Investment & Allied Assurance Company PLC

[BLUEMONEY]

Originally Posted by panej

Follow this URL and read the section about IANSURE indicating TS status - also pasted here:
BusinessDay... the voice of business - Banks pressure investors to return borrowed funds

Why Investment and Allied Assurance is a volume driver

"You know the insurance sector is more or less an emerging sector in the market; so most people get to patronize their stocks because they believe they can get more volume with less amount of money. Moreover, this company did private placement of N2 per share at N2.10.But you know the normal value of every stock listed on the stock market is 50 Kobo. This means that the each stock will be multiplied by four when listed on the exchange and it was listed for about N1.50. By this, those who bought the private placement were making over 150 per cent profit of their stocks. Couple with the fact that the amount is low. The amount of shares outstanding is 28 billion units. You can see how the volume came about. At a point it was the least priced stock in the insurance sub-sector. So there was patronage and it was coming for the first time and people embraced it by going for it. Now the price has gone down to 74 Kobo and they are on technical suspension because they want to reconstruct their shares. The shares are so many in the market; 28 billion is quite a lot. To get it to 14 billion reduction 50 per cent and the price will equally move up by that percentage."

So the Management of this company now wants to reconstruct thier shares ????? I Thought he said they wont do that ?????

[pegheneji]

Originally Posted by panej

It is on technical suspension, there can not be any price change not mater the volume.

IAA is not on TS, because of the 1% downward rule, the stock can only move up because 1% of 74k is less than 1k which is the least amount that can be subtracted. so unless the 1% rule is removed or demand greater than demand, no mater the volume traded, the price will not move.

[delson4u]

good day forumites,
about IAA. is it the right time for someone to take position on this stock. Due to its share reconstrutn, whats the fate of those of us in it now.

[Easy_2006]

Hello all. To apply for access to my account with CSCS through by brocker, do I need to fill any form or is it enough to give my brocker instructions to that effect.

[BLUEMONEY]

Originally Posted by Easy_2006

Hello all. To apply for access to my account with CSCS through by brocker, do I need to fill any form or is it enough to give my brocker instructions to that effect.

This Attachment will help and I dont think much has changed since it was posted on the CSCS website.

[hispy99]

Originally Posted by delson4u

good day forumites,
about IAA. is it the right time for someone to take position on this stock. Due to its share reconstrutn, whats the fate of those of us in it now.

hopefully, your fate won't be like that of Sterling Bank shareholders

[hispy99]

Latest Market Info
IAINSURE: 3RD QTR SEPT 2008
INVESTMENT AND ALLIED ASSURANCE PLC, 30-09-2008 (3RD QUARTER 08)

TURNOVER 08 N1.209b, 07 N531.340m

PBTAXATION 08 N662.211m, 07 N293.063m

TAXATION 08 (N165.552m)07 (N87.919m)

PATAXATION 08 N496.658m, 07 N205.144m

[billions]

Originally Posted by hispy99

Latest Market Info
IAINSURE: 3RD QTR SEPT 2008
INVESTMENT AND ALLIED ASSURANCE PLC, 30-09-2008 (3RD QUARTER 08)

TURNOVER 08 N1.209b, 07 N531.340m

PBTAXATION 08 N662.211m, 07 N293.063m

TAXATION 08 (N165.552m)07 (N87.919m)

PATAXATION 08 N496.658m, 07 N205.144m

....they shd be able to declare a dividend of 1 kobo dis year.

[panej]

Originally Posted by billions

....they shd be able to declare a dividend of 1 kobo dis year.

Why is the sock heading straight into the gutter? It is going to hit below par value in a few days if the trend continues. Even at 50 kobo, it may not be worth the value of the paper the certificate is printed on. If they were any good, other insurance companies will be all over it trying to buy them for their customer list.

[panej]

How low do you think IAINSURE will go? Will it be de-listed if it goes way below par value? It should hit par by Monday......just watching....

[hispy99]

Originally Posted by panej

How low do you think IAINSURE will go? Will it be de-listed if it goes way below par value? It should hit par by Monday......just watching....

The lowest it can go is zero and I doubt if it will get to that level. The stock will not be deliated just because the price falls below par value.

[donchisel]

Originally Posted by panej

How low do you think IAINSURE will go? Will it be de-listed if it goes way below par value? It should hit par by Monday......just watching....

The lowest a stock can go with 5% downward rull in place is 19 kobo.

[panej]

Originally Posted by donchisel

The lowest a stock can go with 5% downward rull in place is 19 kobo.

Thanks...I'll put in my bid @ 20k then....

[hispy99]

Originally Posted by donchisel

The lowest a stock can go with 5% downward rull in place is 19 kobo.

Good catch, did not factor uh the 5% daily limit.

[donchisel]

Originally Posted by panej

Thanks...I'll put in my bid @ 20k then....

Wish u luck bro, but Just note that @20k, the foward PE would be less than 9x assuming an EPS of 2.3k by the end of 2008 FYE. I wish all these SMN Gurus will allow it get that low.