Member Info for Pianista

"Most of their underwriting is reinsured so there is unlikely to be much benefit from low claims".

It was worthy of mention in the trading update though:

"Current year claims frequency from March onwards has been much reduced as a result of lower miles driven following the start of the COVID-19 lockdown. The Group has not recognised any COVID-19 related claims upside in current year results or financial projections".

So maybe we'll get a pleasant surprise when the half-year results are announced.

You don't need to be clever to deal at 18. I started at 18, and lost the lot after taking bum advice from my bank manager. It was a useful lesson.

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

Where've you seen that exactly?

My message at 21.58 today: RNS was at 2.47pm, not 2.27pm.

No mention of Sweeney in the 2020 published accounts. I'm beginning to think HL have got it wrong putting him down as a director. Same with Coulthard, who appears to be a director of "Nutshell TV Ltd", and whose occupation is listed as "Investment Banker".

Conclusion: they don't appear to be directors of the AA, but they certainly believe the shares are worth buying at 38p FWIW.

I've found the RNS for Sweeney - it was at 2.27pm on 11/8/20. But it was not headed "Director/PDMR Shareholding", which is why it was difficult to find. Curious.

There hasn't been an RNS for these purchases, as far as I can see. So how do HL know about them? I would have thought dealing by management wasn't permitted at the moment. But if it's true these large purchases at 38p have just taken place, it bodes well for the SP.

Just joking, but a sell of 100 shares for £4.60 (before commission!) is about as newsworthy as it gets for CRU at the moment!

I still think, having significantly lowered expectations, that this will explode after a reasonable trading update.

Back to the sun lounger....

Stop loss at 35p is no good if the shares open at 25p after a devastating RNS at 7am one day.

It's more likely I think that the first announcement that we get from a PE is merely that one of them does not intend to make an offer, which would be negative but not catastrophic since it would leave three others.

It's not actually Albert Bridge that sold:

"Albert Bridge Capital is the appointed discretionary Investment Manager to several managed accounts and a fund and under the terms of the investment management agreements, it holds the power to vote any physical shareholdings held by these clients".

So one or two of their clients got cold feet; nothing significant.

"May not be about who offers the best cash sp deal but what company is prepared to offer more investment to pay off debt".

But once they’ve taken it over, we won’t own it any more. So why on earth should we be interested in what they propose to do about the debt?

In comparison, DX would also make a very tasty morsel!

But bid or no bid, this is still heading for 30p+ over the next year or two.

The 3 initial PEs have been in discussions with the AA about refinancing for some time. So I reckon they all know enough already to formulate a bid, without any further due diligence, and I wouldn't be surprised if there were an opening lowball of 50p at any moment. Why wait a month?

You can't take him seriously, one minute it's 25p, the next it's £1.50, LOL!

I think the AA will go for 50-60p. I doubt if it will be bid up much above that. Would love to be proved wrong though!

Tav - I'm also bearing the Flybe scars! This is no Flybe though. However, when I saw that our friends at Evercore were involved here too, this sent a nasty shiver down my spine.

Takeover doesn't necessarily mean the BOD lose their jobs. Whatever happens, I'm sure they'll be "looked after"... Chairman at any rate is approaching retirement.

Unfortunately for those not yet on board, I think it will open 10 - 15% up tomorrow, ie 36 - 38p. As to what happens after that on a daily basis, it's impossible to say, but ultimately this will go for 50p+, or even 50p++!!

And yet only 4 or 5 days ago those clowns at the FT was saying finding value in the equity would be "a challenge".

I wonder how they'll wriggle out of that one, when the company is eventually taken out for 50p+?

...cancelled, unfortunately for us, because we still won't know how SB is doing.

Though it might be better not to know!