Member Info for TerryM1

TerryMC1, Total agree, I am also a Kistos shareholder and very happy at this deal. On the KIstos chat board this deal has already been compared to the SQZ deal

“With this acquisition, we only assume the debt and issue some warrants at a very high price, no stocks like in the suboptimal Serica proposition”

It is done at $4.63/2P boe, remind me what did SQZ pay

Andrew Austin stated

"Kistos has evaluated several transactions in the UK and Dutch sectors, but the imposition of punitive windfall taxes and a lack of fiscal certainty have meant that both countries remain difficult places to commit capital and ensure continuity of shareholder returns".

I know it is history and we need to move on but can help but think we could have been part of this and where we would have been if the Kistos deal went ahead,

KIST shares up 12% on this deal in a falling market and SQZ share plummeted on it’s deal. AA is happy to leave KIST as a possible target for takeover as he did with Rockrose, if taken over at a decent premium he will move onto bigger and better things. Contrast this to the geriatric approach of the SQZ BOD which have even more to answers to after this deal, AA has shareholders interest at heart as he knows he will get support with future ventures whether if is KIstos or something else, he is not scared of a takeover, where SQZ BOD are very scared as it will leave them out of a job, they only care about themselves, staying as long as they can as they know they have no future elsewhere.

This company is accident prone and could not have picked a worse time to lose the data (allegedly) just before an almost inevitable re-entry into the FTSE 250, unfortunately not so evitable now. Well done CPI you are keeping up your position as by far my worst performing stock and a money pit made worse by the rights issues, as a reminder JL raised more money in this issue than the company is now worth and said it would be turned around by 2020.

I had a strong suspicion CPI were not telling the truth as can be seen from my previous posts.

I don’t think the Times has got it in for CPI it is just a good story to sell news papers, it is their job and is what they do, you can also add in The Telegraph.

https://finance.yahoo.com/news/fears-data-stolen-bbc-licence-190908852.html

You cannot blame them if CPI is being economical with the information and the truth; it is CPI which have left the goal undefended and as this company holds a lot of government data these newspapers will say they are doing a public service, not sure I agree but can see their point. If CPI carry on like this we will soon have accusations of a cover up to add to an already bad situation and call for the government to act, we really do not need this turning into a political football.

CPI really need to get on top of this and out of date PR RNS is not a good look and postponing to May the Yellowstone webinar does not help, it looks as though the BOD have gone to ground. They should take control of the situation and face the shareholders, come clean on what has happened not wait for the drip drip information to come out as the MSM which will always make it look worse than it is.

Now the rampers can have another go at me to vent their anger about the falling share price, I would suggest you turn this on to the BOD where it may do some good. Nothing said on here will affect the SP so ridiculous saying I have shorted CPI, if only.

Looks like we found the hidden treasure that has been talked about, it is in the Hedges, in Mercuria safe and will keep growing at current prices while a pile of s*** has been left for SQZ. IMO some sort of fraud/sharp practice to hedge at ridiculously low prices with the company that owns you and then knowingly sell the mess on.

How many way can Mercuria find to do up the shareholders of SQZ, why did anyone vote for this, I really hope those instructions who did are held to account by their investors as well as the BOD, fat chance.

This is wrong on so many levels.

lika CEO upbeat on potential uses for Stereax cells after Blink Energy shipping

https://newsdirect.com/news/ilika-ceo-upbeat-on-potential-uses-for-stereax-cells-after-blink-energy-shipping-368327209

upomega

It would be amazing if the BOD blamed EPL for poor performance as they were the ones who wilfully took us into more EPL taxes knowing full well about the EPL instead of doing the sensible thing of investing outside the UK or distributing some or all of the cash to people who it belongs, the shareholders.

jzachat

I agree, the Carbon Credit may be a good scheme but have WBI got the cash to fund it given it will take 5 years to see any return let alone profit. No doubt good for a cash rich company or perhaps one that can borrow cheaply but not for one where there are no signs of profit so where do they plan to get the cash, an important detail conveniently forgotten. The BOD should earn their money and get this company profitable not come up with jam tomorrow schemes with only verbal agreement and no financing to keep the news away from the losses, no coincidence it came on the day of poor figures but good excuses.

Let's hope that CPI is telling the truth in that there was no data breach (or at least they did not think there was) however there is some evidence as been reported that black basta have some of CPI's data. If so this could become costly on top of the current costs for thy is attack. I for one would like to see more transparency from CPI, don't leave to the press who hate CPI to be in front with the news, better to get out first.

My Fantasy short reported by GoCPI is doing well however my actal long position is not.

For all the figures and statements the question is when will this company make money, we were given hope during Covid lockdown that it would be soon given the price of timber and just being held back because lack of shipping, also new venier plants coming online to boost profitability but for all the great words still no sign of profit or even break even.

The carbon credits is good news but at least another 5 years of expenses before any income can be achieved from this so how many more share diluting issues between now and then. One thing we know is the BOD seem fine while taking their remuneration packages.

I live in hope but not too much to avoid disappointment.

"They are returning that capital to shareholders through buybacks and divis."

See this with so many companies and share price not changed much at all. Sure dividends return money to shareholders but have not seen any cash in my account from the Buybacks so not returned to me, it is just an exercise in shrinking the balance sheet and number of shares.

In certain circumstances where the share price is very depressed or for a REIT where the shareprice is a lot below NAV there is a case.

It is a bad statement where a company that specialises investing other people's cash cannot make better use of their own cash.

Sorry should have said

However even with dividends these have been performing badly for a time, at least 6 years.

There have been 2 lots of capital repayments the last one in 2018 for the sale to Phoenix Life and one a lot earlier, you will need to take this into account with the share price, also high level of dividends.

However even with dividends these have not be performing badly for a time, at least 6 years.

Batterymetals

I am not sure Rishi Sunak really cars about winning the next election otherwise he would not have stagnated the economy with putative taxes and globalist green policies, his aim is to keep things in check until the next election making a lot of new globalists friends. After losing the election he will go for the jobs in WEF, WTO etc and directorships at Goldman Sachs etc.

NormaStits
Please don’t zip it, always good to hear an alternative view especially from yourself.

DennisThePennis

The Kistos deal as you say is history but not the way the BOD handled it as the BOD are still with us and shows their incompetence and ulterior motives, they are the main reason the for the current abysmal share price performance.

NormaStits
I appreciate your opinions and you politeness in the face of a lot of opposition but I don’t get it for the reasons laid out by dickupham.

Also add in the appalling way the BOD have handled this, dismissing out of hand a far better offer from Kistos while actively pursuing this share price destroying deal.

To add to dickupham points, the BOD have proved they are are self serving and incompetent. Who can trust them not to make more of these terrible deals, we can only hope we do not end up with more of Mercuria’s overpriced assets and debt for SQZ cash. Also the lies about returning cash to shareholders are not helping.

Given the lack of trust in the board and a controlling shareholder it is not surprising the market has marked down, it is not what assets this company has it is the fact they are controlled by a useless BOD and a predatory controlling investor, the only thing that will help us is some decent dividends, after all that is all that is left as a decent takeover (or just the threat of one to raise the share price) along with the chance to deploy the cash given away outside of the UK tax grab is now a pipe dream.

I think the instructional investors who voted for this deal should be held to account by their own shareholder but as always this elite group of people get away scot free as they close ranks and protect themselves.

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https://finance.yahoo.com/news/diversified-energy-recently-purchased-tanos-120000307.html

Peterrr

Good point, I suspect this will be used as another excuse for government departments to miss their timescale and can then put the blame on CPI, hope it will not hit the MSN.

As I have already stated for Phoenix, for financial institutions it can cause delays to processing customer request, EOY etc which can lead to costly customer complaints and admin costs.

CPI will pay for this one way or another, either with direct payments or when contracts come up for renewal, at the very least it give its customers a bargaining chip on the contract price.

Hi GMAN12

Appreciate your polite, calm and balanced view on this. The point I am trying to make is this is not an incident without consequences which some other would have you believe, as CPI is still a significant holding for me I would very much like this company to succeed and grow.

For me one of the worst parts was this PR RNS made 3 days after the incident, IMO they should have been quicker of the mark and stated something like

A cyber attack was made, no data was compromised but lead to a significant outage which we are very sorry. We take this very seriously and worked as hard as possible to minimise the outage. In the light of this incident we will review our security and disaster recovery procedures and steps will be taken to ensure everything is done to reduce the likelihood of these incidents occurring and in the unlikely event of another incident a fast resolution so normal service can be resumed as quick as possible.

GMAN12

There will be compensation to be paid to customers of Phoenix or at least a cost to Phoenix, any Phoenix customer who complains will probably be given something for the inconvenience. Otherwise if Phoenix don’t pay up the complaints can be taken to the FOS where Phoenix will be charged £750 per complaint win or lose, plus of all of the admin costs for Phoenix. Add in the reputational damage to Phoenix.

Is CPI is liable, either way the question to be asked is Phoenix going to be more or less likely to renew the contract and at what price especially as it has cost Phoenix money and reputation, how does it look for other new business with Phoenix. No company likes becoming headline news for bad service especially one like Phoenix with its many private pensions who can easily switch.

This is just one of the many companies and government departments affected by this incident who may be able to get compensation from CPI, then added in the cost to CPI, lost days work for its staff and additional hours for IT staff, one way or the other this will not come cheap.

There may be a bigger plan in place.

Glen have said if they merge with Teck they will split into 2 companies, Coal and metals (not sure OIl etc go), this overcomes the Coal obstacle for Tesla and then can now invest in GLEN as been mentioned before.

Article from The Times

https://www.thetimes.co.uk/article/phoenix-life-savers-locked-out-after-capita-cyberattack-lbcb09lcd

Unfortunately there will be compensation to be paid, hope this does amount to too much or put it's contract with Phoenix st risk.