Member Info for LLucan

Quilters a competitor of ABDN increased AUM by 2% in the same period to ver a 100 billion. Results also announced today. ABDN always blames the market sector it operates in for its failings. Others seem to mange!

It is time for the board to ditch Stephen Bird. His strategy is not working. ABDN could well be ditched from the FTSE 100 in September. Selling the Indian Investments and buying back shares does not inprove the business. It just makes the capital base smaller. The measure ABDN use of adjusted Profits per share have never covered the divi since he took over.

Something clearly is not working and I do not think it is all down to the "out of favour" sector they operate in.

Thanks lilo, I missed that.

The 2022 year end results were going to be published today. What has happened?

https://uk.finance.yahoo.com/news/british-tech-start-success-story-142717815.html

The only option I can see is for the shareholders to sue the directors personally for not carrying out their fiduciary duties.
The payroll is running at appox £30 million a year for a company that turns over £7 million a year. I would be staggered if this company survives.

Everyone knows that AIM shares are high risk. Money was not spent by the directors to put controls in place to ensure that a fraud does not happen. Having said that a company with an audited TO of £7 million, but being valued at £900 million is crazy. I anticipate that the company will not be able to continue trading. It seems worthless to me.

If you look at the salaries of the Directors they have taken millions out of the compaany in salaries. The compnay has not been profitable for many years if ever. It survived by "talking the company up" and issueing shares and a huge premium. Live off the proceeds until the next share issue. I doubt this comany will ever relist.

I suspect there are a few shorts out of pocket on this share. Seem to be closing quickly now.

Bettter results than expected and the market value is still only 73% of its net asset value.
Has a billion in cash, it has 3 billion of investments in Phoenix , HDFC (India) HDSC (China) it also owns ii which made £90 million contribution to group profit. They state that they paid about 16 times post tax profit for ii.
It seems to me they can keep the 14.6p dividend being paid for many years yet.
I am relaxed about this share. It can "weather" the storm and better times will return but it may take another 3 to 4 years.
It is stronger and more flexible than many of its competitors.

Well this will be positive. With regards to Petrofac I guess Asfari would have to agree to any offer for it to go throgh.

12p of todays fall is because the share is going ex div.

Sedaka: They have just reported brilliant results. The asian economies are all on the up which is where SC makes its money. No mgmt changes planned for at least 3 years. I am optimistic for the share price.
Mkt value to NAsset value 0.6.

The share buy back starts today. Appox 108 million shares will be bought by 29 September. Works out at about 750,000 shares bought every trading day on average. It will undoubtedly have a positive impact on the share prrice.

I am a long term holder. The business is much simpler now. The re****s come out on the 28 Feb, I believe and hope that the results will surprise to the upside. Regardless I am sure the divi will be kept at 7.3p.

OK I will clarify the events unfolded as follows.
Standard life and Aberdeen merged.
One of the largest clients of the merged group was Scottish widows.
Scottish widows said there was a conflict of interest now with the new merged group Abrdn looking after their asset magmt side.
Both scottish widows and the new group had a general insurance arm.
SO Abrdn kindly agreed to dispose of its general insurance arm to Phoenix for a 20% stake in Phoenix.
Shortly after the deal went through Scottish widows was bought by Lloyds who then decided actually we do not want Abrdn at all.
So Abrdn were fired, however not without a legal fight and substantial compensation being paid by Scotish Widows and LLoyds to Abrdn.

About 2 years ago when the new name was decided upon they decided to sell the standard life name to Phoenix along with a bit of extra business.

So now Phonix owns the standard life name and some of its business. Abrdn had 20% share of Phoenix that has been reduced down to 10% now.

So all the adverts on TV for Standard life are realting to Phoenix.

In the end Abrdn has done quite well since they have ditched all the difficult capital intensive Insurance business.

Now Abrdn owns ii and is just a huge fund manager. Nothing else really. No insurance business.

It has 10% stake in Phoenix and a big stake in an Indian Asset magmt company, HDFC, I think this is valued at about £1 billion.

Actually you are wrong about the volume. Considering the 2.89 billion shares in issue and usual volume levels. The volume going through is just normal.

I am a long term holder and are not unduly worried about the sell recomendations.
My experience is that share tipsters are nearly always wrong. The company is still very profitable. and valued at 7 times earnings. The assets under mgmt should inscrease substantially just because the market has increased. Higher performance fees.
The company has net assets of £7 billion and a mkt value of £4 billion. I am pretty sure the divi will stay at 14.6p per year for a few years. They have masses of reserves and receive £100 million divi income a year from phoenix and India HDFC.
ii I am sure will aslo contribute £60 mill this year. They have wriggle room to get their act together.

Despite their denial, I still think FAB will make an offer some time during 2023. SC is very cheap by any measure, and it meets a lot of FAB's ambitions by buying it.
I suspect the results of SC will be stellar this year, 21 Feb announcing, with a big shareholder give away.
Buy backs and divis.

$35 billion at 1.21 is £29 billion divided by 2.89 billion shares in issue .

My feeling is that the deal will go through. No doubt that the Abu Dhabi can get the money. London is not looking such a great place to be for a bank in a global world with 2 differnt systems.
Etc Etc.
Even if the deal did fall over I still think the bank is a good buy. The only caveat is if war breaks out over Taiwan.