Resources In Insurance Group Share Discussion Threads

[davidlloyd] 29/5/2013 13:24

So the next announcement will be tomorrow and will be something erring on the positive i guess given buying today after absolutely diddly squat for ages. Nudge nudge, wink wink. Tsk, it's always who you know in this game, not honest investment. Aimho of course.
Hey ho.
DL

[ibs7491] 29/5/2013 12:33

pretty tight spread can sell 500k at 0.215p...
ps away for round of golf hopefully blue for my return...

[beginner3] 29/5/2013 12:28

1428 shares were actually buy, up to 100k you can buy at 0.215p!!

[ibs7491] 29/5/2013 12:25

hopefully doubles soon,took advantage of lower share price and bought more earliar,gla

[loverat] 29/5/2013 12:21

Yes - must be the biggest volume day since the last announcement. Given the silence and how far this has fallen one would think an RNS simply stating there is still a pulse would double the share price. Any reasonable results and/or new contracts might do alot alot more.

[ibs7491] 29/5/2013 11:31

bit a buying this morning,news must be due soon...

[loverat] 04/5/2013 12:48

That's about 8 months since an update.

I would have thought we would have heard something by now - particularly with the growth and opportunities in the PPI work. I expect something soon.

[jimmy12345] 30/4/2013 01:17

jeez do they only update investors once a yeaar or something?

no wonder the share price is in the doghouse, has anyone phoned them ?.

still not an investor here. just keeping an eye. wont be till i see better communication thats for sure.

[davidlloyd] 29/4/2013 13:09

the silence is deafening.........

DL

[sirraman] 15/4/2013 09:15

anything happening at this company ...no news for months....!!!

[loverat] 23/2/2013 17:01

This is an article on Bob Morton who bought a stake in this not that long back. This article does not include RIIG as written before his investment here but should give folks an idea of his history and possible reason and criteria for investing here.



Published in Investing Strategy on 26 November 2009


Bob Morton is an activist investor worth following. Here are 12 companies he's put money into.

Arthur Leonard 'Bob' Morton, aged 67, is a well-known serial entrepreneur, reputed to be worth around £100m.

Unfortunately, this former Chartered Accountant (who used to offer clients tax advice) can be rather media shy and was unwilling to comment on his business interests -- despite my efforts to contact him. What is known about him is that he has a string of investments in private and quoted companies. He is also the Chairman of quite a few of them.

Strategic approach

Morton has been very successful over the past 40 years by investing in business start-ups and turnarounds.

Euro Exhaust Centres was his first big success, which he built up from scratch in the 70s, before it was reversed into Kwik Fit in 1979 for £11m. In the 80s he took the publicly quoted Burgess Group from a market cap of £1m to £100m in three years, eventually selling it for £350m. These are just a couple of his many success stories.

In the quoted sphere he has recently specialised in quoted companies that are in difficulty or he believes are not being managed properly. Certainly, because of the inherent risks involved in such companies, some of these holdings haven't performed that well. However, who is to say that he won't eventually turn a profit on most of these investments.
Criteria for investment

Morton has previously outlined what he looks for in an investment. It can be summarised quite simply as:

The financial position -- he looks at the numbers and decides whether the company is a basket case, incapable of being helped or not.
The management -- is the management any good, as he puts it "at the end of the day people make money, money does not make people."

He tends to see things in pretty black or white terms, people are either 'winners' or 'losers' and, as you'd expect, he is single-minded in protecting his investments. For example, he is currently attempting to oust the chairman of Media Square and has called a General Meeting.
Quoted investments

Aside from buying into a company directly, he also uses two Jersey-based investment vehicles, Southwind and Hawk Investment Holdings, in which to make strategic investments.

I've managed to put together the following list of quoted companies in which he currently has an interest, although it is probably not comprehensive:

Vislink (LSE: VLK) -- A total of 14.9% of the issued share capital through Southwind (11.3%) and Bob Morton (3.6%).

Media Square (LSE: MSQ) -- 7.1% of issued share capital through Hawk Investment Holdings.

St Peter Port Capital (LSE: SPPC) -- 3.7% of issued share capital through Hawk Investment Holdings (0.4%) and Southwind (3.3%). Chairman of the Board.

CustomVis (LSE: CUS) -- 23.8% of issued share capital via Hawk Investment Holdings.

Tenon Group plc (LSE: TNO) -- 7.1% of the issued share capital through Southwind. Southwind 7.12%. He is Chairman of this company too.

Armour Group Plc (LSE: AMR) -- Via Southwind he holds 19.2% of the issued share capital and is also Chairman.

PSG Solutions (LSE: PGS) -- 18.5% via Southwind.

Servoca (LSE: SVCA) -- As Chairman controls 29.9%, 20.6% via Southwind and 9.3% via Hawk Investment Holdings.

WFCA (LSE: WFCA) -- He is Chairman and via Southwind has 16%.

Clarity Commerce (LSE: CCS) -- via Southwind he has 14.9% of the issued share capital.

Adili (LSE: ADIL) -- He owns 48.0% via Hawk Investment Holdings. Special permission was sought from the Takeovers and Mergers Panel to waive Rule 9 of the Takeover Code back in October 2008, so that Hawk didn't have to make a takeover offer to all holders of the shares.

Daniel Stewart Securities (LSE: DAN) -- Owns 3.7% via Hawk Investment Holdings.

Unfortunately, to ascertain the price at which he bought is a piece of detective work that I've been unable to complete in the time at my disposal. However, I reckon it's worth your while if you considering buying one or more of these companies. This is one investor I'm sure is going to continue to make money!

[loverat] 18/2/2013 17:55

The results might be then but I would suspect there may be a trading update soon. In previous years they have done this in Feb or Apr. Plus in theory if there are any new contracts they should be announced. I am thinking something soon because the last news out of this company was 6 months back.

[soggy] 18/2/2013 13:03

Just looked back, it was May last year. So probably a wee bit to wait yet.

[soggy] 18/2/2013 13:02

does anyone have a date for them?

[chicken] 18/2/2013 12:04

Nice buy this morning of a million shares..results must be out soon!

[davidlloyd] 08/2/2013 14:27

I hope so. Getting very fustrating here seeing all my other shares moving the right way and this sitting tight at all time lows.....

DL

[loverat] 05/2/2013 11:27

Chicken

It seems the opportunities are there. Hopefully this company is capitalising on them and we will finally hear something soon. If the news is good I predict a big move up here.

[chicken] 05/2/2013 11:12

Barclays have announced they are doubling provisions for the interest rate swaps scandal..presuming RIIG are moving or have moved into this area as well as PPI.

[chicken] 09/1/2013 12:42

Suprised there hasnt been an update...nothing since Augist! Floods and increased PPI claims should be good when it comes.

[sirraman] 20/12/2012 15:00

one would think the BoD would have soemthing to say via a regular trading update ...jut to let investors like us know what's going on ???

[davidlloyd] 19/12/2012 10:15

Hopefully positive :-/

DL

[loverat] 18/12/2012 09:26

I suspect people waiting for news. I would imagine the previous announcements of potential new contracts would translate into something soon and quite possibly see a return to that level.

Overlooked for now and marked down on small sells. Folks who can afford to buy some at 0.22p and leave for a few months are possibly the ones who will make the most money on positive announcements. And it has been no news for some time now so I think there will be something soon.

[sirraman] 17/12/2012 09:51

So anyone know what's happening here.... after the placing at 0.5p ??

[loverat] 31/10/2012 16:12

MP

If G wants a chat about that then let me know. Happy to pass on any knowledge I have which might be useful.

[monkey puzzle] 31/10/2012 14:23

Hi Loverat,

Your services are desparately needed over at PINN please.....asap if you could.