N Brown Group (BWNG) have this morning announced a complete and final settlement of the action brought by Allianz. BWNG will pay £49.5m in a few days’ time as against a provision in its books of £25m. There is plenty of cash and facilities to meet the consequences of this.
However, the effect on ntav of BWNG, although tangible, is not remarkable in relation to the forthcoming assessment of BWNG’s prospects. There is to be a trading update on 12th January and I would expect the share price to respond favourably to this. The current price is 28p.
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The climate for settlement of the wave of industrial disputes is turning favourable. The fact is that the country does not want to replicate the 1926 general strike despite what Mike Lynch of the RMT may be hoping for. IDS (formerly RMG) has inched ahead and is now 233p. That still seems cheap.
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The tutorial sessions continue here at my home. There is extensive interest expressed in how to develop an equity portfolio and, where there is an interest in portfolio insurance, how to set about short-selling. My telephone number remains 020 7835 0868. A session is advertised to last ninety minutes but it tends to run over by some margin. Chocolate eclairs are central. Group discounts on the basic £200 fee per tutee are to hand.