Member Info for bigpunt

Nick, can you elaborate? Presumably if SBTX are looking to pay partly with paper it will be a minor issue, but surely the enterprise value has been set and agreed by both sides

Without any explanation, one has to assume that SBTX are struggling to finance it

As I've said before Yank, what's holding back VANQ is their tiny balance sheet. New CEO and CFO are proper 'bankers' so they need a balance sheet to do banking. I'm in full support

What a load of guff from the new CEO. Capita have not been delivering operationally for years, hence their desperate position. It sounds like he will be tapping shareholders in the next 12-18 months and we will see a lot more of the word "digital". I can't invest here. Good luck to all

The only thing holding COST back was the threat of going kaput. However cash performance is excellent. They don't carry huge receivables so you'd think they have traded rather well during 2023. Vaughan was bullish during the interim presentation. Everything points towards a re-rate when the results get announced

Doug, you should really have waited for the Scotland announcement

This could easily go down to £200m mkt cap if cash burn isn't improved. There's a lot of comment on here but a lot of it is futile until we know the impact of the large redundancies and how the how CEO articulates his priorities. He must talk about delivering existing contracts rather than 'transformation' (the most repugnant word in the corporate dicktionary)

Please share any commercial terms if you know any.....

It appears from Haven's announcement that they are responsible for premises fit-out. You would assume cleaning and any requested repair as well, leaving JDW just doing the food and beverages. Easy money

Minded, most 31 December year-ends can prepare their financial statements and go through a full audit by mid-Feb

Beachfeont - seems there are more globalists here than the government front bench

The point I made, which has been diluted somewhat, is that Capita has now been reduced to a core business which needs to deliver, operationally.

The mind boggles when the firm has just cashed in many many businesses in "non-core" markets, and we have a forum of shareholders talking about new products (AI) or new markets (internationalisation)!

Terry you make a great point regarding customer relationships. They are key with outsourcers, hence Soames doing so well at Serco

GoCPI, the mind boggles when the big contracting groups announce gargantuan reductions in administrative expenses.....I know that various default notices, pay less notices, consequential losses from breaches - they all get dumped in admin expenses. It's only my humble opinion, but it is why I believe they need a CEO focused on operational delivery. Kier and Mitie have both been through this and both seem to be out the other side, hence I do want to get in, but I want to know what song the new chief sings

Anyone is welcome to take a swipe at me but I would rather the board engages with the points I am trying to make. I would like to be proved wrong!

I would quite like to invest in Capita, I like their positioning although I'm not sure they strike the right balance between business development and operational delivery. I would like to see the new CEO address this. They are still hemorrhaging cash despite the efforts of the El Supremo of turnarounds, and the going concern risk is priced in. It's a time to buy if the right leadership in place. Hopefully the CFO goes first, beware an arrogant CFO

"There's many II who sold out probably due to JL leaving as he was the turn around king."

He sold a number of business units. Not sure what else he did. I once remember he did half of a results announcement on employee satisfaction. I'm not sure that is regal leadership

Bazza, if they used a regional shop then you will get a crap service around Christmas, but the fee would be 1/3 of MC and 1/2 of SC. If they went Magic Circle or Silver Circle they wouldn't have had to use this lame excuse

The part I found interesting was the reference to 'technology development plans'. Unless someone can explain otherwise, I am presuming the back-office of the target is significantly better than SBTX's. If that is the case, you have to wonder what synergies SBTX can realise from this acquisition strategy

"The Revenue figures quoted are expressed in 'Real Terms' obviously"

When has that ever been the case? Can you set out your workings?

Regarding the analysts, what is it in their buy recommendations that you particularly agree with? Or are they just pumping in consensus figures and calculating a price?

Regarding positioning of VANQ. New CEO and CFO have not had the opportunity to do almost anything. I still think it is far too early to expect good results and I am holding my ground before piling in

I have been short here before. I don't like investing when the price reflects a high risk of going bust and when management convey a strong ego

Revenue is going backwards: 0.7% (or 2.1%) in this inflationary environment is a contraction

Winning and mobilising contracts is always more expensive than renewed / retained contracts

Huge redundancy process is underway, cannot be known how disruptive this will be

And most importantly.....still haemorrhaging cash and will continue to in 2024

It seems that the only 'transformation' here is that the profitable businesses have been sold-off to fund the loss making contracts as they are run-off

In the words of Del Boy; no way, Pedro! This is the best share in the industry to be in

Maybe it is a lot simpler - perhaps a a few shareholders have told Tim they want out and Tim thinks it is good business to swallow up the shares using debt; we have just seen one major shareholder drop below 5%.

I'm still pondering why, strategically. I can only think Tim wants some dividends, unless he is considering carving out the hotel business under a separate listing?!