Member Info for Pianista

If the big investors fear that Saga will be sold "on the cheap", this must mean that they think it's currently undervalued.

The answer is for them not to sell out, therefore.

People get so hung up on intangibles.

Companies are generally valued on their earnings stream, not on assets. Asset backing is only really relevant, as a safety net, when a company is about to go belly up.

Despite years of mismanagement, Saga is certainly not in that category. It is still making £100m+ pa, and the current overdone SP weakness makes it at least a two-bagger in my book, whether it remains independent or is snapped up.

The departure of Batchelor seems to have overshadowed the chairman's assurance that "early progress in Insurance Broking is encouraging and we will provide a more detailed update at the AGM next week. These developments demonstrate that Saga is a strong business with an attractive future".

So I can't see any thing nasty coming out of the AGM.

Also, the debt position is quite comfortable ("continued strong cash flows have enabled the Group to continue to maintain a stable debt ratio of 1.7x [EBITDA] compared to 31 January 2018"), so any talk of a rights issue is premature. Personally, it wouldn't bother me if they did do one: it wouldn't be dilutive for me, since I would be happy to take it up in full.

So happy to top up (already have).

"Of course they won’t overpay but ignore those who expect the equity to be sold for a song as they understand the value as they own 18% of the equity!"

Why then haven't Fosun been snapping up more shares for a lot less than your 40-50p interim target?

(Or maybe there's an RNS in the pipeline telling us just that).

The use of the word "stakeholders", rather than "shareholders", is ominous. Reminds me of Flybe….

May give some clues...

I agree that shopping around is a pain, because the products are (deliberately) complex and defy quick comparison.

So I think the 3 year fixed price insurance product is a great idea which will be well-received by consumers.

The SP may well flirt with the 30s, but not for long.....

rxdav - agree 100% re Cruises, including the bit about needles.

It's the one thing that gives me hope for this share and is keeping me on board.....

If I hadn't already averaged down since having had the dubious privilege of being allocated shares at the IPO, I'd be tempted to buy at this level. The problem is, even if they "lance the boil" - a subtle reference to Mr Batchelor - this is no 10 bagger: I can see it getting back to £1, perhaps, but beyond that, who knows? I'll probably just keep what I already have as a relatively small part of my portfolio.

With final results (and a trading update no doubt) on 8 July, PDMRs are rushing to get in their share dealings before the close period, which I believe starts on 8 June.

They either know something, or they just derive a weird sadistic pleasure from winding us all up.

LOL, are you talking about the trade marked UT? You do know what that means don't you?

The further issue of options is no big deal in the greater scheme of things, and will be quickly overshadowed if, as we'd all like to think, this was rushed out in advance of the long-awaited blockbuster RNS!

The least we can hope, I suppose, is that the SP is not expected to collapse further when we get the next scheduled update in July.

You'd think that would be enough, given the company is still viable and projected to make over £100m PBT pa.

Could be great opportunity for a predator.

Don't you just love the way she pats herself and her colleagues on the back, with no acknowledgement at all of the role played, or the pain suffered, by long-suffering shareholders. Sickening.

The stockmarket has always been risky, but I've never known it to be as corrupt and dangerous as it is now.

Reassuring. And shunning an uncommercial HMPO contract is no bad thing. Should underpin recent SP strength (after the usual volatility).

Taverham - do you know of any legal actions proposed re the Flybe giveaway? I have provided my details to "Tom", but have heard nothing.

Mick Wood has transferred the bulk of his holding into an ISA. No doubt expecting a bumper tax-free gain in due course.

Life's too short to plough through unintelligible dross. Try rewriting it in normal English, and people might bother to read it.

LTH time horizon is a tad more than 24 hours, so no anxiety, just a short-lived opportunity to average down maybe.

When I saw these trades listed, I suspected they were directors'. Bodes well.