London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Absolutely...I'll be adding even more now ...very detailed and professional update
It sounds like it all chugging along, finger in air calc was 30p-40p nav, plus whatever differences the $30m obra sale and any further sales make
Excellent news
Summary:
✅ R&Q secured lender approval for the sale of Accredited to Onex Corporation.
✅ Regulatory approvals are ongoing, with some already received.
✅ The sale is still expected to close in Q2 2024.
✅ -Up Agreement reached with lenders, outlining terms for debt restructuring, sale consent, and use of proceeds.
✅ Discussions with regulators are ongoing, with some approvals already granted.
✅ Expected net proceeds from the sale are now between $65 million and $110 million.
✅ Proceeds will be used to reduce debt while maintaining liquidity for ongoing operations.
✅ R&Q is still exploring options to maximize value from its legacy insurance business.
RNS update, all coming together
Updated the numbers within the wiggle room window
"Net Cash Proceeds on closing are now expected to be between approximately $65 million and $110 million "
They had £220m wiggle room between current mcap and the original estiamtes of NAV post sale
And that’s
“Adjusted for closing of the Sale and subsequent de-leveraging of R&Q assuming Available Net Cash Proceeds of $170 million (at the lower end of the expected range)”
Not much has changed since the deal announced in October, interest rates have only moved a quarter %.
Because the deal hasn’t been signed yet
Mark@1973
Yes Accredited is RQIH's jewel in the crown.
Yes the money will partially bail out legacy, but I doubt it will be enough to make up all legacies losses.
If there was a surplus here I ask myself why the funds aren't hovering up the share ?
In the Presentation, R&Q provides an associated plan for the R&Q Legacy business, although it should be stressed that the ability of R&Q Legacy to achieve such objectives depends on many factors, including not least a successful closing of the Sale and the paydown of R&Q debt. This plan includes that:
The refocused business and strategy is expected to deliver operating profitability by full year 2025
Fee income is targeted to be doubled in 2025 compared to H1 2023 annualised
Expenses are anticipated to be reduced by 15% to 20% in 2025 relative to an adjusted annualised H1 2023 expense base that includes certain assumptions around Legacy’s standalone cost structure
As R&Q returns to profitability, it will review its dividend policy, subject to constraints due to relationships with lenders, regulators and preferred shareholders
The Presentation also outlines R&Q’s expectation of $100m+ of cumulative surplus capital to be generated over the next ~5 years as claims payments are made, releasing capital held against reserves. This is in addition to the estimated $40m - $80m of additional collateral R&Q will be required to hold against existing legacy exposure retained by Accredited, which R&Q expects to be released and available over the next 5+ years as the underlying exposures are reduced and eliminated.
@RedNinja
https://www.rqih.com/news/update-on-proposed-sale-of-accredited/
Or trades printed for an hour. Or is that just LSE? Possible order filling?
Similar plan, everybody holds and you get your spike, if people keep buying at 3p and selling for 3.03p then it's never going to move. What sounds better...a £30 profit or £3000 profit...pointless trying to educate jittery day traders
Good luck to all investors. Definitely due a positive jump. Well undervalued in my opinion.
I’m not gonna be surprised to see them increase further @Laura 👍
Yes Mark
The price is due to breakout this week amd this has been coupled with block buying all week ...
There has been NO holdings RNSs ďeapite 60% institutional holdings
In fact only one since Feb has been a USA fund increasing
This is really not a hard one to invest in or even trade over the medium term.
Buy now or hopefully you’ve already bought sub 3p and wait until the deal is done 🤷♂️ if you’ve crunched the numbers then it’s easy enough to see a route back to the placing price ( 60p ) once this has happened.
That's really kind mropz
Lets face it the legacy business continues to make loses when will that stop ?
It has to start moving before the end of week if these volumes continue,anything offered just under or just over 3p is gone quicker than a popsicle in the sahara lol ,one day rodders one day :-)
*RQ has had a relatively huge interest since when it’s normally Trading less than 250k a day.
Another >5m volume day, about 30m volume churned since the latest drop in 8 trading days.
RQ has had a relatively huge interest since when it’s normally
Laura2022 definitely isn't a ramper. If you look at past comments, they're generally well thought out, based on facts imparted in RNS's etc, non-provocative and usually make good sense (unlike others posting on here).
These past comments/recommendations demonstrate a good understanding of potential upcoming opportunities and value investing and the success they can deliver.
They said the same on SND at 3p (now 4.5p)
Ignore the doomsters
When we get lift off, this will fly, not long to wait :)
Plenty of tears spilt over this one, only gamble with cash you are happy to LOSE !