Member Info for KNIGELK

Excellent posts. Two points 1) no deliberate attempt on my part to distort the facts as only invested late yesterday and the results were quite long and complex - so apologies if this appears the case - my point was that I felt there was an initial shock over reaction (perhaps not) 2) I am looking at this on a short term trading view - I agree there are now quite a few long term issues 3) until yesterday - there were virtually no one posting here!

Well the share price is now a little below NAV so it will be interesting tomorrow... working in the final salary pension area for a large employer I know that probably 80% of people simply do not have much knowledge about pensions. I just do not expect everyone to suddenly give up on the guarantee of a monthly income to have a taxable lump sum instead. Remember if they use the lump sum they will only have the state pension to depend on. I expect damage to the industry but probably more people will take the lump sum while others take a larger lump sum but maintain some in the pot for future years (to stay at the lowest taxable rate) or will buy a smaller annuity to ensure some income. It's going to be interesting and companies will have to think of new hybrid products or move to other areas like care/protection...

HL say this measure is subject to consultation - so there may be amendments to the proposals before April 2015. It will be interesting to hear the pension insurance industry views over the next few days...

We welcome proposals to ensure all consumers receive free advice at retirement. Financial advice to those at retirement could significantly increase the use of the open market option from current levels of 20%. This could increase significantly the number of people who shop around and decide to purchase a non-standard annuity.

RNS at 6.29pm - very late in the day...

You are quite right about non standard annuities and seems oversold imo - broker had a share price target of 550p not too long ago!

Well I have taken a small position here and on PA. as the reaction has been simply carnage due to the shock factor - might have got the timing wrong and the shares might fall further but personally feel £2 s/b reachable here again in the next 1-2 weeks. Not really read all the budget comments yet but would be interested how this effects final salaries and the option of 25% TFLS there?

Annuitisation has not been mandatory for several years, yet 90% of consumers continue to choose wisely to secure a guaranteed income for life by annuitising. The proposed reforms suggest more choice for all retirees, ensuring better value for money for those who continue to annuitise.

60% fall - but a similar fall in forward profits? Don't forget the rates have been dire recently and the market in general difficult. There is also the unexpected/shock factor causing the sell off - I personally see a smallish bounce but it might take a few days gla

Question is whether this is worth an quick short term trade or if it's still a falling knife? The share price is not returning to £3.00 again in a hurry IMO

All insurance companies have been hit this afternoon and I thought the results of £131 million profits were ok - indeed the share price was doing fine until this statement! About 10% of revenue is focused on "care" and "protection" so they better focus on getting this portion of revenue up by March 2015. 3p maiden dividend too. What could happen going forward is consolidation within the industry - ie. some companies may be taken over...

Some people will still take annuities - this measure provides more options for those at retirement age. For example, some will not wish to pay 40% tax on 75% of the fund - oversold IMO

How can you pick up 50 million shares aka 30% of the share issue just like that? Surely there has to be a seller too?

OMG! Been some activity today and a tick up! I was starting to think the share was on life support!

Been all buys the last few days - a great time to add imo just ahead of results and/or contract win update gla

Why? Do they still hold shares here or now completely separate companies? Has an quick look and US$ 35 million cash was due to move across to LEN but market value is still just £12 million - so there's upside there imo

Yes but without much chart history as the demerged company, it is hard to work out a fair share price. Cash held US$ 3.6 million (£2.3 million) with market value now £ 2.9 million - so already at a NAV premium. However, sentiment towards cash shells may be changing and you only need to look at VMP (1200% NAV premium!!) so know what can happen with the right guy/backing involved. Well done long termers and at least it has now come to the attention of others.

Don't we have to factor in the demerger to work out fair value here? The charts are meaningless due to the short history of this company post demerger - one to watch but I'm not chasing gla

Is it a sign? lol

Well done those who got in under 0.055p yesterday :-) now should we hold for developments or bank an quick 20% profit - might split the difference and top slice lol gla