Resolution Share Discussion Threads

[ch1ck] 13/9/2011 09:59

I bailed out at 300p the price looks oversold to me I have returned to day to buy back in. Time will tell if the timeing is correct

[anony mous] 25/8/2011 10:33

ganthorpe,
what's your take here ? (short term)

[ganthorpe] 25/8/2011 09:51

40 million share buybacks is only about £100M towards the £250 million target and the 1.64 billion still in issue.
It's like re-arranging the deckchairs on the Titanic - it will make no difference.
I would much prefer a capital distribution to all shareholders.
GAN

[anony mous] 24/8/2011 15:41

Since June 2011, RSL has bought & cancelled over 40 million shares.

[anony mous] 23/8/2011 14:51

next stop 2.80p

[anony mous] 23/8/2011 14:09

any changes here ?


June 2011:

Resolution rated on payout hopes

RBC raises Resolution (RSL.L) price target to 400p from 350p and rates the insurance company consolidator outperform.
Investec cuts Resolution's price target to 617p from 636p but rates it a buy after it announced plans to return £500 million to shareholders and to abandon its acquisition strategy.

[samwn1] 22/8/2011 21:44

From ADVFN Newsdesk :

UBS thinks that things could take a while to improve for insurance buyout firm Resolution and slashes its target for the stock by 14%.

Resolution's life business made a 4.5% return on embedded value in the first half of 2011, less than the year before and significantly under the 10% target, the broker notes. UBS sees the target as challenging and forecasts 6.7% in 2013.

The broker keeps its neutral rating on the stock and cuts its target from 301p to 260p, "as we see a re-rating as unlikely until operational performance improves."

[samwn1] 07/8/2011 22:57

I can't say that I'm a great believer in chartism, but don't the abnormal market influences make the process even more unpredictable?

[badtime] 05/8/2011 10:13

lol....no idea

[skyship] 05/8/2011 10:04

Chickened out first thing @ 250p - saw them rally to 258p - back to 250p & reckon I'll just sit this out....

Anyone got any targets for the bottom here? 233p? 210p?

[skyship] 04/8/2011 13:12

Will certainly buy if it falls as low as 253p:

[skyship] 04/8/2011 13:09

Soooo tempting @ 264p - especially when one considers the likely 35p return from the ordinary divi + the special divi this year. Also the Interims in just two weeks. But in these markets, is it better just to be holding CASH & waiting...

Remember the 7 Jun'11 statement:

Cash return to shareholders

Resolution is today announcing the results of its work on the cash and capital position and policies of the Friends Life group. Key elements include:

-- a targeted return of excess cash to shareholders of GBP500 million via:

- an on-market share buyback of GBP250 million commencing tomorrow; and

- a further GBP250 million of cash to be returned in the first half of 2012, following receipt of the necessary approvals, subject to the delivery of planned capital synergies of GBP235 million which are being announced today which are expected to be delivered in 2011;

-- the potential to return further cash resulting from further capital synergies and potential releases under the currently proposed Solvency II regime;

-- these returns are additional to the Company's previously announced cash and dividend targets;

- the Company's distributable cash target remains at GBP400 million per annum after interest costs from 2011 without reducing the MCEV of Friends Life;

- the Board will continue to keep under review the appropriateness of the Company moving to a growing dividend toward the end of the UK Life Project; and

- the GBP500 million cash return will not reduce the aggregate dividend capacity and therefore the Company's dividend per share is expected to increase accordingly;

-- the UK Life Project remains on track to deliver its targeted returns; and

-- the Board confirms that Resolution will be exclusively focused on the UK Life Project.

Commenting on today's announcement, Mike Biggs, Chairman of Resolution Limited said:

"Today we have set out our clear and transparent capital framework for the enlarged group. This along with our strategy statements in February and our results in March have highlighted the strong value potential from the UK Life Project. We are pleased to demonstrate the delivery of this value through our cash returns announced today and from our strong dividend commitments."

[essentialinvestor] 22/7/2011 19:22

Good post.

[envirovision] 22/7/2011 18:52

Simples really, no one invested in RSL so that they could end up owning a small highstreet bank did they, so would hardly be fair would it and I dont expect the RSL shareholders would let him do it if he wanted to.

As for RSL, shareholders made it clear last year they did not want to undergo yet further fundraising for another life insurance co smash and grab but wanted some consolidation and cash back.

That seems to have worked as ever since the share price has started to recover.

Maybe the shareholders would be a happy with things as they are and the cash that gets thrown off and a safe dividend.

[liquidkid] 22/7/2011 14:45

What I can't for the life of me understand is why Mr Clive Cowdery is bidding for the Lloyds retail branches through a seperate entity other than Resolution. It's as if Resolution has got the drop, into the bottom drawer; I'm off to buy a bank.
Only a short time ago...
June 2010 plan to buy and merge as many as four U.K. life insurers by 2013
Aug 10 "Resolution added fund managers to its list of potential targets"
Nov 10 - Resolution has hinted it may look to complete a series of smaller acquisitions rather than of scale
17 Feb 11 - FT - Resolution puts the brakes on acquisitions

The whole original purpose of Resolution was to buy stuff, now what - from an investment point of view its going to wallow around for an eternity - yes it will chuck off some excess cash occasionally but this now another dead zombie.

[diku] 18/7/2011 13:55

But what I can never never understand is buy backs have to be approved at the AGM resolution...investors very well know that when the buybacks occurs price drifts lower...I have never heard of any buy backs in the PLC World getting rejected at the AGM!...Why?...

[samwn1] 18/7/2011 13:47

It normally indicates a company that's run out of ideas, this is a vote of no confidence in my view. Albeit in a falling market.

[diku] 18/7/2011 13:38

Think this will touch the ex rights price of 250p again...

Buying own shares is normal practice for share price to go down...

[samwn1] 13/7/2011 10:32

Clive will give you a good price.

Thank goodness he's buying not selling.

[badtime] 12/7/2011 20:47

luck...and i havnt sold yet :)

[skyship] 12/7/2011 13:35

280p - a well-timed nibble - congratulations.

[badtime] 12/7/2011 11:03

nibbled at 273

[skyship] 12/7/2011 08:16

274p .... closing in on the target buying area. Personally too nervous to do so however. Would rather miss a profit than risk a loss!