Tellworth British Recove... Share Price (BRIT)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Tellworth British Recovery & Growth Trust plc	LSE:BRIT	London	Ordinary Share		Ordinary Shares

	Price Change	% Change	Share Price	Shares Traded	Last Trade
	0.00	0.0%	280.25	0.00	00:00:00

Bid Price		Offer Price	High Price	Low Price	Open Price

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Nonlife Insurance	1,302.10	149.10	34.80	805.3	112,227

Last Trade Time	Trade Type	Trade Size	Trade Price	Currency
-	O	0	280.25	GBP

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Date	Time	Title	Posts
09/6/2015	10:37	* Brit *	169
29/9/2011	21:03	I don't like America	12
27/6/2008	23:28	Concept of A British Bank Owned by The British	7
17/5/2007	09:35	Arnt we really silly Brits	56
25/10/2006	20:03	How far back are "British Muslims " admitting being British?	-

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Posted at 07/2/2023 08:20 by Tellworth British Recove... Daily Update Tellworth British Recovery & Growth Trust plc is listed in the Nonlife Insurance sector of the London Stock Exchange with ticker BRIT. The last closing price for Tellworth British Recove... was £280.25. Tellworth British Recovery & Growth Trust plc has a 4 week average price of £0 and a 12 week average price of £0. The 1 year high share price is £0 while the 1 year low share price is currently £0. There are currently 400,452,960 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Tellworth British Recovery & Growth Trust plc is £112,226,942,040. Read Full Thread Reply
Posted at 07/6/2015 07:31 by topvest Yes, received mine. Wonder whether BRIT will be listed a third time at some point otherwise, it's goodbye BRIT. Read Full Thread Follow Reply
Posted at 26/5/2015 08:22 by speedsgh Note no mention of a "final interim dividend payment" as I suspected (see post 160)... We should all at least be getting our money soon. Offer Declared Unconditional in All Respects - HTTP://www.investegate.co.uk/fairfax-fin-hlgs-ltd/rns/offer-declared-unconditional-in-all-respects/201505260701381914O/ 2. Offer declared unconditional in all respects As all conditions relating to the Offer set out in the Offer Document have now been satisfied or waived, FGL is pleased to announce that the Offer has been declared unconditional in all respects. Accordingly, cash consideration will be paid within 10 days of the date of this announcement to those Brit Shareholders whose valid acceptances have already been received. Payment of cash consideration in respect of valid acceptances received after the date of this announcement will be made within 10 days after receipt of each such acceptance. Brit Shareholders who have not yet accepted the Offer are encouraged to do so without delay. Full details of how to accept the Offer are set out in the Offer Document, a copy of which is available on Fairfax's website at www.fairfax.ca/britoffer and Brit's website at www.britinsurance.com/ir/fairfax-offer. The Offer will remain open for acceptance until further notice (such notice not to be less than 14 days). 3. Level of acceptances As at 16:26 (London time) on 22 May 2015, FGL had received valid acceptances of the Offer in respect of 372,423,871 Brit Shares, representing approximately 93 per cent. of the existing ordinary issued share capital of Brit. Read Full Thread Follow Reply
Posted at 15/5/2015 07:25 by cwa1 Brit 283p to sell at moment. Will be asking for my shares back soon..... Read Full Thread Follow Reply
Posted at 12/5/2015 11:53 by wirralowl I'm unable to sell online anymore and HL have now assigned zero value to my BRIT holding, with the following note attached: 9 This stock is an interim line resulting from a corporate action that will be exchanged for cash and/or stock. Read Full Thread Follow Reply
Posted at 10/5/2015 11:15 by martinc I'm puzzled that Barclays are listing my Brit shares under the EPIC BRIA, but only at 154.5p/share. I'm assuming that it's a techie quirk and will fix itself, but it's a bit disconcerting. Read Full Thread Follow Reply
Posted at 08/5/2015 10:48 by denbos There seems to be a lot of shareholders tied to the offer. I believe that the 'tie' is only temporary. This is from the offer : Accepting shareholders should note that they will be able to withdraw their acceptance of the Offer at any time prior to the Offer becoming or being declared unconditional in all respects, but not thereafter. Acceptance of the Offer by a Brit Shareholder before the record date for the 2014 Dividends will not prevent that Brit Shareholder from becoming entitled to receive and retain such dividends. Read Full Thread Follow Reply
Posted at 24/4/2015 13:40 by speedsgh MartinC - I believe the offer has to go wholly unconditional. Previous announcement was only 'unconditional as to acceptances'. HTTP://www.investegate.co.uk/fairfax-fin-hlgs-ltd/rns/offer-unconditional-as-to-acceptances/201503231620002279I/ "Subject to the Offer becoming or being declared unconditional in ALL respects, settlement of the consideration to which any Brit Shareholder is entitled under the Offer will be effected, in the case of acceptances received by the date on which the Offer becomes or is declared unconditional in ALL respects, within 14 calendar days of such date. Notwithstanding the foregoing, FGL will, to the extent practicable, pay for tendered Brit Shares within seven to ten calendar days from such date." AFAICS the offer to date has not been declared unconditional in ALL respects. Read Full Thread Follow Reply
Posted at 24/4/2015 07:44 by martinc Does anyone know when the cash should arrive? My Barclays account has changed my BRIT holding to "BRIA Brit (Assd Ffhl Grp Cash)", which suggests it's on the way. I've read the RNSs, and I thought it says settlement should be 14 working days after it goes unconditional. and I thought that had happened? Read Full Thread Follow Reply
Posted at 17/2/2015 08:31 by guernseymoney Can I please ask - are those that hold planning to sell now or wait for divi/buyout? 280p plus dividend of ?? Am not sure what to do... ps: FT blurb as follows: Canadian insurance group Fairfax has swooped for Brit, agreeing to pay £1.2bn for the FTSE 250 insurer, less than a year after it was listed on the London Stock Exchange. The UK insurer remains majority owned by Apollo and CVC, which have been exploring ways of selling their remaining stake. The FT reported yesterday that a sale of Brit was close. Fairfax has obligingly tabled a 280p a share offer, and existing shareholders will also still receive a 25p cash dividend for 2014. That represents an 11.2 per cent premium on the closing share price yesterday. The board of Brit has unanimously recommended that shareholders accept the offer, and both Apollo and CVC have signed irrevocable undertakings to sell their shares. Prem Watsa, the Fairfax chairman and CEO known for contrarian bets on the eurozone periphery like the Bank of Ireland, said: We welcome Mark Cloutier and his market leading specialty insurance and reinsurance team at Brit to our expanding global specialty platform. Brit has an outstanding track record over the last ten years and will continue to operate on a decentralized basis once owned by Fairfax. With the acquisition of Brit, Fairfax will have a significant top five position at Lloyd's of London. We look forward to working with Mark and the entire Brit team to further develop their business over the longer-term. Read Full Thread Follow Reply
Posted at 16/2/2015 20:23 by guernseymoney from FT: The private equity backers of Brit are in detailed talks to sell the FTSE 250 insurance company less than a year after it launched on the stock exchange, according to people familiar with the matter. Bankers said several parties — including at least one based in North America — had expressed an interest in recent weeks in buying Brit, which is majority owned by buyout groups Apollo and CVC and has a market capitalisation of £1.1bn. An announcement about the future of the Lloyd’s of London insurer, which provides a wide range of specialist cover for areas from shipping to kidnapping, could come as early as Monday night, the people said. All parties declined to comment. A transaction would be the latest sign that mergers and acquisitions activity in the specialist insurance and reinsurance sector is heating up. Intense competition has depressed premiums in important lines of business, such as catastrophe reinsurance, encouraging underwriters to consolidate. New York-listed XL last month agreed to buy the largest Lloyd’s insurer, Catlin, for about £2.8bn. Three weeks ago, two New York listed insurers — Axis Capital and PartnerRe — agreed an $11bn merger. The sale of Brit could allow its private equity backers to generate higher returns than if they were to sell down their stakes further on the public markets. Apollo and CVC sold a quarter of their stake in Brit in an initial public offering last spring that raised £240m. The duo had acquired the company for £888m in 2011. Shares in Brit struggled after listing at 240p, slumping to as low as 204¾p within a month of the IPO. The insurer’s stock price has since recovered as deal activity has underscored the attraction of Lloyd’s underwriters to prospective buyers. The shares, which have also been supported by the prospect of a chunky dividend payout, closed at 274.4p on Monday. Apollo retains a 40 per cent stake and CVC a 34 per cent in the insurer, whose largest institutional shareholders include the BAE Systems pension fund and CCLA, which manages investments for local authorities and charities. Brit, chaired by the former Lloyd’s of London chief executive Richard Ward, has seen its shares continue to trade at a discount to its London-listed peers. While the company trades at a premium of 43 per cent to book value, Hiscox is on 81 per cent and Beazley 69 per cent. The insurer is expected to pay a special dividend when it discloses its debut results as a public company next week. Numis has pencilled in a special dividend of 4.2p a share on top of a basic payout of 18.7p. The broker forecasts Brit’s annual pre-tax profits will rise from £106m to £155m. Bankers are expecting more dealmaking in the industry. Smaller reinsurers of natural catastrophes that operate in Bermuda, and at the Lloyd’s of London market, are under particular strain. Read Full Thread Follow Reply

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