Wynford2
08 Mar 2016
Re: Back in @ 288.75 Try: 'The investigation stage could drag on for years, meanwhile a good dividend is being paid, and the risk is now priced in.'
Gooffy
08 Mar 2016
Re: Back in @ 288.75 I sold when the FCA announcement was made for a small lostt , have you a good reason to go back in, I think I have learned where there is uncertainty shares tend to fall until its sorted, BHP for example.Would be nice to pick these up again but if the FCA slap a PPI type of idea on Chesnara for countrywide its not going to be good which is why it fell.Thoughts welcome.
devonplay
08 Mar 2016
Resistance at 267 Next few days look critical.If we get a little of up momentum, I might have a little nibble.Weakness, I'm going to hold out for 255.DL
Spain Fund
07 Mar 2016
Back in @ 288.75 £5k worth mostly profit from my best earner. One minute 296 to buy then 288.75 etc etc
mtap
04 Mar 2016
Re: FCA I'm in at 296P BIG SPREAD SO THAT WAS THE BEST BUY PRICE I COULD GET.
TX2
04 Mar 2016
Re: FCA Hopefully for shareholders this fall will prove an over reaction,obviously sellers are selling into a market where buyers are reluctant to buy.The problem is that this enquiry could go on for years,if past enquiries by FCA are anything to go by.We do not know the risk in terms of potential number of claims,the possible liability on each claim,penalties & costs in addition.Whether the FCA is working from existing rules or even if the powers that be have made a new set.Reluctantly I sold earlier this AM.Chesnara has been an exceptional investment over the years;I have more or less doubled my money & enjoyed a dividend yield currently running at over 12% of my cost price.Hope the good times return here ASAP!
Bowman
04 Mar 2016
Re: FCA It is very difficult to call. The other Companies involved in the FCA investigation have not exhibited any identifiable weakness in the past few days, but they are all much larger. The portion of CSN's profits derived from CA is much smaller now than it used to be, but it is difficult to judge what any impact could be especially if the cases concerned involve business that has already been transferred out.According to Sharescope the average daily volume has been ~120k over the past 240 days, and 110k over the past 10 days. Yesterday the volume was 433k and today so far it seems to have been ~390k. It seems that this high volume, presumably of sells, is what is causing the SP to fall so precipitously.There are only about 126m CSN shares, so the current volume is about 3% which seems quite high.It seems to me that the fall has been overdone, but it will not represent a buying opportunity until the fall bottoms out. There was a similar very large drop at the beginning of 2014, but this only went down to ~280. We are currently down to about 265 so this drop is becoming concerning.
mtap
04 Mar 2016
Re: FCA I have successfully traded CSN over the last five years or so between 300 & 350p and am currently out. Do we see this story as seriously impeding earnings or a buying opportunity? Just looking for opions and hunches.
devonplay
04 Mar 2016
Re: FCA I did say I wasn't surprised by yesterdays fall, as I type 9% so far today.DL - but, its bouncing about.
Bowman
04 Mar 2016
Re: FCA forddrive,I believe your statements are not totally correct. CSN was not demerged from Countrywide PLC, see the link I posted to the CSN website.Countrywide Assured (CA) was demerged from Countrywide PLC. Chesnara acquired CA and then listed on the London Stock Exchange. Chesnara was established as PINCO 2042 PLC on 29th October 2003 and changed its name to Chesnara PLC on 22nd December 2003. It applied to start trading in March 2004 at about the same time as it took over Countrywide Assured Group PLC.The full Companies House history for Chesnara can be found on the following page.[link] seems that Chesnara was a vehicle established to takeover CA. It all seems rather convoluted but I suspect there were reasons for this. I suppose the same result could have been obtained by simply renaming CA to Chesnara. Chesnara therefore started trading with the assets etc of CA, so was virtually identical to the demerged CompanyHence formally Chesnara was not demerged from Countrywide PLC.
forddrive
04 Mar 2016
Re: FCA Jonwig1 you are wrong. Chesnara was demerged from Countrywide plc in 2004, taking the insurance book with them.
Bowman
03 Mar 2016
Re: FCA Just to get the takeover / merger chronology correct read the following web page.[link]
jonwig1
03 Mar 2016
Re: FCA forddrive - no.
TX2
03 Mar 2016
Re: FCA Like Bowman & Lupo I have been a shareholder here for many years;while I tend to agree share performance has been fairly uninspiring over last couple of years however I am not too certain the market generally is that obviously full of high yielders with growth prospects elsewhere.Perhaps I have missed them.(Suggestions Welcome!!!)However todays news is unwelcome and could be significant.Although Chesnara has added other businesses,in particular the Swedish operation, my understanding is that Countrywide "book" apart from being the original business remains the core of Chesnara's business & profits.Needs watching carefully.
forddrive
03 Mar 2016
Re: FCA Chesnara used to be owned by Countrywide several years ago. However they are now separate.
