George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Can someone explain to my ignorant self what the senior notes are?
Is Capita borrowing money & if so why & why at 9%
I’m sure I must have misunderstood this but any rational would be appreciated
By the way I think JL has done an excellent job & the timing is perfect for a new growth driven CEO
The only event that will get this going on a permanent basis is resumption of dividends.
This demonstrates that the board believes that sustainable Tax Free Cash is being generated & opens Capita up to income seeking investors rather than those just looking for a recovery play
Not a great build up so far for results day I do hope it’s not going to be yet another damp squid & we’re then left waiting for Y/E results 2023 or 2024.
Maybe it will get going in a week or so.
I really do think JL needs to be giving something to his long suffering shareholders I.e. Dividend or a date for a Dividend or a share buy back.
Under 700k shares traded so far today looks like the big sellers may have finished.
If this gets up to the 40s post results (& it’s a big if) I’ll sell half my holding & would hope to buy back at a lower price as CPI usually seems to drop after an initial rise. I wish I’d followed this strategy on the last rise.
Pedro I reckon cash assets now outweigh debt which is on a fixed rate & due for repayment over the next 2/3 years. Personally I would like to see CPI pay it off early & possibly they could negotiate a discount as current rates are higher than CPI are paying
The August results do need to be good.
With nil debt & probably some more sales before August & free cash flow I’ll be very disappointed if dividends aren’t reinstated
Apart from the share becoming income producing rather than simply a recovery investment it also shows to the market that the BOD have confidence in the company going forward.
Until we get resumption of dividends I don’t think we will get any permanent upward movement.
New contracts, disposals, elimination of debt etc only seem to have a very short term affect on the SP. So even if Dividends aren’t resumed immediately in the August statement I do hope that JL will announce a date for resumption
@Terry
I do agree in principle that it would be beneficial financially to outsource more.
However this means admitting that you are inefficient
A counter could be that Government/Councils etc decide that they can do things more efficiently in house (of course they can’t) & bring back work internally. The attraction for the government organisation is they can then employ more people & expand their power base. The end result, which takes years to become apparent, is an enormous increase in costs but those responsible have been promoted by then & moved on