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This is probably true. But Saga needs to keep its name on the insurance branding as complements other products e.g medical care, money products. Dont think it was a particularly good deal abd not sure what the commision terms are tbh. ANyway needed to be done now need to sort financing.

JUst feel that the sp will drift back down again as usual :-\

Baffasted,

Dont get me wrong, i think that Saga is undervalued due to underlying profit and potential growth prospects if the ageas deal and perhaps a cruise deal can get done. But the reason the share price is so low is the current disaster of the insurance business, it has been run into the ground by the two previous bosses. During the pandemic etc it was generating nice cash.

Next leg up needs a broker upgrade. Broker upgrades may come soon ;-)

Thanks zccax77, so the £80m will definitely redunce net debt ;-)

Listened to presentation today. So from the 67.5 million about 47.5m will be left after costs to go towards debt.

The £80 million will cover the unwind the negative working capital we have from the insurance business - so does this mean it will not affect our net debt? or is it a cashflow thing only?

The most accurate depiction of Saga's finances that I have ever seen in an article. Agree huge upside if Ageas deal goes through ...

https://www.ft.com/content/54e39aea-e72a-4bbf-8782-40a178911393

May I suggest 200p. I would be over the moon at this price

No "in line" does not cover goodwill, but I strongly suspect if there is a deal with Aegis it will not result in a goodwill rightdown as Aegis wants to get into the market of selling insurance and finance products to people over 50 and any deal would have to improve shareholder value

Good news, delayed results due to finalising deal:

https://news.sky.com/story/saga-in-talks-with-belgiums-ageas-about-insurance-arm-deal-13226065

So on ADVFN they are being flagged as buys. However wondering why so many small trades really - test trades or a signal?

Admiral has posted good results in its motor insurance and underwriting. 20% increase in profit in car insurance and an improvement in COR for the underwriting business. Aviva also announced good results a few days ago.

Saga time to sell the underwriting business maybe ....

Really thomson??

At these levels this is a bargain ... just topped up ;-)

Https://www.investorschronicle.co.uk/content/b6f2df18-be21-5bc1-a9c8-a9ab3c552294

so maybe a good time to sell our underwriting business ....

why are we not seeing these benfits :-(

So and a sale and lease back of 600m for both ships would wipe £400m of ship debt of the books and leave £200m left to go towards the all important bond repayment in 2026 of £250m. The sp would then look very cheap as we would only have £200m net debt left and although the yearly profit would take a hit it needs to be measure up against the current market cap which is far too low even with the resulting lowering of profit

Agree with you Alnwick. You need to give the new management a chance. They cant be worse than Euan.

I however do think they got their stock (stock options?) before any announced deals and therefore could be an easy win for them.

Alnwick,

Maybe someone agrees with you as a 600,000 trade went through at 14:00 at 111.xxp. Not sure if that was a buy or a delayed sell. Not sure why this SP is where it is though??

Slightly more info in city AM article: Peel Hunt broker comment ...

https://www.cityam.com/saga-sees-strong-travel-demand-but-insurance-headwinds-remain/

A deal on ocean cruise to expand is key to the business ....

Trading Update neutral to positive. Looks like things are progressing to plan. With Cruise and travel doing well.

Accelerated deal for cruise partnership still in acceleration ;-)

ppywgda and all,

thanks for posting the article. basically there are too many errors in that article to count. the obvious one about 75% fall ... the deeply discounted share issue (no i remember roger fronting up a huge amount of cash above the market price at the time) and te rest was not that deeply discounted. the profits etc really need more explanation (difference between underlying and after goodwill right downs) and the implication that the rights issue was recent. and all the *******s about how it started off because of brexit ....

what we really need is some kind of deal to reduce the debt ... any of the following:

sale and leaseback on cruise ships

sell underwriting

insurance deals with other suitors e.g ageas

the fact here is that the sum of the parts vastly exceed current ev (debt plus equity) but maybe not in the books as cruise and travel currently have zero value ...

anyway lets hope there is at least some info tomorrow ....