ISU - iSelect Limited

[skyQuake]

Well, the "materially" worse result..is now forecast to become a "significantly" worse result.
They are probably crossing their fingers and toes that the takeover bid is actually serious and something they can back!

On the plus side, they're talking with other potential suitors.

I think its good news that after CEO and CFO leaves it was "just" a downgrade rather than systematic fraud

 

[skc]

On the plus side, they're talking with other potential suitors.

I think its good news that after CEO and CFO leaves it was "just" a downgrade rather than systematic fraud

Lol... when you set your expectations low you'd never be disappointed! They are very lucky to have the takeover talk stopping them from crashing 25% today.

FWIW, the scene is set for a nice negative premium if any takeover bid was to come... and ISU will probably say "Yes! We would be huffing hippos if we say no".

 

[McLovin]

Well, the "materially" worse result..is now forecast to become a "significantly" worse result.
They are probably crossing their fingers and toes that the takeover bid is actually serious and something they can back!

Significantly worse has been upgraded to disappointing, following a further downgrade.

iSelect is now forecasting full year earnings before interest and tax of $15 million to $18 million, compared to its November guidance of $26 million to $28 million.

Using the midpoint of each range - $27 million to $16.5 million - the company has downgraded its guidance by 39 per cent.

iSelect chief executive Scott Wilson said in a statement to the market the reduction in EBIT was "disappointing".

Read more: http://www.afr.com/technology/web/e...nings-downgrade-20160110-gm32eg#ixzz3wtKRa49b

 

[skc]

Significantly worse has been upgraded to disappointing, following a further downgrade.

Is this "takeover rumour/approach before profit downgrade" the new game in town? DSH, BKN, ISU (and STO if you want to include them) all had some corporate action mumbling before a big share price collapse.

For the record.... current takeover rumours include SPO, GXL and RKN. Make of it what you will...

 

[Dona Ferentes]

first, today ISU

blames strategic and operational issues for reduction in full-year earnings guidance.

and now I see

Insurance comparison website iSelect has downgraded its full year earnings guidance, blaming too many workers in a slow period.

maybe there was a misjudgment of the size of the market?

 

[ukulele]

Recent price action cannot be just due to share buybacks can it?

From downgrades to a lot of recent strength?

 

[greggles]

iSelect have been absolutely hammered today after the company updated its guidance for FY18 underlying EBIT. It is now expected to be between $8 million and $12 million, not between $26 million and $29 million as previously advised. Now that's a downgrade.

Scott Wilson has tendered his resignation as Managing Director & CEO of iSelect, effective immediately.

The market reacted swiftly to the announcement and the result can be seen in the chart below. Ouch!

 

[JTLP]

iSelect have been absolutely hammered today after the company updated its guidance for FY18 underlying EBIT. It is now expected to be between $8 million and $12 million, not between $26 million and $29 million as previously advised. Now that's a downgrade.

Scott Wilson has tendered his resignation as Managing Director & CEO of iSelect, effective immediately.

The market reacted swiftly to the announcement and the result can be seen in the chart below. Ouch!

View attachment 87062

Really don’t understand how these guys aren’t flush with cash? They make a killing being an aggregator, and are much more expensive than Compare The Market to list with. Bizarre.

 

[greggles]

iSelect bouncing back well after its dramatic share price collapse in April when it reached an intraday low of 32c. Anyone who got in under 40c has done very well indeed.

This morning the company publicly acknowledged the 12.21% substantial shareholding of IHA Group, all of which has been acquired since April, and confirmed that it has recently received several unsolicited and non-binding proposals from both listed and unlisted parties in relation to mergers and change of control transactions involving iSelect.

It appears that the predators are now circling ISU. It will be interesting to see how all this plays out.

 

[debtfree]

Will this be the kicker to activate the break out of the 0.35 level and start the trend upwards? Time will tell.

 

[debtfree]

Didn't have to wait long for this breakout.

 

[Dona Ferentes]

This morning the company publicly acknowledged the 12.21% substantial shareholding of IHA Group, all of which has been acquired since April, and confirmed that it has recently received several unsolicited and non-binding proposals from both listed and unlisted parties in relation to mergers and change of control transactions involving iSelect.

It appears that the predators are now circling ISU. It will be interesting to see how all this plays out.

Took a while, but the predator has snared this one. ISU has agreed to a deal to be acquired by IHA Group, the same company that owns its competitor Compare the Market.

30c a share, giving it a valuation of $72million. IHA had 29%, and #2 and #3 shareholders Thorney and Microequities Asset Management have accepted the offer so looking like a done deal.

Since listing; weekly (IPO at $1.85 a share)

 

[System]

On December 29th, 2022, iSelect Limited (ISU) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between ISU and its shareholders in connection with the acquisition of all the issued capital in ISU by Innovation Holdings Australia Pty Ltd.