Member Info for TerryM1

Answered my own question, now gone unconditional as I was expecting.

Not very happy but unikmind as a majority shareholder I guess this was never going to end well for the small guys.

FCA make me tick boxes, stop me buying shares in some placing as it seems I do not know enough where I can buy them in the market for more and can't even sell REIT shares in my IWEB account and rebuy back in my ISA in one transaction fee as not able to tick the KID box in this type of transaction. With all these restriction the FCA do nothing about this type of sharp practice, in effect blackmail, accept our offer or you will be stuck in a delisted company, you have to answer what is the point of the FCA except to tie you up in knots and prevent the small guy from having the same options as the large institutions.

DennisThePennis

I agree there is very little chance of WFT changes until Labour government when it will get worse.

Now really does not matter what our politicians want to do the country is being run from home by civil servants, the BBC Sky news and the Guardian, Labour have nothing to do, all being done for them. Disagree with their policies and they will get you out and now no chance of a push back against this as Rishi Sunak is their choice and of course no need for him to to voted in by anyone as democracy not relevant in today's Britain.

3 Reasons Why Oil & Gas Is Goldman Sachs’ Favorite Sector

https://oilprice.com/Energy/Crude-Oil/3-Reasons-Why-Oil-Gas-Is-Goldman-Sachs-Favorite-Sector.html

Despite the renewed selling in oil and gas, Goldman Sachs remains bullish on energy.

The energy sector is the cheapest of all 11 U.S. market sectors, with a current PE ratio of 6.7.

Energy companies continue to report robust earnings as oil continues to trade around $80 per barrel.

Well what a surprise raise taxes to punitive levels and the tax take falls who would have predicted this, well everyone who has any financial sense, looks at history and who has discovered the laffer curve.

These figures do not take account of other lost taxes, all those made redundant by Harbour and others , corp tax etc.
Still our 3 main parties plus some others keep pursuing the policies of madness, i.e. do the same thing again and again and expecting different results. In fact Labour and the Liberals want to increase it, beyond madness.

In the same area a friend of mine running a large local fruit and veg business who meets a lot of people (due to the business) tells me that a number of his good customers are planning to leave the UK as I am. This will not end well except perhaps for those that get out of the UK, very sad, still easy to replace them with ones coming across on the boats every day, let’s see how that works, should have bought a hotel instead of O&G shares.

Unikmind acquires another 12 million Kape shares

https://www.sharecast.com/news/aim-bulletin/unikmind-acquires-another-12-million-kape-shares--13147474.html

Looks like those shares being sold before the end of the offer are being bought by Unikmind

Does anyone know if this means the offer will become unconditional and shareholders will get the £2.90 or could be stuck with these shares.

It is now making only having 2 bad choices.

GoCpi

No sure that a good track record is a backward facing metric, works for me.

My investment strategy changes with the times, with the vast money printing during Covid and huge debts accumulated by western governments by the middle of 2020 I decided to concentrate on multinational miners (mostly Glencore) and multinational Oil and Gas companies. My choice was based on history as every time a lot of money is printed we get high inflation and vast increases in government debt leads to high taxation.

I chose these companies as they have stuff in the ground which has historically good inflation linking and multinational as I predicted western countries would increase taxes as much as possible again from history, but companies like Glencore are either out of their reach or can move the profits to other jurisdictions, working quite well at present. Next step is to further reduce companies mostly operating in the UK due to the track record of this government on tax and regulation and especially the history of Labour which is very likely to be in government soon. Of course you will disagree as past performance and history is not relevant and does not give indications on future policies of this or labour governments.

Final move is to leave the UK for a more friendly tax area with better health care and weather, going to off to look at possibilities next week. Unfortunately have to hang around for a time as I have a large development project on my small farm being planned at present, decided to buy a house with land in a good area a long time ago as this has always been good historically, again I guess not something you would do as the past and track record not relevant. Also built up a large pension as historically these have done well which is one of the main reasons for leaving the UK to a country does not tax income from pensions.

Good luck CPI, if it recovers I will be happy as I am still holding them but I regard them as a gamble more than an investment, I think I will stick to my strategy as outlined above until better options come along.

GoCpi

"I don't really care about what they did back in 2017/18 during the rights issue."

Perhaps you should because it shows this BOD track record and how it treats shareholders, would you invest with a fund manager with a bad record paying themselves high salaries with a history of lying or incompetence because it is not important what happened in the past. It always helps to look at past performance to access how the team/individual will perform in the future.

eatstocks

You still do not understand the company got £681m cash in the RI and is worth £570m now after 5 years of so called turn around. This is not nonsensical but fact, take a bit of time to read up on the rights issue and you will not be posting such nonsense.

OK I have check my records and I got Capita on a placing in 1991 (I thought it was about 1989 but out by 2 years, I just know it was not long after the 1988 crash) when I was a client of Laing and Cruickshank, there were various script issues after that.

It reached a high of just over £13 (pre rights price) around July 2015, downhill ever since, was about the £1.00 (pre rights price) at the time of the rights issue and in 2021 they reached highs of around 50p not the over £5 you stated, more nonsense. Although my dates may be out by a small amount I have been on every step of this journey since it listed.

Well if they got to £5 in 5 to 10 years as you think they might great, however I very much doubt that, I would be happy breaking even.

You say

“There are a lot more stakeholders in the decision making of a company that just pleasing shareholders.”

But this should not give the right to the BOD to knowing take £681m in cash from shareholders and waste it; if you think this if fine then I think you are talking nonsense. As I keep saying if this was due to the state of the company and they knew this they lied to shareholders in the offer document, if they did not know the state of the company they had not done the correct due diligence. Either way they should not have asked for this money in the RI.

eatstocks

You do not understand the company got £681 from the RI, nothing to do with market cap 5 years ago but all to do with market cap now.

My point is this BOB have turned £681m cash in 2018 into £570m market cap now (and does not include the existing equity), what have the BOD done except lose money and take nice remuneration packages. The RI may have been a brilliant move for the BOD but they had no right to ask for this sort of money if they were not sure it could be turned around, so they lied or had no idea of what they were doing, can't be anything else. If they had folded CPI at the time, (may be got some money from sales for shareholders) and placed £681m on deposit those shareholders would all be far better off now. I call this a lifestyle choice for the BOD, they are the only ones making money while the shareholders lose virtually everything.

There was Covid in Mar 2020 but there was no turn around before Covid. Given all the money the government were throwing around at the time with all the Covid schemes with no one to administer them if CPI were on the ball they should have made lots of money, instead they kept on losing it.

Just for the record I got this company on the placing in the late 1980s, topped up in an ISA with from profits from ARM takeover when CPI shares went down from £12.00 to £7.00 as CPI said it was a temporary setback and for that BOD the rest is history.

When the RI came along if I did not take it up I faced a large CGT bill, sold off as many as I could without CGT and stumped up a large sum for the rest of the rights. This was with this current BOD, been downhill ever since with the odd pickup, went from the best share I had to by far the worst with no real sign of a proper turn around. I have mostly given up on it now because of its abysmal performance way down in value terms in my portfolio.

I did get suspicious when Paul Pindar resigned but decided to give CPI the benefit of the doubt, what a mistake, the biggest financial mistake in my life, should have sold up and paid vast amounts of CGT but hindsight is a wonderful thing. I can only be thankful most of my other shares done well with no disasters even close to this mess.

eatstocks

Thank you for that wonderful piece of information about RNS, never thought of that, only been investing for 40 years never thought to look at RNSs

“This BoD was brought in to turn around a company”

Yes very true but not take £681m from the rights issue and in 5 years the market cap is £570m with no dividends, losing more than rights issue money along with the assets the BOD have sold does not seem to me to be a good result. Looks like a lifestyle choice for the BOD, are they not meant to make money for the shareholders, not loss the lot and more. Either JL lied about the state if the company at the rights issue or had no clue, can’t be any other way. Can’t see how you can call this a turn around, it is just a money eating machine. This was all meant to finished (turned around) in 2020 from the rights issue

“The Rights Issue will enable Capita to execute its new strategy and deliver its stated targets, including the cost reduction programme and the investment programme which is expected to, inter alia, result in the generation of at least £200 million of sustainable annual, post-tax free cash flow in 2020”

“What facts do you talk about? Every single post you type is complete trashing and hyperbole and exaggerations on the situation.”

See above, figures, fatc and quote are correct, check out the rights issue.

"Clearly you seem to think no company ever gets hacked”

It was bad enough for a company to get hacked (how many are hacked this bad out of the many thousands of companies in the UK) but trying to play this down with statements like we don’t think any data has been stolen, etc leaving the MSM a great chance to trash the company.

“Call it conspiracy theory you write exactly like Bertles”

What a load of rubbish, show me the facts, just you making it up as you go along.

“So I am sorry if it upsets you, but I am not trashing you, I am expressing my opinion and tough stuff, but that's life buddy.“

Really looks like trashing to me, prove it is by answering my points above, especially the rights issue. No need to be sorry, I am not upset with you but I am with the BOD, as I stated I find this quite amusing which is more that I can say for the losses I incurred in this company. Even if I am trashing CPI, don’t I have the right given all the excuses they have come out with since the RI and given the amount of money they lost, perhaps one day they will properly turn this around and will stop trashing my finances. Until then the only use of this company is capital losses to set off against gains which is quite useful with the tax changes made by this government.

eatstocks

You have a great talent for conspiracy theories (alone with someone else I could mention) and you trash anyone who dares to speak the truth, you don't like my post then tell me where it is wrong but hey that requires coming up with some alternative facts, much easier to make up stories about the poster.

I am not happy with this shower, just as it looked as though it might start to turn around this mess happens, followed by playing it down leaving an open goal for the MSM who love trashing Capita so making the situation worse.

I have been a shareholder for a very long time so 23p, 50p what's the difference, it was £13 before and 70p to take up the rights 5 years ago, this BOD need to be held accountable for their terrible performance since the rights issue losing more money for shareholders than raised in the issue. All while taking very nice remuneration packages, if the BOB had any morals they would take a cut in pay to compensation for all the shareholders money they have wasted.

You seem to blame any poster that criticises CPI even when just stating facts for the abysmal share price performance, it is the BOD that are responsible I suggest you take it out on them.

Another idea is why not start you own board where only people parsing CPI can post, will make you very happy but will make not a bit of difference to the SP. However it helps you carry on attacking me, I don’t care; in fact I find it quite amusing.

eviking

Any dividend would be nice, in fact the a definite promise of a dividend would be good news instead of a set of excuses why the turnaround will take longer, JL said 2020 when he wanted investors to stump up for the RI, since the RI it has just lost more money (all RI cash disappeared, £681m), sold off the family silver and looks like a lifestyle choice for the BOD. The market cap is still below the amount raised in the RI even without factoring in inflation, as I said before either JL lied about the state of the company at the RI or he had no idea, not good look, if CPI was folded/sold off the SH may have got something instead they were mislead and throwing good money after bad.

Perhaps, just perhaps will we see a dividend in the not too long and distant future unless this latest debacle has push that back again, if so this is down to CPI, not Breit, Covid, Ukraine, weather etc.

Also the lack of transparency with this hack does leave me feeling that the BOD are afraid to tell us what is happening and prefer to say as little as possible and hope nobody finds out, unfortunately does not work especially for a company with a reputation like Capita's. However this has been the case since this whole sorry mess started around 5 years ago.

It looks as though Henry Hub prices are starting to rise, gone from a few dips below just below 2 to 2.4 now, although DEC is hedged for a quite a time this must affect the price of future hedges in DECs favour. Does anyone know if DEC is still hedging at these prices, I assume it needs to as part of the loan agreements. If this rise continues the share price must surely rise.

Hopefully this will help to break the £5 resistance point.

"Based on the first-quarter performance, trading profits this year will again beat its guidance range of $2.2 billion to $3.2 billion, Glencore said Friday. The company has exceeded its range for the last three straight years."

https://finance.yahoo.com/news/glencore-expects-another-bumper-commodity-060304845.html

Looks like CPI are still hold back

The Telegraph

BBC licence fee outsourcer refuses to say what data stolen in Russia-linked hack

https://finance.yahoo.com/news/bbc-licence-fee-outsourcer-refuses-090957322.html

When they get ahead of the game instead of hearing it from the MSM.

Well after all this time they have come clean, not a good look for a company offering cyber security solutions to be hacked and take this long to fess up. Also why so long, initial unauthorised access on or around 22 March to be interrupted by Capita on 31 March? Going almost a month now before the full picture is know.

Markets do not like uncertainty, better to get the information out than to try to downplay it and now the full picture is out the shares rise in a falling market, should not have done this sooner and then just perhaps the SP would not have dropped so much.

Hopefully put and end to The Times and other MSM over reacting.

Well now sitting on a 95% lose from the 6p placing price from 2 years ago, the only thing I know that is certain is they are not getting any more money out of me. I have kept the BOD in the lifestyle they have become accustomed to for far too long.

It was not long ago the BOD were coming up with decarbonisation plans which take 5 year plus to show any income, they should have been looking 5 weeks in advance on were they were going to get the money just to survive.

The one thing this country does not need is more tax, WFT or others, unfortunately it is what UK governments do, find an sector that they can squeeze a bit more tax out of and then keep going until they crash the sector.

This is not the first time it has happened to O&G, then look at Pubs, Buy to Rent, Freelancers etc.

In the Freelancers case of IR35, one of the first things Rishi Sunak as PM was get rid of Liz Trust reforms relaxing IR35 and put it back to where it was after he tightened it. What's not to love get rid of these pesky bunch and lot more money for the family business Infosys. Add this to the grants he gave to foreign workers where there is a skills shortage when he first came into office as chancellor another win win for Indian software and the family business, a clear conflict of interest but being a good globalist you can get away with these things (look at the Bidens). He should be careful wanting to improve maths skills, perhaps sooner or later people might use these skills to see how much the government is taking from them.

Does not look good

https://www.theregister.com/2023/04/18/capita_breach_gets_worse/

The BOD should stop playing catch up and get ahead on the news otherwise it will be far worse, accusations of cover up etc.

Dickupham you are so right

This WFT is just a political move it was a response to Labours lobbying so the Conservatives had the heat taken off them on this issue. This Conservative government always do what Labour wants.

As part of Lizz Trust plans the WFT tax would not have been increased but as she went against the establishment on this and other issues like lower taxes so she had to be replaced by an unelected leader (can’t take the chance on not getting the establishment choice, democracy unimportant) that is running a policy akin to New Labour on steroids, tax, spend, open borders, ESG, control and regulate.

When the policies fail the establishment create a monster to blame which the government can then slay no matter how much harm this does. Before this it was the buy to let landlords, look how well that is going. However this monster can up and leave, they did not think of that.

As a result of a set of failed policies we have zero growth, the most sticky inflation in the western world and lots of strikes. Still it could be worse and will be under Labour.