Member Info for BlueWiley

Good man… anyone else going to contribute to dinner ?

Quite a few interesting tweets…basically the Argentine Lawyers are shouting at the moon.

We all owe Seb a night out when this hits £20 . I’ll pay for his flights (Business Class) who’s going to cover his hotel?

Argentina has 7 days to respond

Less than 4% of servers impacted

20 April 2023

Capita plc – Update on Cyber incident

On 3 April 2023, Capita plc (“Capita”) announced that it had experienced a cyber incident which primarily impacted access to internal Microsoft Office 365 applications.

Since the incident, Capita and its technical partners have restored Capita colleagues’ access to Microsoft Office 365. The majority of Capita’s client services were not impacted by the incident and remained in operation, and Capita has now restored virtually all client services that were impacted.

In parallel with the services restoration activity, Capita has continued to work closely and at speed with specialist advisers and forensic experts in investigating the incident to provide assurance around any potential customer, supplier or colleague data exfiltration.

From our investigations to date, it appears that the incident arose following initial unauthorised access on or around 22 March and was interrupted by Capita on 31 March. As a result of the interruption, the incident was significantly restricted, potentially affecting around 4% of Capita’s server estate. There is currently some evidence of limited data exfiltration from the small proportion of affected server estate which might include customer, supplier or colleague data.

Capita continues to work through its forensic investigations and will inform any customers, suppliers or colleagues that are impacted in a timely manner.

Capita continues to comply with all relevant regulatory obligations.

All information and views are welcome - surprised you didn’t mention the SEC and accounting FAV issues also

Ace of plums.. can’t find a single post of yours that is positive about anything. Your not even positive when you are negative ..

Morning all

Great post GameA. This board on the whole is sensible and I enjoy reading all views. Some posters are positive posters (myself included) some are more balanced (thank god). We all mainly share the view that Burford is a great business and the valuation will increase hugely in the short to medium term. Do we all agree on this point?

They have 14 days to agree a way forward from last Friday .. it’s in the order unless I’m reading it wrong

I reckon a £11.50 close and £14 in 12 days time when the settlement deal is announced

Yes bought another chunk myself ..

….

Christopher Bogart, Burford’s Chief Executive Officer, commented:

“In our recent shareholder letter, we referred to the YPF-related assets as one of Burford’s four pillars of value and I’m pleased to see this significant step forward and the value it could create for our shareholders. The Ruling is a major milestone for Burford and we continue to see momentum in our overall portfolio and continued demand for our capital and services.”

I’m topping up first thing..

Any of our more knowledgeable posters have a view on this…

Not seen that report before very good…. Interesting point made here

“With Burford, one of the key elements of their employee performance compensation is that it is based on cash generation. An unfortunate requirement of Burford’s accounting is fair value adjustments. When they release results, a meaningful amount of their “income” is from marking up what they think the fair value is of their investments. This can add subjectivity to their results, though I believe Burford has released significant evidence supporting their conservativeness in marking up cases. Importantly, Burford’s employee compensation does not incentivize them to aggressively markup cases.

“We do not include non-cash metrics like fair value in our compensation assessments… our general compensation philosophy is team-based rather than individual as we believe that investing in this asset class benefits from a team approach and not assigning individual ownership of and responsibility for individual investments.” – Burford Capital 2019 Annual Report

Finally, equity ownership is high throughout the company. The two co-founders have large positions as expected, but they have also each bought several million dollars more of stock over the past two years. In addition, each co-founder has $2 million invested in Burford’s funds and $500k in Burford’s publicly traded bonds.”

Started off with c5% portfolio investment after the MW short report. Some valid points made by MW but fundamentally I reckoned the business is a “new model” that was open to critic but on balance made sense. Along the way the more I understood the more I topped up. The story evolved and topped up when I could and topped up again. The price kept falling but the logic made more sense. It’s now 40% of my holding ( probably a lot more on Monday).

Here is the thing - it’s going to double again in less than 50 days when the SEC and EY give this a monumental valuation boost. If that sounds crazy read the RNS trading update… it’s all there in black and white.

Long term holders - I bet you are buyers on Monday

What a day … Quite a few of us have gone big on BUR over the last few years cos we believed… this could hit £25 easily in the next few months and us regulars know why - more wins and SEC & EY sign off.. Well done the Regulars … you know who you are the ones that have posted and the ones who come here to watch and listen and learn…

God bless you all ..

Suspended at £7.54 up 30%

We all deserve this … Have a fantastic weekend and roll on Monday !

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