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Just through 4 pages of comments and saw someone said that the market overreacted to the Irish situation. So I thought I'd counter that by saying that by saying that: the markets reaction isn't entirely linked with the comparative size of RSA's operation in Ireland nor the expected £70m hit RSA now expect. I reckon the main reason for the fall is a lack of trust. The insurance industry has seen its fair share of dodgy insurance operations. The most memorable of them was not even that long ago with the Independent Insurance company whereby the entire company went bust, the value of independent shares went to zero, and plenty of people lost a hell of a lot of money. I personally have met a guy who worked there who lost his job, his pension, and around £500,000's worth which he had in independent shares. What caused Independent to go bust? False financial and claims reporting. Amongst many things Independent's top brass did was have claims reserves that were far too low (so they could charge cheap premiums to undercut the competition), and they made out there was reinsurance in place (which acts as a safety net) when there wasn't. As a result of this fraud the company didn't go bust in 1998 like it should. Instead it won awards and it's CEO got some special honour too. The company stayed alive through financial and claims trickery for another three years before finally going to the wall in 2001. Those acts were criminal and the top 3 chaps involved all went to prison. As I said a lot of people got burnt and people don't forget. Markets don't forget. So RSA's Irish situation is much more than financial. It was serious, and should be treated as such. And, bearing in mind the chap I mentioned earlier, it annoys me to hear that commenters here think the market overreacted. Until it can be proved the false reporting from Ireland was a one-off thing and something that won't happen again, RSA's SP won't perform as it should based on what are some good fundamentals because the market won't trust RSA. It's as simple as that.

This is what I'm expecting - fewer shares but a higher price per share resulting in a value that is around the same / hopefully higher than what it is now. I've mentally prepared myself for the worst. Just waiting now. Does anyone know how long this process takes? The sooner I find out the better tbh Thanks for the posts, scare PS - I still haven't done any research into what happens in takeover situations. Apologies.

Touché mate. All the more reason to buy and to hold. Obviously I'm holding regardless and would top up soon if I had more funds!

But I don't think I trust this company. From having done a tiny bit of digging I found out the board paid themselves more than the revenue one year etc, and there's been too many instances I misappropriated funds etc to ignore.

It's comical how this finished exactly where it started today!

This is just a quick set of reasons as to why investing here makes a lot of sense: - Allenby Capital have given this share a price target of 130p, which is roughly 210% of the placing price. However this is not unreasonable based on the 1) the fundementals 2) Allenby Capital's glittering IPO record. This year 8 companies have used Allenby to float and, on average, the SP has risen 214% since. - the business model is superb. It is very light weight / low cost and with great profit margins which will improve even more so with the launch of their OTT service. It's therefore a Warren Buffett type share. - the company is in good hands. the BOD foresaw the limitations of their Yoomoo offering and therefore developed Yoonic. Like wise they can see that having an OTT service will make them a fortune but they can see how it has the potential to upset their Telco partners and so they're pricing the OTT service 25% above the service provided through the Telcos etc. - Expected revenue for 2013 is 20% up, from £3.9m to £4.7m - a great rise. However it should have been even higher. Had it not been for a regulatory issue in Indonesia supressing their revenues (and profits), revenue would have been £1.25m or so higher which would have given a revenue figure for 2013 of £5.95m. That would have meant revenue would have increased by over 50% this year. The Indonesian issue has been resolved and therefore won't affect the 2014 figures. As a result we can expect the 2014 revenue figure (and 2013 H1 figure) to be considerably higher. - For the above reason 2014 is going to be an amazing year for SyQic, and I actually think the 130p Broker Target is relatively short term / conservative in that context. - This is a high growth company that seemed to have cracked on to a winning formula. For that reason SyQic have fantastic prospects for the future and this price is relatively low. My Rating: BUY to invest

Not a problem mate. Having carefully read through the report I couldn't help but get excited. 2014 is going to be a HUGE year for Syqic so I'd get in now whilst you can.

It's wierd that the SP has dropped so much on the back of 35k shares being sold, don't you think?

http://www.insurancetimes.co.uk/1406058.article

that there was a decent bit of selling. Lets get rid of the speculators here for a quick buck early and then this can REALLY rise! The fundementals are strong with this one!

I do love this. I also love how the board foresee problems and solve them so quickly. They saw youmoo had a shelf life so they created yoonic. They saw how going for a huge market via OTT made tons of sense - more revenue and better margins - but didn't want to **** off the telcos so what do they do? They priced it above the telco offering and launched it in places to avoid competition / cannabilsation. The Board are geniuses and make me think SYQ is in safe hands, and you have to admire this very profitable business model :) What's not to love

http://www.allenbycapital.com/research/syqic041213.pdf This is a very thorough report. I played the devil's advocate whilst reading this, looking for issues and yet - having read it all - I'm now more confident than before that this share is a real winner! It turns out that syqic had a poor H1 due to a regulatory issue in Indonesia that meant it suspended operations there - and Indonesia was where the bulk of their 2012 revenue came from so proved a real issue. Since then they have resumed operations there and diversified geographically etc. The whole episode has really hit their figures for 2013 though, meaning it's £1.25m down on 2012's revenue from Indonesia. As a result the revenue for 2013 ought to be about 25% higher than the estimated £4.7m for this year. It kinda sucks that but it is a one off and therefore makes 2014 even more exciting! The business model is very lightweight and profitable, and therefore it's a Warren Buffett share tbh and all the more reason to love it. Therefore I advise people to BUY and hold for 2 years at the least :D

Great post zatcha. I recommended that. Also it's very interesting that the average IPO rise is 214% because 214% of 62p is 132.7p - almost exactly what their broker rating for SYQ is!

Based on the industry syqic is in applying a P/E ratio of 15 is reasonable. However that is based on 2012 figures. Bearing in mind the revenues for this company grew 400% from 2010 to 2012, the 130p target then looks very conservative. For that reason I'm expecting the SP to rise quickly, and especially once the 2013 figures come out! :D

Yes I do. As does my dad.

Already...

I do have an account on iiii but I've never posted there so it doesn't sound like me. I post on all sorts of shares though - tech companies, housing companies, mining companies, etc. I'm no expert anywhere so I don't limit myself to any one sector. In fact if I had to choose an area of expertise I'd choose insurance actually. Although I'm no means an expert. I just have an understanding of how insurance companies and markets work to a certain degree. That's how I know about the value of reinsurance (and also what effect it has on the balance sheet) etc.

I think there'll be quite some resistance there but the sp will sink beneath it in the short term. Psychologically that'll be quite significant - a real fall from grace from a very well respected insurer! If that happens I'll be buying in because, in the long term, the SP will be much higher! In insurance terms, we've been in a soft market in the uk and Europe, but things are becoming more stable now. I can't see the market hardening much in the near future unfortunately. However RSA exited the motor fleet market and therefore proves it is exiting unprofitable lines of business. It is also chasing the HUGE potential provided entering into emerging markets that rsa, and they are clearly doing very well from it so far. There's an excess supply of reinsurance at the moment which therefore makes it very cheap. Most insurers will be purchasing reinsurance products 1st January and they'll be at flat rates at the very least - which is great news for RSA when they're expanding into new territories. This is set to continue as long as pension funds keep picking reinsurance as the place to put their money, a trend that looks set to continue. So my prediction is the SP will drop in the short term (although 101p is a superb entry price) before rising to much higher levels in the coming years.

Took ages for my broker to get their act together! Now they have I have invested here at 77p - a price I'm more than happy with :)

Yeah mate. Took me ages to get to bushveld haha! ;)