Member Info for TerryM1

Unfortunately I am not the only one who take a dim view the action of the BOD on the hacking incidents. This is now being reported in the USA.

Capita Issued Erroneous Breach Details, Officials Report

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The company has resorted to corporate doublespeak in a bid to minimize the severity of the hack, trotting out a made-up measure of affected "server estate" to measure the severity of a hacking incident

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"We are extremely unhappy with both the data breach itself and Capita's failure to provide us with swift and accurate information about what they have discovered," the Adur & Worthing Councils said. They've referred the matter to Britain's Information Commissioner's Office, which enforces the country's privacy laws.

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For a company whose name literally means individual, and which trumpets its ability to help others "achieve better outcomes," Capita's inability to fully understand - or communicate - the impact of its recent breaches on individuals certainly seems ironic.

Likely its clients didn't expect to pay for this type of outsourcing.

https://www.bankinfosecurity.com/blogs/capita-issued-erroneous-breach-details-officials-report-p-3448#:~:text=British%20security%20researcher%20Kevin%20Beaumont,data%20spread%20across%203%2C000%20files

Elementary Data Breach Questions Remain, My Dear Capita

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Instead of detailing how much or what types of data got stolen, the London company wields a nonsense measure, stating Wednesday that hackers accessed "less than 0.1% of its server estate."

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Capita isn't the only company on the hook over its data breach. Last week, Britain's financial regulator contacted companies that contract with Capita to provide services, warning that they must check if the data breach will require them to also issue data breach notifications to both their customers as well as the Information Commissioner's Office.

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Whether or not Capita has yet delivered detailed information to its customers about what was stolen, so they can notify their impacted customers - or any other individuals whose data they were handling - as yet remains a mystery.

https://www.bankinfosecurity.com/blogs/elementary-data-breach-questions-remain-my-dear-capita-p-3443

Awr88

Not really looked into or that concerned about price movements which are within the last 5 years. However I am very interested on what the BOD have done to the Share Price and rights issue money. At the beginning of the reign of the current BOD to now CPI shares have lost a lot, in fact almost all their value. However this is not my main issue, it is that the BOD asked for 70p cash per share in the rights issues with promises of a recovery. They took the rights issue money and money from selling off a lot of the business and turned this into a share price of 32p

So since you brought it up let’s look into the share price. They were more before but were around £1.31 post rights so gone from £1.31 to £0.32 under the current BOD.

There was covid but the BOD decided to use this as an excuse for poor performance, unlike other companies which used this as an opportunity to make money from administering the government support schemes when they were throwing vast amounts money about. Unfortunately the BOD were so fixated on finding excuses they missed the boat.

LAUGHINGHELPS

"those shares you bought at ipo must still be worth more than 10 times what you paid for them, and add in all the dividends not a bad investment”

I do know the value for CGT which I keep for tax purposes and but I do know I have lost quite a lot of money ignoring my ISA loses. Have not added in the dividends so not sure about the overall situation. The ones in my ISA bought at 700p and a couple of dividends so a huge loss. With everything considered I suspect it will be a largish overall loss.

However this money was invested a long time ago and even if I am making a paper profit (almost certainly not the case) you need to factor in inflation and what else I would have done with this cash. It was very likely to have gone into property as I that what I was investing almost all of my money at the time. Either way this company is a disaster but as I say anything before the rights issue is history.

“ let’s hope history here repeats itself and all the new investors can do as well as us old ones who invested back in the 90’s.”

We can all dream and really hope this is the case but the last 5 years have taught me not to expect anything but loses from this lot, for me I hate to lose money but do not take any delight when I see other people lose which obviously happened to most who invested here.

This is now the fourth time this has happened to me, huge paper profits mostly lost, the other 3 cases where not anywhere near as bad as this and I did end up making good money and never added more money in rights issues etc so I have no ill feeling about these.

LAUGHINGHELPS

I really hope that Capita gets the FAS contract, gets over these data breaches without too much in the way of costs and enters the FTSE250, as a shareholder I am desperate for some good news.

Before the rights issue is history under different management so no matter what I made or lost it was not down to JL and current BOD. However the rights issue was under JL and current BOD, of course I regret taking up the rights issue, who would not regret it, 70p 5 years ago and add in inflation. IMO I was mislead by the prospectus and other statements by JL and the BOD and as they are still in charge so I do not regard this as history and to make it worse for 5 years they have been taking these great remuneration packages while us shareholders lose out, not 1 dividend which are still just speculation.

For the record I bought more at 700p (profits I made from ARM takeover) a time ago on what turned out to be at the very least misleading information from the old BOD and the worst of it was this was in my ISA so capital loses can't be used for tax. As that BOD have gone this is history and obviously nothing to do with the current lot.

Inflation 8.7% and falling, yield 7.7% and rising as SP dropping, won't be long at this rate before the yield is greater than inflation unless there is a dividend cut which I think is unlikely.

With spare cash not earning much and dividend not covered they could buy their own shares at a 14% discount and cover the dividend. Also does not make sense to offer scrip dividends when discount so high and make the dividend cover even worse. They could of course buy more assets but would they get these at 14% discount . The problem is that if they bought their own shares then the company size would shrink so less money in fees although IMO it would be the best option for shareholders.

LAUGHINGHELPS

“What exactly has got worse? “

Have you not been following the reports, nonstop, now the scale of the problem is coming to light after JL and the BOD keep trying to play it down, over 2 months now and Capita still either don’t know or won’t say how much data was taken. Until Capita come clean these reports will keep coming and make the situation worse. Even if no more information is comes to light the sheer number of the bad reports are making the situation worse.

“Nothing new in that report”

Report, which report, there are many reports which are either from the ICO, Customers or press, a lot of these would be stopped or the sting taken out if Capita do their job and release the info on these data breaches instead of letting the press take the lead.

“we all know you blame the current board for losing you £100k’s of profit, but it was your decision to hang onto your shares, if you had bitten the bullet and paid your capital gains you would of been in a very different position.”

Who else should I blame especially after the BOD said at the rights issue

The successful implementation of the new strategy is expected to generate at least £200 million of sustainable annual, post-tax free cash flow in 2020.

The main issue is not the loss of the money I already had invested in Capita but the money I stumped up in the rights issue, good money after bad comes to mind. In those days JL and BOD were new to Capita and from what they said looked like they would turn this around, knowing what I know now about them I would not give them a penny, they have been nothing but a money eating machine.

“I notice no comments from you on yesterdays good news. What’s your feeling about the huge contract win, despite all the bad press and criticism about how they have run that contract in the past?”

I think you should read the RNS, or perhaps just the header

Capita selected as preferred bidder to deliver new FAS

They have not yet won the contract, the info is in the part “selected as preferred bidder”. Lets' hope they do win this and have priced it correctly so we make some profit , more than they have on number of contracts in the past which have run at a loss. But of course they can run to form and c**k this one up.

“Maybe they were doing a pretty good job despite what the press said?”

They will be doing a good job when the profits really start to hit the balance sheet, stop selling off the family silver and a decent dividends are being paid, over 5 years since the last dividend.

The one good piece of news is being selected as preferred bidder to deliver new FAS, this had kept the SP up and hopefully we get back in the FTSE250.

This just keeps getting worse like some horror story, so now we know there are 2 data breaches, cost of up to £20m (I would not be surprised if a lot more). Numerous companies and government bodies reporting possible data loss to the ICO. Possible fine of up to up to 4% of its global turnover (£2.8bn), I guess we can add in be compensation claims of who knows how much. So I suspect the responses of the JL and the BOD will be to sell more of the family silver (if enough left) and pat themselves on the back for doing a job making these sales.

All this time while JL and the BOD say nothing to see here, we don’t think any data taken, it is only a small amount. No wounded the press are all over it, the press know far more about these incidents than JL and the BOD or are they just lying or trying to keep us all in the dark. Either way this is IMO incompetence which how they have run this company since they took over.

No dividends seems the least of our worries now.

Https://www.londonstockexchange.com/news-article/LMP/recommended-all-share-offer-for-ct-property-trust/15969498

Seems a high premium , 34.3% to share price but below NAV, anyone got any thoughts on this?

Diversified Energy Company PLC (LON:DEC) Is About To Turn The Corner

https://finance.yahoo.com/news/diversified-energy-company-plc-lon-062403565.html

A prime example of the way this companies is perceived by those that do not understand how the hedging works.

CraigJD

"Why are people just here moaning about how shxx cpi is. The world is your lobster NEX, VOD, HBR, WG, all rock bottom, dividend paying, just saying."

For me it is waiting for the right time to use the Capital loses and hoping that the Capita will not find new and innovative ways to lose more money.

Trenners

I wish I had your optimism but for more than 5 years now all JL and BOD have done is made promises, missed these promises, under delivered, lost money and given themselves great remuneration packages. For me it is better to expect the usual poor performance otherwise it just leads to continual disappointment. JL and the BOD seem to have found the railway's book of excuses or perhaps they wrote it.

It is difficult to know if has been blown out of all proportion when all Capita have done is try to play it down, don’t think data lost etc and bit by bit they start admitting more including data has been taken but will not come clean and at best only confirm what has already in the press. In time we will know what has really happened. The question is are the press write (so far they have been) or Capita (so have not been), perhaps somewhere in the middle.

If we miss getting into the FTSE250 because of this latest screw up that unfortunately is par for the course for this lot and will not end well for us shareholders but of course JL and the BOD will not lose out.

Looks like they are sitting on cash earning low interest with the result dividend not covered. They could sit on this cash and reduce dividends, watch it burn away supporting the dividends, invest it in new properties which would be at NAV or buy own shares with over 20% discount to NAV so cover the dividend. I don't usually like share buy backs but in this case it looks by far the best option. However that would shrink the company and so less fees for the BOD.

The problem is now the Conservatives and and Labour are in competition on how many new taxes they can come up with and how much they can raise the current taxes. I suppose at least Labour are not saying we are the low tax party or did I hear someone say freeze council tax.

Rafflesintheuk01

Are you serious Times looking into themselves and the joke of the jobsworth FCA.

With IWEB if I transfer shares between my Share account and ISA I can do this as single transaction (1 fee) to sell in Share Account and buy in my ISA over the phone, except for REITs (and some others). This is because the FCA say I must accept the KID (tick box) and it can't be done over the phone so you have to do this as 2 transactions so 2 fees.

The FCA are great, they protect me by making sure I tick a box to buy a share I already own and also stop me from buying in Placing as they tell me a do not know enough so I must be protected but will happily let me buy the same share for a higher price and charges on the market.

A lot of the time there are unusual price movements on shares I own (bad news, good news, placing coming up etc) and I find out the reasons a few days/week or so later when the news is released and of course the FCA do nothing with this insider dealing, far too difficult. In the US this ends up with people in jail.

Just been stitched up by large shareholder on 2 companies I have shares in, both sets PIs furious, one was more or less blackmail, the other to protect the BOD jobs by stopping a takeover and in return buying assets from what is now a large shareholder at 3 or 4 times market value. If interested take a look at boards for SQZ and KAPE, where are the FCA?

Can’t see them being bothered to look into this, take on the Times and perhaps other newspapers far too difficult but won’t be long before more tick box regulations come out for private shareholders but not for institutions.

Sorry should have said

purchases I made since the IPO but before the collapse and the rights.

LAUGHINGHELPS

You can also add in some other purchases I made since the IPO and the rights

LAUGHINGHELPS

“@gocpi I don’t really understand how TM1 has managed to make a loss here given I think he said he invested at ipo, I suspect he is talking about a huge drop in unrealised profit rather than an actual lose.”

I will answer that for you.

If you go through my posts you will find out but I will repeat it.

When the rights issue came I was still well in profit, if I let the rights laps they are sold in the market and get CGT. So I sold as many as I could to avoid CGT and had to take up the rest, share price at rights 70p, you do the maths. By the way that 70p would be perhaps more like 95p taking into account inflation.

Although I did have reservations about CPI at the time I did not think the BOD would do such a good hatchet job on the SP and no dividends for 5 years especially after what they said in the prospectus.

Gocpi

Thank you for your considered reply on this, I agree with a lot of your points in this post.

Although you may not think so I am wanting to CPI do well, posting negatively on this on forum will not make one bit of difference to the SP. The point of posting all links to press articles which say more or less the same thing is not to keep repeating the same point but to show how this is reported and perceived in the outside world. For me this is partly caused by the BOD not getting out in front of this issue, the hack is bad enough but IMO had been made worse. Then we come to the issue of loss of new business even if the pension companies know CPI are doing their best it is what is perceived by their customers that counts and that is influenced not just the content but the number of bad press reports. As has been quoted to me about trading/investments,” It is not what you think that counts, it what they think”. Individuals potentially hacked won’t complain to Capita but to the company where they have a direct relationship with questions like why are you still using Capita when all I see all these bad reports. For me almost 2 months after the hack and still the press stories come (make it stop), is not good handling of the issue, these stories need to be stopped and IMO the only way to stop these is for Capita to take the initiative, get out in front and then perhaps take a hit and we can all move on. Another good quote from trading/investments I have heard is “Just because you think that they have all got it in for you does not mean they haven’t”. Well perhaps the press have it in for Capita, you won’t change the press so the BOD must be super cautious not to help them. Perhaps "Infamy...Infamy.....they've all got it in for me!" may be poignant here and if unkind I could say "Carry on Losing Money" is appropriate for the BOD.

All in all this could not have come at a worse time when CPI could go back in the FT250, I fear if they miss this due to hack the SP will tumble but that seems par for course for this company.

For the record I have lost many times more than £150k from peak to now, that’s history and nothing to do with the current BOD but my problems with the current BOD are with the rights issue and what has happened since then. But fortunately taking into account all other shares I am in fact up.

Not sure what the wholesale price for gas in the UK but I would guess the same as the rest of the world. There will be lag in lower prices hitting consumers as the government insisted gas companies bought gas into the future to prevent quick price rises. So the UK government rules (or lack of them) meant when it was going up we got the high price and then brought in these rules which we are stuck with higher prices for longer.

Henry Hub (US) prices are very low and at pre covid levels but have gone from around 2 to 2.6 in last few weeks.

However all prediction for gas prices is that they will be rising in the medium term.

GoCPI

“The likes of NoFear and TerryM1 are so backward looking in their reading of the room that its a surprise to me that they ever make money in the stock markets - IMO.”

Well looks as though you’re reading of the CPI share price went well, remind me what was the share price before the hack, so how much did you make? Looks like the thing that is going backwards is the share price. Probably only thing holding it up now is the prospect of entering the FTSE250, if it drops below the entry point then it is likely to keep going down.

“if CPI goes down because the broader market is breaking down, that's fine. Banging on and on about the attack when the full diagnostics are not through and they themselves don't know what data has been taken, smacks of a lack of understanding of Cyber attacks outcomes or a more mundane agenda such as 'trying' to drive the price down through constant tripe!!”

You really don’t get it, nothing we say on this board will affect the price, It is not me banging on as much as it is the press and I am posting what I find, right or wrong this is harming the Capita share price and future prospects, some of the sting could be taken out of this if the BOD managed this correctly and perhaps we would lose less money and future contracts. I suggest you start a Capita fan club where the only entry requirement is to praise Capita, this is an investment not a football team.

I was waiting for you to have another go at me so bring it on, as I say I find it quite amusing.