Member Info for Pianista

I like Saga too, but I also found them very expensive for car insurance. Renewal premium was up by 40% (no claims). Haggled it down a fair bit, but it was still £100 more than the AA. So I reluctantly went with the AA. Well, I need to defray the losses on my Saga shares somehow!

Popeye62: "Be extremely careful of what you read on here. Take all comments with a pinch of salt".

Including your own? eg your 13/8/20 post where you said:

"Wait until Admiral, Aviva or Hastings Direct show their hand??? They're all sniffing around AA".

We'd all love to believe it.

Which is why I asked you to tell us where you saw it. Still waiting.....

There is no reason why Saga should be affected in the same way as Cunard, but the market needs Saga to break their silence.

Well said Pokerchips. The world has indeed gone mad.

...Insurance sector up 1%, Carnival up 7%, good ol' Saga down 7%. Bizarre!

For Trak, not so much a loss, as a failure to gain? It won't be the only telematics company licking its wounds...

Yes, JG has bought in at an average of mid-teens it seems, so what's good for him is certainly good for me.

As suspected, their May update was over-pessimistic. SP is already responding.

The cruising delay is a real b***ger, but we can at least take some comfort from the June trading update:

"The Group .....has continued to run stress tests based on a wide range of outcomes for the COVID-19 crisis, INCLUDING A FURTHER DELAY TO THE RESUMPTION OF TRAVEL UNTIL NEXT YEAR. Based on this analysis the Group continues to expect to remain in compliance with key banking covenants at the next two half-yearly testing dates, although further actions may be needed to stay ahead given potential uncertain long-term impacts of COVID-19 on the business and the maturity of bank facilities in May 2022 and May 2023."

Hope this isn’t this year’s “Iran”!

Marcus, not Matcus.

Matcus - whether you topped up at 14p or 20p, you should multi-bag. The problem is, there could be a massive RNS - eg surprisingly good half year results - or other news on vaccines etc at any moment which would get this shooting back up through the 20s, so better to be in at 20p than at 30p. I’ve been averaging down all the way from 185p, and am happy with my 23p average.

Nothing fundamental has changed in the last month or so. As Pokerchips says, we’re in the realms of speculation and game playing. MMs are past masters at flushing out the weak.

Share options were issued in late June when the share price was 18p.

At the time, the company recognised that the share price was unusually depressed because of Covid, consequently they issued fewer options than normal.

This implied that the company felt that a more representative share price at the time was 26p.

We are now at half that level, on no real news and no real change in cruising assumptions, whilst insurance should see a benefit from reduced claims. So it must be as much a surprise to the BOD as it is to many of us that we are at this level.

The difference is that the BOD can feel relaxed because they know the true position - as the half year figures will no doubt bear out - but frustrated that they can’t load up at the moment.

Just averaged down - for the last time hopefully - at 14.4p. Surely that was the bottom?

Must be a bug. If it hit 56p, we'd all know it! Briefly touched 25p around a month ago.

"cruises are basically f***** until...." the government stop nannying us, and just let responsible companies like
Saga get on with putting in place safe cruising protocols.

Should a bidder decide to pull out, it is duty-bound to make an announcement to that effect by 1 Sep. I'm bracing myself for this to be the next RNS on the takeover, because it will likely be a little unsettling on the market initially. Holders will just need to keep their cool.

I think it's only home insurance that is reinsured with a third party, so I'm hopeful of some much-needed bunce from reduced claims this year.

With all the uncertainties, I wouldn't bank on much more than 60p at this stage, but a drop to 15p would be a typical market overreaction to an equity raise, which would nevertheless provide an opportunity to load up.