nominees do.
The 82% quoted above was in Alliance ISA and I have found that I always get a higher excess allocation there as many other holders don't bother to apply at all.The more on the ball the broker is , the lower the allocation it seems.
GAN

[speedsgh] 06/11/2017 13:59

Would appear my excess application has been scaled back to just under 79% of those applied for. Awaiting written confirmation.

[lord gnome] 31/10/2017 17:59

Looks like a few who have had notice of their allocation have already sold in the market for a quick buck. Doesn't take much to move the share price.

[hugodscott] 31/10/2017 10:03

For those who are interested in the allocation / scaleback of the Open Offer, I have had just had this from R&Q:

"The excess shares were oversubscribed and were subject to a scaleback to approximately 70% of the excess shares applied for. For details of your allocation you would need to contact Computershare or your broker."

[speedsgh] 30/10/2017 15:28

Result of GM & Open Offer announced. Expecting excess applications to be scaled back...

Result of General Meeting and Open Offer -

...The resolutions set out in the notice convening the General Meeting have been duly passed.

The Company also announces that under the open offer of new ordinary shares ("Open Offer"), it received valid applications from Qualifying Shareholders (as defined in the circular posted on 6 October 2017 (the "Circular")) in respect of an aggregate of 3,309,117 new ordinary shares, being the maximum amount available under the Open Offer...

[red ninja] 26/10/2017 12:28

Mmm I applied for more than my allocation, but can't see that I'll get too many more as I believe the extra shares will be scaled down.

[speedsgh] 25/10/2017 10:18

jonwig - Likewise, depending on how one defines 'lots'. Have applied for excess on top of measly Open Offer entitlement. Hoping to increase holding by c25%.

[jonwig] 25/10/2017 10:02

I applied for lots of extra shares, but if I get all of them I'll maybe sell a few. Result of issue on Monday (30th), dealings on Tuesday.

[alter ego] 06/10/2017 17:33

AFAIK, If you hold shares in an ISA, it makes no difference but outside an ISA, paying a return of capital defers any tax liability until you sell shares. Even then, since a return of capital reduces the overall cost of buying the shares and increases any CGT gain, you may still avoid tax by using your CGT allowance.

[lord gnome] 06/10/2017 15:35

I am completely indifferent as to whether I receive distributions via dividends or return of capital. All I want is the cash in my bank account. I do see the point, however, that using return of capital makes it look to many potential investors that the company doesn't pay dividends.

[jonwig] 06/10/2017 14:47

speeds - as far as the OO goes, I'll be keen for more - see the NAV uplift.

And dividends: I think RQIH might have escaped some filters which will have recorded zero until now. (Digital Look, for instance.) So it generates interest in the future? Just a thought. Taxwise, I'm indifferent, as my holding is in an ISA, but some large holders might prefer ROC.

[speedsgh] 06/10/2017 14:34

I note they they have agreed to review whether distributions should be made via dividends, rather than via capital returns, in future. The outcome of this will presumably depend largely on the tax status of the main shareholders & Mssrs Randall & Quilter.

from pg11 of the Corcular pdf...



12. DISTRIBUTION POLICY
The Group operates a progressive distribution policy. Distributions are made bi-annually and are typically paid in May / June and October / November. New Ordinary Shares issued under the Firm Placing and Open Offer will not affect this policy. New Ordinary Shares issued under the Firm Placing and Open Offer will be eligible for the dividend payment expected in May / June 2018. Without pre-judging the outcome, the Board has committed to reviewing whether it would be in the interests of shareholders to look at paying dividends rather than capital returns (which form the basis of the current distribution strategy). For the avoidance of doubt, any such change will not affect the progressive nature of the policy.

[speedsgh] 06/10/2017 14:26

RQIH are raising a fair chunk. Having already raised £16.9m gross in March 2017 - - they are now looking to increase their share capital by up to 43.5% to raise up to £49.3m by way of a firm Placing and a 1-new-for-every-26-exsting Open Offer. Existing shareholders may apply for additional Open Offer shares over & above their basic 1:26 entitlement via the Excess Application Facility (see pg9 of circular pdf).

[speedsgh] 06/10/2017 14:07

Circular: Firm Placing, Open Offer & Notice of General Meeting -

[stemis] 05/10/2017 16:57

Second fund raising in 8 months...

[lord gnome] 05/10/2017 10:43

One out of left field. I don't think anyone saw that coming. We are losing our eponymous founders next year as well. That was on the cards, but I thought they might look to sell the company ahead of retirement and take their cash into the sun lit uplands. Interesting that the placees seem to have insisted that the Directors put some more skin in the game.