Member Info for bigpunt

Splitting hairs over coffees costing 5-10p each is penny wise and pound foolish

Maybe because they haven't cancelled the bought-back shares held in treasury?

Hx, with respect, you do obsess over the wrong things. They have stated that they have lodged something legal regarding the CMC claims which will become public knowledge soon. Perhaps they can buy during this period or perhaps they can't. Either way, they have set out the numbers, and in a very open and transparent way; they have also set out the strategy and stated progress is in part ahead of plan. Jumping on a buying bandwagon is quite frankly amateurish investing

Not invested here....

Just listened to the webcast. The CFO continues to have the body language and tone of a high achieving exec. He relentlessly obfuscates.

The new CEO talks far too much. Waffle waffle waffle waffle. The most interesting thing is that he is bringing in the expensive consultants to build the tech stack. One can only judge when some contracts receive variations to implement this tech. However you have to wait until Capital Markets Day to hear anything about this.

Recommendations: 1. find a better CFO. 2. judge Capita's prospects after Capital Markets Day

Looks like Mears won this £1.8bn contract

https://northlanarkshire.cmis.uk.com/Document.ashx?czJKcaeAi5tUFL1DTL2UE4zNRBcoShgo=BlmTIcsqG7HNbpPO0Wyq3ry21IpMQd%2bLJnUtBzx%2bxwHRIg5cysnTGA%3d%3d&rUzwRPf%2bZ3zd4E7Ikn8Lyw%3d%3d=pwRE6AGJFLDNlh225F5QMaQWCtPHwdhUfCZ%2fLUQzgA2uL5jNRG4jdQ%3d%3d&mCTIbCubSFfXsDGW9IXnlg%3d%3d=hFflUdN3100%3d&kCx1AnS9%2fpWZQ40DXFvdEw%3d%3d=hFflUdN3100%3d&uJovDxwdjMPoYv%2bAJvYtyA%3d%3d=ctNJFf55vVA%3d&FgPlIEJYlotS%2bYGoBi5olA%3d%3d=NHdURQburHA%3d&d9Qjj0ag1Pd993jsyOJqFvmyB7X0CSQK=ctNJFf55vVA%3d&WGewmoAfeNR9xqBux0r1Q8Za60lavYmz=ctNJFf55vVA%3d&WGewmoAfeNQ16B2MHuCpMRKZMwaG1PaO=ctNJFf55vVA%3d

Leapfroggy I would have thought most AIM investor relations queries will go straight through to the CFO. It is a 30 minute job per week

Elrico, the finance team can only be single figures in size, including the recent acquisition (which presumably operate entirely independently of parent co).

Regards M&A, it took so long to get deal #1 completed that no credit is due. I am a cynical sod, but I have little doubt this will have been farmed out to a consultancy outfit such as Evercore that will have done all the donkey work, although we will never know whether or not.

Regards financing the deals, challenger banks fall over themselves to provide convertible instruments to listed companies with big fees (and we will have to wait another 7 months to hopefully find out how big the fees were)

If your substantive point is we needed an M&A director, the salary for a private equity M&A director in NE would be circa £150k + bonus

Having re-read the update a couple of times, one needs to read this line carefully

"While the vast majority of these complaints are not upheld, the associated costs are likely to materially impact the Group's profitability in 2024. The Group is exploring proactive legal steps to address this situation."

There clearly is an issue here, which you would think will be quantified at Results, however the mitigation is not in place and I think the combination of these two factors has really spooked the market

However they have said, "Allowing for the factors described above, the Group expects to deliver adjusted PBT for 2024 which will be substantially lower than market consensus, resulting in a low single digit adjusted ROTE" so perhaps they have quantified the issue without detailing in this update?

Any thoughts or challenges?

Trisor, put that to one side. You have a business that spends 2% on interest, 1% on DB scheme contributions. And there endeth their competitive advantage

Profit warning? There is no whiff of the P word around here!

You can't buy in a closed period because you are deemed to have inside knowledge. Market Abuse Regulation

The acquisition was post-31 December so it is in SBTX's interests to get the interims out PDQ

No they can't buy - they are in a closed period (because they take ages to report)

Why would anyone buy here for long term? Net debt on an average daily basis must be enormous and will increase by another 1% of revenue before coming down. Surely the only way out is another equity raise, and at these levels, LTHs will take a bath

You can't 'kitchen sink' in a set of results when:

1. you are already trading and priced with a significant going concern risk

2. the CFO hasn't been rotated

3. you need some profitable and net asset entities to bid contracts from

"The most material assumptions, from a viability assessment perspective, relate to the continuation of adjusted revenue

growth, operating profit margin expansion, and delivery of cost savings."

Good luck mobilising new work profitably, whilst cutting cost and trying to deliver existing contracts more profitably. Advice to all: get out

Can someone tell me if Trisor is a wind-up short-seller or deluded buyer?

Why don't you email the company and ask for their "method"

This is a participant study run by academics oleric, do you really think they would overlook a simplistic and cynical challenge such as yours

What are you talking about dv? They wouldn't convert to immediately sell at a loss straight after entering in to the agreement

I think what is more likely here, is that our Board has speculated that at this share price, conversion of the bonds will result in inadvertently entertaining a new activist shareholder, and the increased likelihood of them being booted out at the next AGM

I thought it was cheap debt at the time, but it gets very expensive when the share price plummets