LONDON (Alliance News) - Helios Underwriting PLC on Friday said it expects a substantial increase in
adjusted net asset value per share as it benefited from increased capacity values.
The company's board, meanwhile, announced on Friday a pro forma
adjusted net asset value as of 27 November of GBP3.81 per ordinary share, saying that the proposed sum by QIA and Brookfield represents a 22.6% discount to the
adjusted net asset value of the company's shares.
$24.1m, a discount to the estimated
adjusted net asset value of c.
Its
adjusted net asset value per share dropped 9.9 per cent to pounds 13.92, offsetting a 10.4 per cent rise in adjusted pre-tax profits.
During the year the group increased its
adjusted net asset value per share by 25% from 592p to 741p, pre-tax profits increased by pounds 36m to pounds 91m and the annual dividend was increased by 6.8% to 19.5p.
The price, to be covered with cash on hand, is below Alma's estimated
adjusted net asset value, Randall & Quilter noted.
Adjusted net asset value rose 11.6 per cent to 1635p - ahead of consensus forecasts of 1600p - while adjusted pre-tax profits rose 22 per cent to pounds 54.8 million.
This will crystallise 64p per share, above the current
adjusted Net Asset Value (equivalent to pounds 300m before tax).
The reduced offer took into account the P600 million in dividends issued by PDS to shareholders in June, even as the share price remained a multiplier of 1.5 times
adjusted net asset value or the same as the previous offer.
Under the same agreement, Santander is also buying KBCa[euro](tm)s consumer finance unit Zagiel at an
adjusted net asset value, subject to competition approvals, the banks said.Country: PolandSector: Banking/Financial ServicesTarget: Zagiel , Kredyt Bank SABuyer: Banco Santander SA, Bank Zachodni WBK SAVendor: KBC Groep NVComment: The combined bank is worth USD6.7bn.
This was driven by ongoing development activity at attractive margins, helping to contribute to a pounds 33 million increase in
adjusted net asset value, compared to pounds 21 million in 2005.
The downgraded offer took into account the P600 million in dividends that PDS issued to shareholders in June, even as the share price remained a multiplier of 1.5 times
adjusted net asset value or the same as the previous offer.
