Member Info for NOFEAR

Jimuthytrue
Let them going play with the Serco shareholders that today are having to deal with a 11% bruise after their CEO announcement of stepping down. I cannot get it why they have do much hate for Capita. Best of luck for this new trading week.

Pardon. Am I bad.(*_*)
Thick not *tick. Oops. I did it again. Baby hit me one more time.

Hi David. Great to see you around here on a Saturday afternoon.
I totally agree with you. Mello thinks that we're not able to figure it out that when they began posting doom and gloom this morning, that AimMaster2018 wouldn't be ready to follow behind. We know very well how they like to play us along and usually before they go on to post 'negative' headlines, is because they've crawling the Google search engine hoping for something to grab and post here and so to get the doom and gloom topic going with that massive belief that they'll strike lucky with the ones that will panic and sell first thing on Monday morning. Please guys, don't overwork yourselves and save your energy for something that will pay your energy bills as Capita will not give it you on the plate. There's plenty fish to catch elsewhere and definitely and surely you're not going to get anywhere here. How tick how can someone be to realise the incoming risks whilst attempting to short cpi or worse miss out on its incoming rise that leave you guys with your mouths wide open and major shock wondering what did you or did you not do right.
Baby Hit Me One More Time.

^BlueWiley. ThankYou. You're right indeed. Lse needs reminded.(^_^)

^Jimuthytrue. No worries. When I can help, I will definitely drop it here.

^Philorkil. Thanks for dropping that Rns. Bloody Lse BB admin. Get it done.

Thank You to both of you. sharehead GMAN12
It was a pleasure to seek out the info straight from the horses mouth.(^_^)

By having more accurate information on Capita business operations, we as investors can be reassured that we're not in limbo.
Have a good1 everyone.

Good Morning Wednesday
Thanks for your kind words.
Very much indeed and I believe it so. He called me back at 10am today, as you
know I had left a recorded message asking him to call me to discuss what happened with them not announcing Optima Legal sale with an RNS.

When I answered his call, I asked him if he remembered me from the last times I previously called him asking for this and that. He said very much indeed that he remembers me. What a pleasure to be liked.

Tbh, I would really love to tell him what I really think about Capita way of publishing those mad to understand financial statements and at most disappointing trading updates too. But, I can't as he would probably hang up on me. Best of luck and have a good weekend.

May her Majesty the Queen Elizabeth II rest in peace.
Thank you so much for your 70years of dedicated service to the people
of Great Britain and beyond. There will never be another Queen like you.

I just spoken with Stuart Morgan who has confirmed that the disposal of Optima Legal was just a small deal that they chose not too announced even though the Australian PEXA Group chose too instead. Moreover, I made him aware that I knew what Capita paid for Optima Legal as it had been published in their financial statements year ended 2013 as seen on Companies House company pdf records and that I had a fair idea what it could had been sold for to the Pexa Group.
He replied saying that Capita got a reasonable good deal for its disposal.

The conversation continued with me asking for Pay360 and at what stage is the bidding process is. Stuart said that we're on the second round of bidding and will be definitely sold but can't guarantee that the funds from the Pay360 sale will be received before the end of the year.

Also, Stuart mentioned that the People Solutions unit was up for sale and would hope to be making sale announcements of this and others within three months. He also said that at his speech on the 20th September, he will be basically talk about Capita moving forward and what's on the table and also discuss the recenty announced half year results H1 2022.

And finally, I thanked him and said that 'we' as a small group of Capita investors will continue remain invested in Capita whilst we await for these disposals to take place and allow the company to complete and move forward.

He then replied that we shouldn't be jumping out of our cpi investment at this stage.
I presume he wanted me to understand that Capita BoD will eventually achieve what has been promised to do and that if we pulled out at these stages, we would be missing out as the best is yet to come.
That's all guys.(^_^).NoFear

10 AUG 2022 [PEXA UK] signs up its first wave of lenders to ‘go live' that I presumably believe was after deciding to buy Optima Legal from Capita that was then announced on the 7th September and for which it then appointed a UK Board.
The following pdf file link below will show you the PEXA Group 2022 Annual Report that was published on the 26th August 2022 where it says on page-9 that it would 'go live' on the 10th August 2022. Please look through for it.
https://investors.pexa.com.au/DownloadFile.axd?file=/Report/ComNews/20220826/02558810.pdf

Perhaps someone can figure out if they will have used the full cash reserves shown in the 26th August AR.
Remember this phrase that was in the news sale story:
First-year loss expected. Optima Legal’s acquisition from Capita plc will be funded from PEXA’s existing cash reserves

Optima Legal Services Limited - Full Companies House Filed account pdf records available here starting from 13 Apr 2006 to 29 Jun 2022. Click on the link to see the full accounts records posted year by year on Companies House--> https://find-and-update.company-information.service.gov.uk/company/05781608/filing-history

Also, the following worded phrase has one less (0) 'consideration of *£21,20,000millions'.
It should read instead as: consideration of £21,020,000millions.
Sorry.(^_^).NoFear

Optima Legal (Scotland) Limited that later renamed itself as the: MORAY LEGAL LIMITED Company, has nothing to do with Capita and are not part of Capita at all. They're totally independent and has no connection with Capita.

In September 2013, Capita Legal Services acquired the England based Optima Legal Services Limited (including the wholly owned subsidiary Cost Advocates Limited) for £1million pounds. As part of the acquisition accounting of the latter transaction, the loan balance due to Capita Business Services Limited was reduced by £15millions pounds.
On the 30 June 2014, 63 ordinary shares in Optima were issued to Capita Business Services Limited for a consideration of £21,20,000millions, the proceeds of which were utilised to settle the outstanding loan due to Capita Business Services Limited. The net liabilities of the English based business was £24,676,165 on the date of disposal. The turnover of the English based business was £12,785,000, with costs of £15,204,000, resulting in a net loss of £2,419,000.

The above information and much more can be officially verified by downloading the pdf file from the Companies House website and go to page-13 of this file here--->> https://find-and-update.company-information.service.gov.uk/company/05781608/filing-history/MzEwODUxNzUwNmFkaXF6a2N4/document?format=pdf&download=0

It explains in full what has Capita Legal Services paid for the England only based Optima legal and the Cost Advocates Limited company as a whole purchase.

Also, the Scottish based business of Optima Legal Services, was acquired for a cash consideration of £4,700,000millions by Optima Legal (Scotland) Limited on the 23rd September who then later on renamed themselves to: MORAY LEGAL LIMITED Company with registration number SC459802.

Optima Legal (Scotland) Limited had been registered purposely so that it could continue with the Scottish based clients passed on by the England based Optimal Legal Services during it own disposal to Capita Legal Services Limited being the English side of the business operations.

My apologies the link below is the one for net earnings for 2018 and 2019 years
Click here to see the net earning: https://ibb.co/BrM3Ch4
OPTIMA-LEGAL-SERVICES-LIMITED-ANNUAL-REPORT-FINANCIAL-STATEMENT-YEAR-ENDED-2019-plus-previous-2018

OPTIMA LEGAL SERVICES LIMITED BALANCE SHEET AS AT 31 DECEMBER 2019 and it mention the 2018 figures too.
One single image extracted from the annual report financial statement 2019.
Click and Zoom in to view the 2018 and 2019 net earnings here--> https://ibb.co/q5ZdYKt

OPTIMA LEGAL SERVICES LIMITED BALANCE SHEET AS AT 31 DECEMBER 2019 and it mention the 2018 figures too.
Full breakdown of earnings,costs,profits and ect ect. Very interesting hard facts with figures.
It was signed off on the 22nd September 2020. Get the pdf file straight from Capita site.
https://www.capita.com/sites/g/files/nginej291/files/acquiadam/2021-04/capita-s172-C0218-Optima-Legal-Services-2019.pdf

In the meantime, I will search for the previous years and 2020 too balance sheets pdf files.
If anyone wants then to work out at what possible price Capita might had sold Optima Legal to Pexa Group,
then you've got at least for now the 2019 and 2018 figures seen in the above pdf to reflect on.

It all started on the 19th September 2013 when [Capita acquired Optima Legal Services] for an undisclosed sum.

Financial services outsourcing firm Capita plc has reached a conditional agreement to acquire the English business of Optima Legal Services, including its subsidiary Cost Advocates.
https://www.mortgagestrategy.co.uk/archive/capita-acquires-optima-legal-services/
Does anyone have a way to find out if Capita has ever reported the year to year profits of Optima Legal Services, for which the acquisition was to become part of Capita Legal Services, a new, wholly-owned subsidiary of Capita plc

8th September 2022 - A Contract Award Notice - by NORTH TYNESIDE COUNCIL
North of Tyne Combined Authority and North East LEP Wave 3 Skills Bootcamp
Duration: 9 months - Awarded value for contract services is [£22M-£29M] to be
divided among 14 suppliers including Capita. https://bidstats.uk/tenders/2022/W36/782368842

To search for other contracts awards under Capita and other outsourcers company names, remember to go here and is free to search albeit it block users after a few tries. If you don't want to register with BidStats for free, then just delete your BidStats cookies and do as many tries as you wish until it blocks you again. Cheers. Search the word: Capita here--->> https://bidstats.uk/

Great Stuff Cashola. (^-^)
I have just done that. I left a message on Stuart Morgan's answer machine. I've said that we're a small group
of cpi investors that have been made aware that Capita Optima Legal has been sold subject to approval,
to the PEXA Group. I also asked for an explanation as to why we're not getting told of that materially important
transaction as we're cpi investors and should had been told with an RNS or at least have it placed the news story
on the Capita news tab section where all company updates are published. As you may not have been aware
before, this is typical of Capita BoD and investor relations attitude towards the smaller investors and perhaps is what
comes across as arrogantly unacceptable to the Institutional Investors too as they don't necessarily have it all known
as we may think they do. I personally believe that Capita will never change its ways of reporting and shouldn't be to keen into believing all they wish us to wait around to happen now or sometime in the future. As the old saying goes:
A leopard never changes its spots. It suits Capita to be operating this way but not me and I presume everyone else that's invested in cpi.
And finally, if I hear anything from Mr Morgan, I will update here.
Best of luck.

GoCpi,
Please be thankful that like you here today, also many others here have been made aware of something that you weren't in the known and therefore be decent enough not to shoot the messenger(NoFear), who took time to post that breaking news article just in time before you've got up to have your breakfast. As I said before, me and you won't be get along, but just post something useful for a change rather than picking hair out of others posts.
Culley01 might have quoted £pounds instead of $AUD. Big deal.

Thanks Culley01,
I knew that you were very switched on and that you only needed some hard facts and figures to work out a near enough amount to that undisclosed amount. Sorry for my repetitive words. It's all needed for better understanding; I guess. (^_^).

Anyhow, the Pexa Group hasn't lost one day whilst the await be approval of their purchase of Optima Legal remortgage firm.

Read here what Pexa has already started doing with Capita Optima Legal remortgage platform.

The Pexa Group has of yesterday 7th September, begun the integration of their remortgage Platform software into the system of Hinckley & Rugby Building Society who was the first lender to use this system to serve a digital remortgage alongside law firm Muve, completing the process “in minutes, rather than days,” according to PEXA.
The process saw lender and law firm deal with both the financial settlement and the application for registration with HM Land Registry.

PEXA says that Shawbrook Bank will be offering this service next.
Additionally, with the Bank of England, it has developed a payment scheme for use in remortgages, named PEXA Pay, which has recently completed its testing phase.

PEXA UK chief executive James Bawa comments: “The acquisition of Optima Legal marks a significant step forward for PEXA in the UK and demonstrates the strength of our commitment to delivering transformational change that will benefit consumers, conveyancers and lenders alike.

“We look forward to working with the Optima Legal team to integrate our technology, showcasing the benefits of digitisation – from improved accuracy and efficiency to reduced costs. Importantly, our platform will remain available to all.

“Working with stakeholders across the industry, and starting with remortgaging, we aim to streamline a conveyancing system that has been under significant pressure.

“One in five borrowers have abandoned the remortgage process in the past two years, given delays, complexity or poor experiences. We want to make that is a thing of the past as interest rates rise.

“This announcement complements the confirmation of our first two lenders to go live – Hinckley & Rugby Building Society, our first reference site with a strong track record of supporting new technology entrants into the UK, and Shawbrook Bank, our first retail bank.”
https://www.mortgagefinancegazette.com/uncategorised/pexa-buys-optima-legal-capita-08-09-2022/

Hi Culley01,
You might be able to decipher the figure that Optimal Legal got sold for to Pexa.

If you read this interesting article, the publisher wrote some interesting points on that Pexa Group purchase and perhaps you could work out what they might had paid for Capita Optimal Legal.

And I quote:
" Two weeks after announcing a full year FY22 statutory net profit after tax (NPAT) of $21.9m, up from a loss of $12m last year, e-conveyancing firm PEXA Group (ASX: PXA) has announced the pending acquisition of leading British remortgage processing firm Optima Legal, from Capita plc (Capita) for an undisclosed amount.
Given the strategic nature of the acquisition, the acquisition is expected to generate an immaterial operating loss in FY23.

Read the full free article here to continue with the above quoted info.
https://www.marketindex.com.au/news/pexa-consolidates-uk-footprint

Hi Sharehead,
If you read the article below that just got published minutes ago, it will reveal that the Pexa group who bought Capita Optimal Legal was itself subject to bidders for a unit that themselves had and were wanting to sell for which they very recently did. Imho, this sale hasn't it the market makers desks as yet.
Let's see.
https://www.euronews.com/next/2022/09/08/pexa-group-expansion-uk