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AMP, AMP LIMITED
nipper
post Posted: Sep 16 2019, 10:43 AM
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Most sensible and/ or bitten / twice shy investors have given this company a wide berth. I mean, the news keeps coming; sometimes bad sometimes awful:
QUOTE
Almost 98 per cent of AMP’s retail shareholders decided against buying more shares at a heavily discounted $1.60 a pop. And yet, the stock closed on Friday at $1.86. assuring everyone who did participate in the share purchase plan an immediate 16.3 per cent gain.

At least AMP’s board are attentive enough to spot a bargain when they see it. David Murray, John Fraser, Andrew Harmos, John O’Sullivan, Andrea Slattery, Peter Varghese and Mike Wilkins took up their full entitlements, each putting down $15,000 to buy 9375 AMP shares that were worth $17,156.25 on the very day of their issue.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Aug 14 2019, 09:02 PM
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In Reply To: OZGAZ's post @ Aug 9 2019, 05:56 PM

Still some heavy shorting activity going on here - 3 notable short alerts in last 3 trading days. Total short positions as at 8 August 2019 = 9.17%
QUOTE
Tue 13th Aug, 2019 29,390,736 2,946,493,058 0.99% 45,470,490 64.64%
Mon 12th Aug, 2019 27,728,952 2,946,493,058 0.94% 72,998,083 37.99%
Fri 9th Aug, 2019 29,223,175 2,946,493,058 0.99% 96,077,998 30.42%

https://www.shortman.com.au/stock?q=amp

extract from AFR article
QUOTE
Before last Thursday's half-year results – at which the wealth manager also announced a $650 million capital raising – a group of investors were betting heavily that they could profit from a further collapse in AMP's share price.

They had built up large short positions, equivalent to about 10 per cent of the entire AMP share registry.

But any hopes they had of realising a quick profit by using the equity placement to cover their short positions were left in tatters when AMP announced that all the new shares would be issued to existing shareholders.

This left short-sellers scrambling to buy shares to cover their short positions when AMP shares resumed trading on Friday, causing the share price to spike 11.6 per cent to $1.93.

Read more about the "challenges" "legal action" and management departures - https://www.afr.com/companies/financial-ser...20190814-p52gyj
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
OZGAZ
post Posted: Aug 9 2019, 05:56 PM
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Off out of the gates early from the trading halt and straight into green which I thought was interesting given there is a floor price of $1.50 on the capital raising.....thoughts anyone



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Smile while TRADING it's only money... :)
 
nipper
post Posted: Aug 8 2019, 11:52 PM
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Headline....
QUOTE
AMP advisers shocked and furious
....byline:
QUOTE
AMP's Francesco De Ferrari may have had little choice but to drastically alter AMP's troubled business model but AMP's army of financial advisers are still shocked and angry.
- yes, possums, but you collectively were quite happy to take the trails and undisclosed benefits, to do bugger-all work and have the 'entitlements' to roll in.
What goes around, comes around




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Aug 8 2019, 10:00 AM
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In Reply To: blacksheep's post @ Aug 8 2019, 09:57 AM

AMP launches $650m placement, SPP to follow
QUOTE
The bookbuild will be run with a $1.50 a share floor price, which would be a 13.3 per cent discount to the last close and a 15.7 per cent discount to the 5-day VWAP.

https://www.afr.com/street-talk/amp-launche...20190807-p52eo4



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Aug 8 2019, 09:57 AM
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AMP plunges to $2.3b first-half loss and asks shareholders for another $650m
By business reporter Stephen Letts
Updated 17 minutes ago

QUOTE
The news does not get any better for the deeply troubled wealth manager AMP, which has posted a $2.3 billion first-half loss.

Key points:
AMP's calamitous 18 months since the banking royal commission started has resulted in a $2.3b write down in value and 70pc fall in its share price
Shareholders will be asked to tip in another $650m to fund new 'growth initiatives'
AMP is making a second attempt to offload its troubled life insurance business for $3b

The plunge back into the red was entirely due to a predominantly non-cash $2.35 billion impairment charge, which the company said was "taken to address legacy issues and position AMP for the future."

Putting the impairment to one side, the underlying profit was not great either, coming in at $309 million, a 37 per cent decline on the previous corresponding period and well short of analyst forecasts of $390 million.


https://www.abc.net.au/news/2019-08-08/amp-...f-loss/11394030



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


plastic
post Posted: Jul 16 2019, 01:20 PM
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Spin off NZ ops as a stand alone listing is my guess. Take a look NZX:BGL. They are just waiting for a banking sector implosion.And I don't think those kiwis like being used as a branch economy any more to pay for someone else's largesse and mistakes. They want to live large themselves and make their own cock ups.



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What did Uncle Mel do to us?

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Jul 16 2019, 12:04 PM
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In Reply To: early birds's post @ Jul 15 2019, 10:31 PM

Not sure it will go broke but I wouldn't be touching it ATM. Fund Managers not buying, analysts (FWIW) have reduced their targets - a couple @ $1.50 - according to AFR article - but someone always does buy believing it's a bargain. SP price range today so far $1.80 - $1.86, with 16.3mil shares traded

extract from AFR article
AMP could present a value trap
QUOTE
While the share price plummet has left its shares trading at historically low levels, fund managers are still hesitant to jump on board.

"It's absolutely a value trap," said Tribeca Investment Partners lead portfolio manager Jun Bei Liu. "You’ve got a class action, you’ve got impairment and so many uncertainties coming up and it's reasonably certain that they will have to raise capital.

"The outflows were just enormous in the first quarter and the June quarter is looking at another $1.4 billion. Those outflows won’t disappear for another year or so and even then we don’t know if the performance will turn around."

https://www.afr.com/markets/equity-markets/...20190716-p527jo

Notable short alert yesterday
QUOTE
15 Jul AMP 47,538,064 2,946,493,058 +1.61%

https://www.shortman.com.au/movers

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
early birds
post Posted: Jul 15 2019, 10:31 PM
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In Reply To: blacksheep's post @ Jul 15 2019, 02:42 PM

will AMP go broke ????? or it's price to buy it now and wait for the turn or TA ???
unsure.gif



 
blacksheep
post Posted: Jul 15 2019, 02:42 PM
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SP plunged this morning (currently $1.81 - down 15.81%) following news .........

QUOTE
AMP Limited today advises that the transaction for the sale of AMP Life (the Australian and New
Zealand wealth protection and mature businesses) to Resolution Life is highly unlikely to
proceed on the current terms due to the challenges in meeting the condition precedent for
Reserve Bank of New Zealand (RBNZ) approval.


This condition requires RBNZ approval of a change of control for AMP Life in a form consistent
with the current branch structure (which exempts AMP Life from a number of New Zealand
legislative requirements).

On 13 July 2019, Resolution Life notified AMP that:
− RBNZ would not consider Resolution Life’s change of control application unless it
agreed to have separate, ringfenced assets held in New Zealand for the benefit of New
Zealand policyholders, which is inconsistent with the current branch structure; and
− as a result, Resolution Life does not expect RBNZ to approve an application that would
satisfy the condition precedent.


Interesting (sizable) notable short alert on Thursday last week - did someone have prior knowledge?
QUOTE
Thu 11th Jul, 2019 35,353,965 2,946,493,058 1.20% 41,318,226 85.57%

https://www.shortman.com.au/stock?q=AMP

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
 


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