Member Info for TerryM1

Going to China now

https://www.ftchinese.com/interactive/109588/en?exclusive

Given the amount of cash available and the borrowing DEC should not need to go to the market for more cash when more accretive opportunities come along (which could easily happen at these gas prices) so this pressure should be removed from the SP. I generally do not like share buy backs but these could offer better value (for a time) than new purchases, the shares can be kept in treasury and sold back to the market if/when SP recovers and there is need of cash for new purchase. Something should be done to try to get this SP off the floor or DEC will find it difficult to raise cash on the market no matter how good an opportunity comes along.

Also I guess some of the fall is due to the falling $, as UK inflation remains stubbornly high the BOE might have to have interest rates higher than the US for a time giving the £ a boost.

LAUGHINGHELPS

Since the hack Capita have been behind the curve, nothing to see here, deafening silence (as has been reported), don’t think data has been stolen (especially when data was already published on the hackers website) etc, etc. Does not look like coming clean to me or perhaps they have no clue on what has happened due to poor security and data controls. It has now been 7 weeks since the hack and the stories keep coming with more information, I call it asleep at the wheel.

With a high profile company with a lot of government contracts and a poor reputation to say the least it is so obvious the press will be all over it. I predicted this but the BOD preferred to play it down giving the press a big target to aim at, it is not a conspiracy against Capita it is what the press do and make money from it (right or wrong). So far very little information has come from Capita except to try to play it down and virtually all from the press. To stop these press attacks Capita must get out on front and then there will be less interest by the press reporting what Capita have already reported will not produce the same headlines as more and more information about the hack from Capita customers and other sources comes to light.

Will JL and the BOD take a cut in pay for this, no chance but of course the long suffering shareholders will as usual take the full hit.

Notrex

Great article however missing the ESG requirements to list in London another factor working against a UK listing

Great article, WFT gets a mention however missing the ESG requirements to list in London another factor working against a UK listing

Https://moneyweek.com/why-uk-equity-market-is-shrinking?utm_term=F9AD8563-F40E-49B2-97F5-FEC8F5583DDA&utm_campaign=3854FBCB-FE1F-457E-9C9A-87C5805A0127&utm_medium=email&utm_content=5671D29B-EB46-4A5D-9FD2-4DFF8FEA91B0&utm_source=SmartBrief

More from the FT, Capita should come clean and get out in front on this or it will just keep coming and look as though Capita is trying to hide facts as they have done so far.

Tens of thousands of members of the Marks and Spencer and Diageo pension schemes have been warned their personal data was likely to have been stolen by hackers during a cyber attack at Capita, the outsourcer. The M&S and Diageo pension funds were among hundreds of private-sector retirement schemes which used Capita to support their pension administration services.

.

.

On Thursday, the M&S pension scheme said the cyber attack at Capita in March may have affected the security of personal data for a “large proportion” of scheme members including the “majority” of pensioners who had worked at the retailer. It added that “if personal data is accessed it could be used for fraud, identity theft or to send malicious emails.” “Capita cannot be certain that this data has been accessed

.

.

According to its 2021 accounts, the M&S pension scheme had 106,000

.

.

Diageo said some of its 32,000 pension members were affected by the incident. It said it was still working with Capita to establish the full impact of the hack. Some Diageo pension scheme members are now being offered by Capita complimentary membership to a service that helps detect possible misuse of personal data.

.

.

USS is a Capita client which last week announced that 470,000 members’ details were at risk. “We will be writing to [the members] as soon as possible setting out how [the identity protection service] will work,” USS said in a statement. USS declined to comment on how the ID theft protection service would be funded

.

.

Aaron Le Marquer, head of policyholder disputes department at UK law firm Stewarts, said it was highly likely that other affected pension plans or other financial institutions whose customer data was at risk of being compromised by the Capita breach would be offering similar protection to their members or customers. They would probably “seek to recover such costs from Capita, leading to the question of whether Capita is covered for such third-party liabilities under the terms of its cyber insurance,” he warned.

https://www.ft.com/content/ff150b65-8dc6-48c8-b2e4-6b8fbee4ea03?accessToken=zwAF_Ag9dVWYkdP_FQtljcZIyNOy5GuPvuTqAw.MEQCIHjCl9UqrxBlHVI8btnNq94T-X5UYPRA-DehE3dUOPj3AiBbZVn6lMO_4rQl8L1bxgS0q5D3c-QxahYLLwt7RVLjRA&sharetype=gift&token=15ec8fac-a154-4aca-b173-1fc3cdba748e

For the first time in a while Henry Hub over 2.5 (just), if this continues surly the share price mist rise.

It may well be held back by ESG obsessed funds selling out, if so it will probably be their loss, happy to wait and take the dividends while these ESG obsessed funds loss money. Now days I tend to invest in O&G and mining multi nationals so they cannot get caught by one country like the UK increasing taxes and can move around easily and have a decent inflation hedging. DEC is the exception by happy the US even under Biden is a much more friendly place for O&G than the UK and the rest of western europe.

Buzzthomas

This is some FCA jobsworth issue, you have to accept the Key Information Document KID (KID) and Halifax, IWEB etc (Lloyds services) are hot on this although not required elsewhere e.g Primary Bid.

For me it adds small extra costs for all REITS I want to transfer from ordinary share account to my ISA. IWEB can do this as single transaction (1 fee) to sell in ordinary share account and buy in my ISA over the phone, however as you have accept the KID (tick box) it can't be done over the phone 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 stop me from buying in placing as I do not know enough but will happy let me buy the same share for a higher price and charges on the market. All while there are unusual price movements on shares I own only to find out the reasons a few days later when the news is released and of course the FCA do nothing with this insider dealing. What would we do without them.

Here we go again

Capita Cyberattack Hits UK Pension Funds

https://www.securityweek.com/capita-cyberattack-hits-uk-pension-funds/#:~:text=Capita%20has%20confirmed%20the%20theft,a%20significant%20amount%20of%20data.

British newspaper The Telegraph has learned from sources that as many as 350 pension funds and millions of their members could be impacted by the Capita breach.

Capita has confirmed the theft of customer and other data from its systems. In its latest update on the cybersecurity incident, the company said data was stolen from less than 0.1% of its servers. However, experts believe that can still be a significant amount of data.

Capita hit by new data breach incident

https://www.ft.com/content/39b71f11-6628-476f-9876-59697be25fb9

For some reason when I posted it changed c**k up to **** making it look worse than what I posted and all capital letter to lower case.

trustfund

what i want to understand is whether capita is profitable enough to deal with inevitable crises. if not, it is going to bleed to death as self-reinforcing crises take management time and funds away from investment and generation of free cash flow.

that is the $64,000 question (as it used to be called) but in this case a lot more expensive. it will of course depend on the size of the breach and only the hackers and perhaps capita know this (if they don’t then potentially more incompetence). however capita will not give any information on this until it is forced out of them so leaving the markets to expect the worst. can see his leading to more selling of the family silver to cover the cost, so even less left for the shareholders. this story will overshadow any good capita do for a time, interesting to see how the bod will spin this one as nothing to do with them. perhaps they will tell us how hard they worked to contain the issue so deserve more cash for themselves.

down £150k

i have dreams of that, i am down a lot more from the peak and then add in the wasted money for the rights issue. this is nothing more than a money eating machine run for the good of the board at the expense of the shareholders. it is only still in existence because of the rights issue and sold so much of the business. 5 years of so called turn around has mostly just shrunk the business with no real tangible results.

chelmochaser

the press will get bored soon and move on

unfortunately the press never get bored with slamming capita partly because of it’s high profile and partly because the incompetent running of the company by the bod with one **** up after another so a very easy target.

i genuinely believe this will rally hard at some point

hopefully you are right but unfortunately i think that at best is put on hold for a time, perhaps just perhaps jl and the bod realise they have got to do something good or they may well be gone. however i think for jl this is his last real job so he is milking it for all it is worth knowing he is not really up for the challenge as can be seen from the appalling results and value destruction so far.

Upomega

I wonder what our politicians think about that

Well they don't, "think" that is except for a a short term boost in the polls.

Capitalizer

I agree with a lot of you points and thanks for putting these in a polite way.

What happened before the rights issue is not the fault of JL and the current BOD, however performance since then is fully their responsibility especially after they asked for and took the rights issue money on promises to turn the company around, since then all they have done is lost this money and more while helping themselves to great remuneration packages. I believe a lot of the rights issue cash was burnt in a technology transformation project which went wrong, perhaps some of the old shareholders can add some light on this one.

The frustrating thing is after the last after 5 years of excuses from the BOD it looks as though it could be turning around and they fall for this hack. It may or may not be because of bad security but this one hack seems to have lost a lot of data. How some offshore worker clicking on a link gave access to so much of Capita’s data (if this is what really happened) seems wrong to me, however with the current BOD we will never know the truth. When I worked in the area of security each user was in an allocated a class which restricted data to only what that user class needed. Either Capita left this wide open or this user has access to a large amount of the database or perhaps Capita never thought to restrict the data based on the user or the privilege assigned to programs running in the system which could turn out to the rouge.

The hack was bad enough but after the hack the BOB tried to play it down, nothing to see here and got caught with their pants down as the press seemed to know more about was going on than they did. They wilfully left the customers (or at least the little people whose data was stolen) and shareholders in the dark about the hack allowing the press a free rein to take the initiative, given the reputation of Capita what did they think would happen if they tried to play it down, another blunder by the BOD

Can nothing stop this share from falling, Henry Hub up over 4% so far today, FTSE up and still it falls, great dividends and soon ex-dividend. I have great hopes for my shareholding in this company (topped up a number of times) but at present feeling that no matter how much good news this company is unloved and wondering where is the bottom now 90p support point gone. Perhaps the WOK investments funds selling out.

The press seems to have it in for them.

I don’t think the press have it in for them, it is that Capita provided the press with a big target by not coming clean and they make money out of these stories (that’s their job) this is purely poor crisis management by the BOD.

What do people think? Is this a well managed company or have they just been selling off the family silver and are fundamentally not profitable enough to run the business.

Well as I have said a number of times this company is accident prone, the BOD over promises and under delivers, it is the same BOB and JL that raised far more in the rights issue than the company is worth after 5 years (not just the family silver sold off) of their so called recovery. The same BOB that stated in 2018 in the rights issues

Capita’s objective is to become a more focused and predictable, client-centric company, generating sustainable free cash flow of at least £200 million of sustainable annual, post-tax free cash flow in 2020

It is up to you to make up your own mind based. IMO my CPI shares will only be useful for capital losses and Capita is just a lift style choice for the BOB with lovely salaries and remuneration packages paid for by the shareholders with the only result is losing money, however I live in hope.

Now the rampers can have another attack on me but with a lot less ammunition after they said I was wrong when I stated there be is cost for the breach, it is now a fact! Only how much is up for discussion. Also I said there this likely to be issues with new contracts, was told I was wrong, seems that is coming true. Also been told I am shorting the shares (because I deal in facts not hope) and I am also someone else. Perhaps that can still stick to their line that history and past performance are unimportant. Let’s see what they can come up with this time, I am find these attacks quite amusing so bring it on.

For Shell, BP etc although the WFT is overall is bad news it does have its upside as they are only about 5% in the UK and reducing. Every time they post large profits (even if generated from commodities trading) there are calls for the WFT tax to be tightened, more O&G companies reduce UK holdings, more has to be imported and Shell, BP etc supply this paying taxes at a reduce rate elsewhere.

As for Labour and proper WFT, just pure politics with no regard for how much harm it does to the UK. As I said before 75% tax on profits now or reinvest the profits then 75% tax on profits latter, either way HMRC get the money.

It is a clear the UK is un-investable especially in O&G with crazy anti business policies from both main parties.

From another board

Merger, story of pig and chicken, one day chicken says to pig let's merge breakfasts are booming, we will make a fortune, I lay the eggs you supply the bacon. Great said the pig, then he thought, hang on Mr Chicken you lay eggs everyday, I get carved up. That's why I called it a merger, not a takeover said Mr chicken

Looks all too familiar

From another board

Merger, story of pig and chicken, one day chicken says to pig let's merge breakfasts are booming, we will make a fortune, I lay the eggs you supply the bacon. Great said the pig, then he thought, hang on Mr Chicken you lay eggs everyday, I get carved up. That's why I called it a merger, not a takeover said Mr chicken

Looks like a what is happening/going to happen here. Hope not.

Pension watchdog probes Capita data hack

https://www.thetimes.co.uk/article/pension-watchdog-probes-capita-data-hack-bz89rpzrn

Stuartrm

Sorry to hear that, the only small consolation is that CGT losses will become more useful with the current tax changes.

I am making a small profit as I picked these up from Primary Bid in the last placing with the intention of holding for long time as it looked like a winner.