So CEO sells up corporate holding and drops the price then trfrs some to him personally and gets the 14p warrants?
That’s arms length!!!
Notaflipper - i dont think there has been "deafening silence since Monday's trading update"
There have been 2 RNS of insiders buying
IMO this company is as safe as any - debt of 427M with expected EBITDA of 350M - saying debt free by end of 2022
So under valued - didnt think we would see these prices again after August update, that is for sure - its worth double this all day long, hence why I am very happy to bag as many of these as possible at this price to avg down (having taken a ton of profit in 50s when short was openned and buying back in 40s
I missed taking profit last Nov when we hit 50p but every other time we have risen I have taken my profits.
Enjoy the ride all - CPI is always a roller coaster and not for everyone as many prefer the placid white horse merry go round
GLA
Maybe its shorts closing but sell off was way over done - cant believe that we have not had TR1
Could simply be that at this SP there are lots that see a great upside within 3 mths - this share never fails to amaze! Still many swings to come in 2022 IMO - safe share now with a decent balance sheet - 2023 is when the SP will act "like a grown up company" IMHO - until then we will see it up and down lots
Love this share - always make money on it
100%
Read a few and laughed!! - he shouldn't give up the day job!
In the meantime - relax all, the SP will go up at some point (eventually)
2phevs - you did really well to get your avg down to a price approx 2p below the lowest sell
They delay as much as they want, depending upon their goals though - with 40M shares traded Monday and 14M yesterday, we see about 6-7M today
From start of Oct to end of Nov, that was about the highest daily volume - most of that period was about 1/2 of that
It is only a couple of months ago that Schroeder added about a million quids worth (or more) at about 46p - unless the fundamentals have changed (and there is no reason to believe that to be the case) then more IIs will be in soon - 40M shares traded Monday would suggest that someone big has sold but someone big has bought! so really expecting 2 x TR1s if Im honest
from what Stuart Morgan wrote, they were amazed at the drop - and rightly so! It was nothing good nor bad in content - but the tone was not positive so has been taken as a negative - great opportunity for AMs and MMs to play with it -
Insane volume yesterday and high again today - the AMs dont like PIs making money - they want those shares that we bought in low 30s and I expect there will be many games between now and March to get more for themselves
Sadly with no news expected, this could go lower - crazy as the turnaround is working and profitability increasing - yet the mkt wants turnover!
Pre IFRS 16 Net Debt is only 427M - that is very fundable - as long as the restructure costs (below the line) are now finished and positive free cashflow is being achieved as expected now and from January especially - then Profits should be decent from Jan and funding debt is not a problem
Remember Net Debt 427M (pre IFRS 16) is what we know as debt - post IFRS16 debt (894M) includes leases for property/ vehicles etc that are above the line transactions in the ordinary course of the business
With the office closures that have taken place the last year or so, we should see EBITDA increase and I expect over 350M EBITDA when the accounts are out in march - this supports an SP closer to 80p (min)
Will we see 80p in March - I think not - but it just shows that 36p is a joke!!
Much easier to trade an under valued stock than an an over valued one!!
Trade on baby - trade on!
GLA
Aim - the difference with me and chairman buying is that I can sell tmrw or next week - he cant - he has to leave that cash for about as long as he is Chairman
Thats why officers dont buy loads and loads - agree that today I bought about the same as him and about the same price - but that will be sold at 42p and I will be happy with that profit
I ignore the CPI shares in my kids accounts but the holdings in my accounts, I keep trading because of last year and the way the shorts played us
Wouldnt be surprised if RWC have added today
As Eats said, Those after hour trades were probably just late time stamped
18 Trades - all indicative of buys - MMs have shopped for a few at bargain basement but doesnt look look anyone else will sell
This should now slowly move back to 6p maybe 6.8p over the next few weeks - then I expect it to swing around there until we get a proper financial update - slow long road back to 9-11p range
Hope im wrong but company dont seem to bothered about SP and just get on with adding contracts and getting sales to allow profitability - lt us that wants the instant results!
GLA
wow nearly 25% off an already low price for what it is - amazing
Revenue up slightly but the encouraging thing is that free cashflow from profits expected Jan 2022 - Revenue is Vanity, Profit is sanity
Its the profit we want and this is where we needed some guidance from a pretty poorly constructed RNS (IMHO).
There has been a significant reduction in the Pension hole (they told us previously that sale proceeds were being used for that) so I expect that they are less bothered by the debt financing
Expected with all the "savings" made, that we should've been looking at a reasonable profit H2 (this is the only thing that could be a decent plus come March and the full results)
Overall disappointed but frankly amazed that nearly a 1/4 of the value has been wiped off Mkt Cap and expect much of that to come back over the next week (not all though)
After hitting 50p last Nov and Dec and not taking sufficient profit, I definitely changed tack here - I have bought many shares in the 30s and sold out when we had 50p
Its been very profitable for me so I am attempting is again! Piling in at these prices and hoping to see a bounce and a little Santa rally as it is certainly under valued IMO and therefore easier chance to make money
GLA
So as motion 1 will pass and AMs get the rest of their shares at 35p on 23 December
Who is voting for motion 2 - chance to let another AM in by “strengthening” The BS again with another 10% dilution?
Alfreddie "the more stopes the more risk??"
Hope you're not invested pal
The response (blanket to all that emailed)
ie - nothing! (as expected)
Thank you very much for your recent email.
The recent announcement has led to further improvement in the balance sheet of the Company which provides added stability to its overall financial position. The key to increase shareholder value is to de-risk the project operationally and financially which this final tranche does.
We are working on the necessary steps required to increase our visibility on social media and are close to completing the necessary upgrades to our website.
We appreciate your continued interest in the company and wish you the very best as we head into the holiday season.
Didnt get to the mine Moon - didnt get opportunity this summer and definitely not going in winter! Bad enough here clearing over 2ft of snow for the wife to get to work this morning!
You must be even worse done by with this deal Moon if you offered them M quid on much better terms! K2 only put in a bit more and have a pile of warrants as well!
Anyway, looking fwd to response from Board as to why these were preferred and will reserve judgment until then
GLA
Mmmmm
Morning all!
Not sure how people are getting that this indicates a buyout- the terms the AMs have been given would surely be insider trading if there is a transaction like that.
To me it suggests nothing of the sort but just backing the great fundamentals of the mine.
Would love a buyout but pretty sure that ain’t happening soon.
Gla
Aim - this was junes update - that was decent info - I expect something as useful
21 June 2021
MARKET UPDATE
Capita plc (Capita) remains on track to deliver growth and strengthen its balance sheet
Trading
We have seen an improving trend in our trading performance in the first half of the year, in line with our expectations.
Capita remains on track to deliver revenue growth in 2021, for the first time in six years, despite the ongoing impact of COVID lockdowns, in particular in its Specialist Services division.
We have won a number of significant contracts this year, including the Royal Navy Training contract through our Government Services and People Solutions divisions (Total Contract Value £925m), the extension of a European telecoms client (TCV £528m) and an extension for Tesco Mobile (TCV £58m), both in Customer Management.
As a result, we currently expect Half Year adjusted revenue to be flat on prior year adjusted revenue.
Our operational performance has been good, with a positive start to our Royal Navy Training contract and successful ‘go-lives’ for Irish Water in April and on GP Payments and Pensions in May.
We continue to make good progress with our cost saving programme which, together with an improving mix from new contract wins and stronger operational performance, will see the initial benefits of operating leverage at the half year, as expected.
Cash collection has improved in line with underlying trading performance and benefited from better than anticipated customer payments. Liquidity remains strong at £689m on 17 June, ahead of the scheduled repayment of c.£160m of private placement notes in July.
Non-core disposals
We continue to deliver on our plans, set out in March, to strengthen the balance sheet over the course of 2021.
We are making good progress with our planned disposals, and we remain on track to realise combined proceeds of at least £200m in 2021 (in addition to the £299m initial payment received from the sale of ESS in February).
The first of these, the sale of Axelos for an enterprise value of £380m, which will generate total cash proceeds to Capita of £184m, was announced this morning.
Preparation for the sale of other non-core businesses, which will be held in our new division Capita Portfolio, is also progressing well. We will provide further updates as appropriate.
Future Capita
We are well advanced in our plans to implement the next phase of our transformation.
In August we will move to the new structure of two core divisions, Capita Public Service and Capita Experience, and the third division holding our non-core assets, Capita Portfolio.
Capita remains on track to deliver £50m of annualised cost savings from 2022 onwards, associated with this structure, as announced in March.
Our half year 2021 numbers will be reported under the current operating structure, with Full Year 2021 being reported in the new structure.
Hi Tim
I trust you are well
Please could you tell me if there is “any intention of answering any of the big unknowns” (i.e., why the dilution rather than taking loans that had been agreed and previously RNS & who the Asset Managers are and why they have been preferred), before the votes are cast at the GM?
Just wanting to understand the boards consideration of Private Investors.
Kind regards
M
Martyn
We are formulating a reply for shareholders who have expressed interest in the changes to the financing. We appreciate your patience.
Regards,
Aim - they put out a decent trading update at the end of H1 (June) - It was then backed up with the financials in Aug
I expect that we will get a similarly detailed update about H2/FY when we get it - hopefully next week
The level of scrutiny in every word in that statement is huge (and needs verifiable data)
So I think we will have a very good idea as to what March financials will look like
Just hoping that the old contracts that will have expired H1 are all cleared out and the new contracts (esp RN contract) that started end H1 or H2 are as profitable as they expect them to be
CPI is a different business from what it was 2018/19 - its becoming more tech focused and driving for sustainable profits rather than turnover
Lets hope they are delivering what they said they would be in August
If so, we all have nothing to worry about!!
Good luck all (as we sneak into green for the day!)
Inspi - You won’t convince them!
The pub landlord, the chicken feader and the cobblers are way more experienced than any Investment Banker, M&A specialist and Corporate lawyers.
But that’s what you get on an open forum like this (Twitter for stocks)
I shared my personal holdings with LTH on discord showing 1.06m shares and the rest are in kids ISAs and their investment accounts.
I’ve bought that past week averaging up
We will all make money from here. BUT beware of what could be the meaning for the dilution.
That’s it. GLA