Member Info for Jatw

A cash bid would be unlikely….and I would not expect one….just pointing out that a change in management makes MNG more vulnerable to approach. A merger can’t really be at much of a premium or one set of shareholders is losing relative to the other.

The problem with this analysis is it assumes all companies can be measured in the same way.
The insurance part of MNG is carrying many billions of capital….when this is not required it is released from the insurance fund but is not a profit as it already exists as capital. hence for a good few years, MNG will have more cash available than profits.
It’s challenge is to build the rest of its business so that when the inevitable decline in capital release happens new profits are taking over. Hence build wealth management services and grow aSset management strategies. And if the organic growth does not happen, A big merger will be needed to maintain senior management bonuses.

Btw, the FT reports that the MD of the asset management business is going to retire in 12m time….the change in Chairman and the retirement I of the CEO is triggering a cascade of other change.
Chairman appointed 2022
CEO retiring
CIO retiring
CFO appointed May 2022
COO appointed April 2022
CRO appointed end 2020
All this change makes a merger (takeover) easier to achieve as there is little further management change needed.
Why did Saudi buy stakes inMNG and PHNX - could they try to engineer a combination/asset swap?

A bit of a mystery that an apparently positive trading update has been met with virtually zero volume since. Yesterday 4 trades today 11 by 13:00.
No one seems to be interested…this is going to stay low for a while as no one wants it.

For me the new piece of info was that the grid scale battery is generating cash and EBITDA of around 5m pa.
The question remains how this translates into profit, what it cost to build for I, and critically what the DA is. As these develop as projects the realistic returns can be estimated ore accurately. Expect some broker updates as the pipeline matures….hopefully upwards. RBC increased by 10p….

Hopeful this will be a reliable source of income.

Portfolio news continues to be positive.
Interim results on Friday….could be a good week.

So much for the creation of a Scottish champion…such a waste
It seemed such a good idea to sell the insurance back book to PHNX and cash in the Indian JV to pay for the merger costs and dividend and then to squander 1.5bn to bolster the wealth management business just as the market falls out of love with the platform sector. II must be worth all of £750m now.
V disappointing should have sold out a long time ago.

Ha ha Sorry for the fat finger error.

ABCam, currently the largest stock on AIM, has announced a plan to move to a single NASDAQ listing.
ASOS has already left.
HCM likely to move up in the rankings…..unless/until it decamps to HK.

Two acquisitions at around $200m each, one agreed and a second under negotiation.
The piedmont buy seems a little speculative but assume there is confidence in the to be launched products. The second seems to be a commercially positive deal.

I know…unbelievable…..but click on the broker ratings icon and there it is.
Will have to see the reasoning but it is a bold move to call a further 50% fall.

The change to IFRS17 will take some ti e to feed through into the market understanding, there is a risk of write downs and restatement of accounts which will certainty drag on any M&A and be another reason to avoid the sector…..having said that as confidence builds in 2924/25 those who have bought mis priced assets in 2023 could be on to a winner.

The critical numbers will be net customer cash flow, and relative investment performance pointing towards a sustainable increase in business fee income, and capital position to support paying the dividend.
The former numbers are what management need to work on, the capital position has been strong and will be expected to stay strong….
All financials are leveraged on the overall market performance, so the sp movement may reflect more on the market than the company….it is relative movements that will show this as a winner /loser v Aviva Lgen SDR and others and support buy/sell views.

Barclays starts coverage at 100p reported on this website.
Stick or twist?

Last year the trading update was on 13 august….

Accompanying the announcement of the largest Contract signed by Just was confidence in meeting or exceeding the growth targets for 2022 and beyond.

Surely a rerating is in the offing.

Goldmans have always been close to CKHH…
There is scope for cost reduction and pursuit of the best portfolio by M&A….question is does the communist party support it and who will be brave enough to attempt to become bigger and potentially be a target for china’s vested interests

Happy birthday.

…the historical comparison…..EMs are volatile and sentiment can change quickly.
It will be interesting to compare the presentation of 11 Feb 16 with the next results to see what is different 6.5 years on, then we can compare management analysis of the situation and take our views….I would like to be optimistic about EMs, but the geopolitics between US and Russia and US/ china are worse…and the blow back on EMs could be severe (Eg Sri Lanka, which has made its own mistakes but is heavily affected by the strong dollar and increase in fuel costs)…..let’s see what management says and what the market makes of the results before commenting further.

Thanks for

I wish they would provide some commercial data with these announcements such as cost of this phase and potential addressable patient populations.
Is this pure science? Or a material prospect? We have no indication.