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05-02-2018, 12:20 PM
#331
TJ "I have heard things regarding some of the managers/directors pasts... lets just say I think they are "questionable" which is the reason why I'm not investing, unfortunately, because I did initially like it."
More on the info he had then intuition/feelings. For me i find im more right if i add up the facts and then listen just a little to my intuition rather than just following them alone but i find it an interesting subject, discussion.
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05-02-2018, 12:36 PM
#332
Originally Posted by Joshuatree
TJ "I have heard things regarding some of the managers/directors pasts... lets just say I think they are "questionable" which is the reason why I'm not investing, unfortunately, because I did initially like it."
More on the info he had then intuition/feelings. For me i find im more right if i add up the facts and then listen just a little to my intuition rather than just following them alone but i find it an interesting subject, discussion.
Suppose that’s what I do in the short to medium term because it can take years before one is proved right or wrong
And is an interesting subject
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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05-02-2018, 05:46 PM
#333
Member
Originally Posted by winner69
Peter Harris will be gutted having to own up to this disaster
Suppose shareholders aren’t too happy either
Shouldn’t be too much of a worry as he managed to sell 5m in April 2017
Probably bought by Harbour
Troubles in Europe came to light in July apparently
Harbour were still soaking these darts up late in 2017
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05-02-2018, 07:19 PM
#334
Member
Originally Posted by Grunter
CBL is a liability insurer, which means that they are exposed to long-tail risk, the most feared exposure in the insurance industry, and portfolio contagion, meaning that because they write a specialist area of cover, they are exposed to aggregation within their portfolio of a specific type of risk, which could eventuate from left field on a widespread scale.
Recovering from counter parties means subrogating against the contractors/project managers/construction firms that will have professional indemnity cover for their liabilities. Thus CBL should be able to recover some of their costs of paying claims from third parties.
seems that tail is getting ready to wag.
further note, CBL has large exposures to surety risk in the construction sector. A downturn in the sector could cause a tsunami of claims against CBL.
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05-02-2018, 07:27 PM
#335
Originally Posted by Lola
Shouldn’t be too much of a worry as he managed to sell 5m in April 2017
Probably bought by Harbour
Troubles in Europe came to light in July apparently
Harbour were still soaking these darts up late in 2017
It appears he invested some of that in obtuse writing classes. What an impenetrable announcement... So many words to say, what Benaud would've given in 5, "He got his sums wrong." The worry is no mention of how this happened.
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05-02-2018, 08:30 PM
#336
Winner interesting times head
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06-02-2018, 11:57 AM
#337
Terrible timing for a capital raise -- especially for how much CBL might need
Expect the trading halt to be extended into next week methinks
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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06-02-2018, 12:01 PM
#338
- Here are the details from todays ASX annoucement
Reason for voluntary suspension – the Company has received the results of a report it commissionedto review the actuarial assumptions applicable to CBL Insurance Limited’s ongoing French Constructioninsurance business and the recommendation of this report is to strengthen the future claims reserves ofCBL Insurance Limited. The Board of the Company considers that a capital raising is appropriate tostrengthen future claims reserves and also to ensure sufficient capital strength to enable the Company tocontinue its growth (Proposed Capital Raising). Because a process is currently underway with respectto adjustments to future claims reserves and major shareholder discussions, the Company requests thatASX place the Company's Shares into voluntary suspension to ensure an orderly market for theCompany's Shares while discussions with major shareholders take place.
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06-02-2018, 12:08 PM
#339
Why I mentioned an extension to next week because they hinted at trading again this week
NZX Regulation (“NZXR”) advises that further to the memorandum released on Friday, 2 February 2018, and the announcement released by CBL this morning, the trading halt on CBL Corporation Limited ordinary shares (“CBL”) will remain in place until an announcement by CBL regarding its expectations with respect to a capital raising (anticipated to be on or before Thursday 8 February 2018), at which time it is likely the halt will be lifted. The halt will be lifted by no later than market open on Friday 9 February 2018.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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06-02-2018, 08:21 PM
#340
Member
Originally Posted by winner69
Why I mentioned an extension to next week because they hinted at trading again this week
NZX Regulation (“NZXR”) advises that further to the memorandum released on Friday, 2 February 2018, and the announcement released by CBL this morning, the trading halt on CBL Corporation Limited ordinary shares (“CBL”) will remain in place until an announcement by CBL regarding its expectations with respect to a capital raising (anticipated to be on or before Thursday 8 February 2018), at which time it is likely the halt will be lifted. The halt will be lifted by no later than market open on Friday 9 February 2018.
Forbar discretionaries and FNZ and management will probably “underwrite “ this.
Price?
1.55....just a guess
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