Member Info for Gerry557

Yes Its my own words. No. that "when" should have been "if" Yes, this bb can provide the questions and I might ask them if there not covered. Not sure I understand the last half of what your asking?

What questions would you like the board to answer on the next conf call on the 9th. Hopefully they will clearly state what has happened, the corrective action and timescale. Although often they don't include anything like this. I wonder if they will publish the PcW report in full but I doubt I will have time to digest before the conf call. Also map the future which has initially started over the capital position but not exactly how this will be achieved. We can all speculate over things like divi cuts or cancellation or possibilities or which bit they should sell. Maybe the regulators will be the driver here rather than the board. I'm not sure they will talk about takeovers ....... unless they have lovely assets. So list all your questions and hopefully they will all be crossed off after the announcement when the details provided cover them all

After the big rise yesterday I thought it would loose half of that today, I'm surprised it hasn't. Maybe its the bid speculation keeping it afloat. Im gonna make a terrible trader

The company did have net cash worth more than the share price plus ongoing litigation against apple and microsoft. It will be nice to see it back but in what guise? I gave up following all the goings on. It was a tech company, now ??? maybe I will look a bit closer when its back. Im not selling for 75p either but it looks like we may me outmaneuvered if were not careful. I think I will sit on my hands with this one for a bit longer but have no expectations on what the share price will do. The limited offer should up the price temporarily but then .........?

Yes I too was wondering if I should trade this and sell my second batch leaving me with a smaller in profit holding. Then when the divi is cut/cancelled its likely to be a down day to get back in

Market likes the news, not yet released. 5% bounce

RSA previously stated that all the Irish holes had been uncovered. Hopefully there will be some meet on the bones after the update. Often it is what is not said that is more telling. It will be nice to have some news that is not negative but there are still many questions to be answered, see alb1ons post. Also what will happen to the suspended staff, which should also tell a bit more of the story. Although they tend to resign and get to keep handsome amounts of wanga rather than go to prison when wrong doing has been found.

Happy New Year back. Just think everyone was busy elsewhere

Hi alb1on, again liked reading your observations. Going forward though, I take it that now this issue has been highlighted it is quite simple to modify the companies policy to correct for this, abit at the expense of profit and or not renewing premiums to cut liabilities. Leaving the board with the simple task of obtaining extra reserves of capital from somewhere to appease the regulators and keep the credit rating.

coaster, I got my heads or tail call wrong but got what I wanted. Even markets like it!

Tim Ingram, non-executive Chairman of Greencoat UK Wind, said: We are pleased at the response to the capital raise from private and institutional investors. We believe this demonstrates the continued attractiveness of Greencoat UK Wind's model: providing investors with long-term, predictable returns and enabling wind farm owners to reinvest the capital into their development programmes." Looks like it only got 60% of what they were after. The original IPO was over subscribed. I wonder if the comments by politicians and the talks of scaling back subsidies in the news played a big part. I think asking for another 3rd of the company didnt help. Debt reduced but £50M still outstanding, there were hoping to reduce this to zero. I dont think this would be classed as a successful operation

Thanks alb10n, interesting take on the takeover prospects. Im not sure the longer holders would be happy with a 130 takeover but its seems ok looking up from down here. As for a plan going forward I hope that if its just aggressive reserving this can be adjusted. Make you wonder if this is more than the Irish unit and you would expect the board to agree rates in each area. I thing you right about the regulators, if they can work it out at all then they were err on the too safe side. Make you wonder what the auditors looked at too.

alb1on, I liked your insights into probable goings on. I was trying to determine if it was human error with bad policies or something more criminal. You would think it would be set up so that a 5 year old with basic maths and an ounce of common sense could see how to run it but realistically I'm sure they use some algorithms that should be monitored and updated to get better figures. I does make you wonder where the internal QA was or if they were sidelined. I also wonder how important the regulators and credit ratings are going to be as this could force RSA to cut its nose to spite its face and be force into selling and in effect make itself weaker, in a never ending cycle. Longer term it could use the profitable areas to replenish it reserves but I doubt it will be given the time, nor may the board want to do that course of action.

I know things look grim but I would loke to point out that its the top FTSE100 riser and the SP seems to have steadied slightly. (That is likely to be the kiss of death now but I thought it was worth mentioning.)

Well it looks like my RSA buy is not going as hoped but more as expected. The board now describe the capital as "adequate" but would like it to be "more comfortable" Capital is the No1 priority although they have no plans for capital raising. There were discussions regarding selling of assets or disposals. There is a big indication that the dividend is under threat. This was no confirmed although all options are on the table. There will be no acquisitions in 2013/2014 They are confident that the £130M injection for Ireland is the final amount and have left no stone un-turned. Hopefully they have identified the cause of this error/problem/management issue so can start taking steps to resolve going forward. I'm not sure how much trust/faith I would place with the board and hence on the comments above. I suppose they have to appear swan like, calming things on the surface whilst they are beavering away behind the scenes. No amount was placed on the amount of capital required or what the regulators what but there are continual conversations ongoing. I suppose it might depend on what they can sell off in the short term. Amounts in the region of £500M are muted elsewhere. The final divi was supposed to be £250M !! Details will be announced in the results in Feb. Clearly RSA is having a bad time and uncertainty is never good for share prices. If this is a good company in a temporarily bad time it could be a good time to buy. The Ireland part is only 4% and there were some good figures from other areas. I suppose RSA is between a rock and a hard place and they need to start dancing cleverly. Let the speculation begin on divi cuts, takeover target and rights issues

http://www.telegraph.co.uk/finance/markets/questor/10520020/Questor-share-tip-RSA-is-a-high-risk-buy.html

Looks like a divi cut ahead ""The impact of events in the last quarter will need to be taken into consideration when the Board determines the 2013 final dividend recommendation in February 2014." Will this now open those gates to hell or increase takeover talk? Looks like the fingernails have been ripped out trying to cling to that ledge

http://www.cityam.com/blog/1386920133/rsa-insurance-chief-simon-lee-quits-amid-irish-problems

you have been calling for it

Fool seem to contradict themselves at times with some of their articles. Dont be to hard on yourself. You bought at what you thought was a good price. We cant always time the bottom. As long as we get close ish Im happy. Like you said give it time and collect the divis. Some months back it was in the 1800s and before that less that 1250, remember the us banking issues . Be glad you didnt buy at the top. Mine has dropped a tad since last purchase but the markets are down. Hopefully its only temporary and we have bagged a positive asset going forward