Member Info for BlahBlahDoh

In the original RNS announcing this redemption it clearly stated "Intention to redeem US $1,000,000,000 6.50% Notes" and went on to describe the type of notes. This morning's one just says (if you look carefully) "Fixed Perp NC5.25". I'm guessing they are the same thing? It's hardly surprising if people misunderstood, it seems almost intentionally misleading to use such an obscure description, so different from the previous one, in what purports to be news service.

Reading it again, pretty sure this relates to the Perpetual Subordinated Capital Securities they intend to redeem in December. So, nothing big after all - apologies for my billion dollar b/s.

Price seems to be reacting to this: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PRU&ArticleCode=fpps0tvo&ArticleHeadline=Pre_Stabilisation_Notice For some reason it is written in awkward and presumptive language without providing proper context or explanation, rather than readily understandable English, e.g.: "In connection with the offer of the above securities, the Stabilisation Manager(s) may over-allot the securities or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. However, there is no assurance that the Stabilisation Manager(s) will take any stabilisation action and any stabilisation action, if begun, may be ended at any time" Never seen one of these before. Does anyone know what "offer" it is referring to? It reads like advance warning that action will be taken against speculators. Something big imminent?

August Pru sold its US independent broker-dealer network to LPL Financial for an initial US$325 million (may increase to a maximum of approximately US$448). September Prudential plc announced it's intention to redeem US $1,000,000,000 6.50% Notes (Perpetual Subordinated Capital Securities) in December 2017. Two directors picked up significant amounts of stock: Anthony Nightingale, chair of remuneration committee, bought 20,000 shares at 1,788p apiece, for a total of �357,600. recently-appointed Thomas Watjen, another member of the remuneration committee, picked up 2,750 american depositary receipts at $47.822 each, total of $131,510.5. AIG was removed from the "systemically risky" list by the US Financial Stability Oversight Council (FSOC), leaving Prudential as the only remaining nonbank SIFI (systemically important financial institution). Prudential said it was "encouraged" by AIG's removal from the SIFI list and would continue to contest its designation.

You predict "talks" will fail, when they've already concluded, and then raise your target? Peculiar imagination, and I shudder to think how much you must have lost shorting this.

or ARMageddoff? From the RNS: "One party has not confirmed whether its interest in the Imagination Group has terminated and accordingly it remains a potential offeror for Imagination for the purposes of the Takeover Code."

more than £1 lower than the share price before the Apple crumble. Chinese getting an amazing bargain if no-one reacts. The few months of proper management have hinted at the true potential, but with some real oomph behind them ... imagine

27.27%, is that a record? MMs apparently don't want anyone to buy or sell!

Blair Crump (President) acquired 15,000 over the last couple of days - seems to have lifted Sage nicely in a falling market. Good news likely?

The Apple keynote event starts at 6pm

Probably, it's natural to fret about Trump or Kim giving us a haircut, but at least Pru is Brexit-proof. The p/e ratio is only 13.42, which suggests it is still undervalued. The share price sometime lags, but the underlying position seems to keep improving. The well covered dividend is set to rise into the future, which should hopefully attract more income investors. I think it is well positioned for further progress, even if there isn't a break-up.

"Told you ages ago IMG was heading south back to £1.20 level but did anyone listen ?" Pardon? It's gone up slightly since you stopped shorting it ( :

Strange similarities - 2 year deadline, shock split between UK and previously close foreign partner, dispute over divorce settlement (if any), sudden unexpected upturn in business, utter confusion over what happens next.

Rumours from the FT last week that the merger of UK operations is a prelude to a sale, then the Sunday Times reported a potential buyer (L&G): http://www.proactiveinvestors.co.uk/companies/news/182374/legal-general-plans-to-bid-for-prudential-s-uk-annuity-business-182374.html The UK/Europe is apparently permanently less profitable than other regions of operation, so a sale would effectively increase profitability, albeit reducing diversity. Presumably this won't happen for some time, if ever, but tantalising to speculate what could potentially happen to the billions released - acquisitions in developing markets, a special dividend, a big bonus for the asset strippers?

Ha ha, I'm not that young myself James, and yes I posted that last one in the wrong thread. Good results anyway! Good luck.

Hi James, "Made 15.36% more in the first 6 months of this year 2017 than it did in the first 6 months of Last year 2016." "I don`t do my calculations on what is" theoretically possible",as you see from above i do like for like periods." You made a theoretically impossible calculation at the beginning of the thread, based on compounding an imaginary six month increase. What made you change your mind?

Hi James, We're on the Prudential chat board. You mentioned the Pru when you started this thread. The link I provided earlier points to Pru's results. Pru reported an increase of 15% at the half way stage. Lloyds didn't. Sorry if I'm being obtuse, but why are you suddenly pretending you were talking about Lloyds?

Hi James, Yes the period being reported on is six months, but we're talking about the 15% change, which is a comparison of this six month period and the equivalent six month period last year. The 15% increase is derived by comparing the profit over the first 6 months of this year against the profit over the first 6 months of last year. The things beings compared are one year apart. So the rate of growth is an annual rate. The AMOUNTS being compared occur over two separate 'first 6 month' periods, but the INCREASE is the change from one YEAR to the next. The increase shows the difference between one half year and the equivalent period last year - an ANNUAL difference. It is theoretically possible to compute a six month rate by comparing this years interim profit against the second half profits from last year (i.e. last year's full year profits minus last years interim profits). That is never done in an interim report, because first half and second half are not equivalent periods of profitability, and don't give a useful comparison.

Hi James If you look at the results you'll see that the 15% is a comparison between 2017 half year and 2016 half year: http://www.prudential.co.uk/news/news-releases/2017/10-08-2017 So that's where the "Annual increase" comes from - a difference over a one year time period. Where does your 6 month increase come from? Good luck. BBD

Compounding a 15% annual increase over 2 years gives a result of 32.25%. In any case the 15% rise in operating profits includes 10% due to currency fluctuation, so not really a figure you can sensibly extrapolate from. Nevertheless, another tremendous set of results, ahead of analysts expectations. The 12% increase in dividend is great news. While paying less than some blue chips, the return is growing rapidly and is well covered by galloping earnings. The merging of Pru UK and M&G looks like it's driven by cost saving and probably aims at moving more interaction online as the next generation of UK customers ages. Sad to finally see the end of M&G as a separate entity after so many decades, but short term cost for long term gain seems prudent, and the timing feels right. The company apparently made a comparison between African markets today and Asian markets 20 years ago - glad they are getting involved, vast potential, but the challenges there should not be underestimated. Barring extreme market turbulence, these results will surely propel Pru over £20 in the next few months - the numbers stack up.