Member Info for Marcus_

At the moment it is still just an offer, the offer needs to be approved by SAGA share holders and then the shares issued. Which if memory serves will be on the 5th October and I think that is post consolidation so the price and number of shares will be either x15 times more and x15 times less respectively.

Yes, kernowlad. But HL didn't.

They had to send out a corrective email at the end of last week. Which most people will not have read if their inbox is anything like me.

I only picked up the correction from posts on this board.

SMorty welcome to the board and your first post. Not exactly a brilliant start.
If you had been here a while and took the time to read before treating this like the sewer that is Twitter by straight off attacking another user, you would have realized that some of the confusion has been caused by brokers.

One of the biggest Hargreaves Lansdown issued the share offer with an option to take up more than the basic allocation.
Either the broker got it wrong or the information to the brokers from Saga was not clear cut.
Either way it is understandable why people would get confused as people have opted for that option only later to be told it had been removed.

Smorty try reading rather than shooting from the hip

I see the daily fail has used all its usual resources to write an inciteful and in depth journalistic wonder. They have talked to 2 shareholders who are down a bit at the moment.

No analysis of the deal beyond the current SP being at the offer price.

A positive end to the week???

If I had spare capital I'd buy some more at this price and hold for a short temr rise. Sadly I'm maxed out at the moment.

Surely one thing we can agree on is that this near decade long investigation with no charges brought is in itself a harsher punishment in terms of destruction of capital, loss of income and tax revenue and jobs than fits the crime (if indeed one took place).

If a charge had been brought at the start and PFC took a fine there is no way the fine would have caused as much harm as the never ending investigation has. The company would have took a short term hit and recovered.

But without any charges the company cannot even consider taking an early guilty plea and move on (regardless of whether they are guilty or not).

This is industrial destruction over a crime which even if true harmed little to no one in the UK, certainly when measured against the harm caused by the SFO by dragging their heels and not bringing a charge.

Jointhedots, you have just provide advice on a share investment etc etc.

Calm down, everyone here is entitled to give an opinion, if someone choose to follow slows or your pattern of investment that is their choice. Its not professional advice.

I may also cancel taking up the offer as at 11.4p the additional charges become less of a barrier. Why buy at a higher price?

If this goes much lower I may cancel my take up of the offer any buy off the market.

Surprised it has drifted this low.

It would need to be about 11.5p for me to cancel the open offer and buy off the market given stamp duty etc.

Sorry I must have misunderstood your original post.

Interestingly the shorts seem to have all closed their positions

https://shorttracker.co.uk/company/GB00BLT1Y088/

Millennium International Management LP closed theirs on Friday when we had that small bump up to 13.5p, bizarrely they had only increased their short the day previously. Someone must have pressed the wrong button (lol)

Batfasted I think 27p is somewhat optimistic.

Maybe if everything goes to plan then 27p in 12 months is not out of reach, but if it hit 27p in the next 2 weeks it would drop down again as people profit take on the 12p shares they have just bought.

I can see a small bounce to 15p in old money but 27p would be a huge turn around, the capital raise minimises the risk of the company defaulting on its current covenants but it does not solve the problem of all the debt.

Most of the debt will be there and currently only the insurance division is servicing that debt.

In other news the Saga 3 year deal on insurance will not be so unique if the regulator has their way, in the news this morning it is proposing to make insurers limit how much they can raise premiums for existing customer to the same price a would be offered to a new customer

So I can see more companies following saga and offering deals longer than 12 months.

Pianista its worth keeping an eye on the SP.

Everyday so far it has had a period where it is over 13p. Its not tons of money but if you can sell a tranche at over 13p to buy back at 12p then it is a further 8% saving and that 8% you can either keep the cash or buy something else.

I am disappointed in myself for not working out the number of shares I was due and selling at 15p the day after the record date, but in the end the maths just makes sense to sell at 13p and buy them back at 12p unless charges would wipe out any savings made.

Just a thought as I too am overweight in Saga and so did not want to risk more capital, so this was a way of reducing that risk. I'm assuming that my full allocation will still be 5/9ths of the shares I held on the record date and not what I now hold, if that is not the case then it not a tactic to use.

It's really difficult to predict the future so the short term tends to carry bigger weight than the long term.
I think at the moment for many companies it is not about growth and expansion it is purely about survival.

My view is that this share issue will help the company survive and get come out the other side of this crisis. I don't expect any dividends for 3 maybe 4 years. So in that sense it is a bottom draw share. But if it can survive then there will be other players who will not. At that point Saga can then start to grow.

One of the benefits is the market Saga serves, the unemployment that is coming is less likely to hit the target audience and their income.

Any vaccine to get cruises up and running will help this share turn around quicker. But if Saga is still here in say 1 years time I think a SP of 22p (in old money) is not out of reach or £3.30 (in new money).

One thing that has occurred to me is will people need to review any trading limits they have set in place. For example if you have a standing sell at 30p then come consolidation that 30p will be passed. Will that lead to an automatic sell? Or will brokers adjust any autotrades?

Just a thought, I've turned mine off just incase.

Thefarend: I'm with HL and there was an ability to apply for more shares, but it was not guaranteed. There were 3 options

Take up your basic allocation
Take up more than you basic allocation
Take up less than your basic allocation

The 4th option was do nothing and your basic allocation would be returned to the pile for others to pick up.

I have to agree Jed, the share offer has provided this SP some shelter today. Still moving around the margins of 12.5p and 13.5p

Ouch, that was a painful start to this morning.

I've looked around and can't see any news, no RNS.

Seems someone knows something.

Hi hollybean,

I dream of being caught out today, was caught out a few months back when it settled in the low 30's

It seems I am once again long on Lloyds as the SP has not even sniffed 30p since I bought.
I think shares are my way of gambling as I can never pick em, but I still keep getting tempted to do so.

This is the biggest retail bank in the UK and is currently worth less than a website selling holidays that you can't go on (experian).

Personally, I'd be ultra cautious about transferring out of a company pension scheme and bank shares are no certain bet.

I should know I am in Lloyds and that has fallen to horrendous lows and had its dividend cancelled.
Yes, they may not go bust, but they can still erode your capital.

Depending on your age, I would recommend a Life time ISA, you get the benefits of the 20% from government and you can invest as you choose, but its an added extra. If it all goes wrong you still have your works pension to back you up.

Just imagine you are in the year before retirement and then another shock hits the market wiping 25% off your pot. Suddenly you can't afford to retire and need to work an extra 10 years. It's a big risk to take.