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Great news Adam ....

Thanks for the heads up! I'd buy more shares if I didn't have too many already 😁

@Aim

JPM upgraded Ocado to Outperform and increase the target price by 15%+ and the share price surged ....

RBC do the same here and we still can't hold 14p with zero surge ...

I'm just wondering whether - with the tax year end approaching that IIs (and PIs for that matter) are selling into any rally to crystallise losses with a view to buying back either at the start of the new tax year OR after consolidation.

Someone here suggested the SP will probably fall after we consolidate on 29/04 and there does seem to be some mileage in that theory ...

If correct then sell last / next week, book the loss, buy back shortly after consolidation (having waited the mandatory 30 days).

That could explain what's happening here!

@jg68

Well we got the close over 14p at long last and let's hope we can build from there now that Schroder have bought back what they sold a few months ago ...

Are you still in the bus shares (MCG) - should I take a punt?

@TerryM

But surely if we are partnering with hyper scalers then we are, by default, off shoring AI into the hyper scalers global data centres.

The important thing here is that Capita are not building their own infrastructure anymore but are leveraging their hyper scale partners capabilities and using it's BPO experience to integrate this technology into customer service delivery .....

I don't think the cost of UK energy has any bearing on this .... ?

@TerrryM

I don't think you are correct - if Capita becomes a BPO system integrator on the AI space with a number of referanceable successful stories - I think that is very different to what the rivals are doing.

The products / solutions / service offerings being created and productised by Sameer (ex Amazon) is totally different from anything I've read from competitors.

Being a BPO system integrator that can introduce and integrate AI into customer service settings is a massive moat and is fundamental to what AH is trying to achieve imo.

AI solutions will not be won on price .... They will be won on the cost savings that the AI led BPO solutions will deliver to the customer.

@Adam

That's the problem! He's not a genuine investor! Never was and never will be .....

I've filtered him and I would recommend everyone does the same then we don't need to be bothered by his wild musings 😁

@Wednesday - consolidation will hopefully stabilise the SP and stop it being traded like an AIM share ....

Also a higher consolidated SP should catch the eye of those IIs that simply don't invest in penny stocks.

Cleaning up the balance sheet must be to make the business more attractive from a sales perspective.

I guess - as AH would say - a share consolidation does deliver "debt optionality" in that it would be fairly easy to place a few million more shares if they did need more money to keep the wheels on the bus turning but, as you say, that doesn't look likely right now.

I, personally, view all these changes as very positive (and a breath of fresh air from the old guard management).

I can't see AH and Pablo and Co wanting be locked into Capita for many years to come .... so would anticipate a sale by them within the next 2 to 3 years ...

So - do we think the reason the Board are cleaning up the balance sheet and consolidating the shares is:

a) They are readying the business for sale once FCF is achieved.

b) They want to raise more cash and a placement / RI is easier with so many fewer shares.

I know it's hard to see through the noise here ... my feeling is that they want to get the business ready for sale as, with minimal debt and free cash flow soon I can't see the need for raising more cash ....

What do others think?

Any long term holder selling before consolidation is foolhardy at best ..... as the cleaning up of the balance sheet and the consolidation of the shares is another clear indication that the Board are getting this in a "For Sale" ready state .....

I am going to bed and ISA to shield my investment from tax but I've no intention of reducing my holding until all this plays out ..... I've simply waited too long!

It's a 15/1 consolidation - so a 15p share now if £2.25 after consolidation on April 29th.

Not sure if all these changes will immediately benefit us or not ... But not long to wait to find out!

Good that RBC have finally turned positive on CPI and - as that news sinks in - hoping it's a turning point for us all!

@pb1001 - I fear your summary is very correct (which is why it's getting quite a few recommendations) and I've been looking at any way to also partially exit here ....

The important word being PARTIALLY....

And I've come to the conclusion that some more bed and ISA this next tax year will enable me to wash out some capital losses here without actually crystallising any loss...

I too though am concerned we can't even break and hold 14p but, excluding bed and ISA (where I would sell and buy back at any price), I can't bring myself to press the sell button at 13p or even 14p.

That's not to say i am going to buy anymore though until we get a clear direction and some momentum in the SP.

@Go

Yes - I totally agree that it's just time to be patient again ...

No expected news here now until the AGM which I assume will be held in May again at which point the share consolidation will be approved?

The odd contract win or two wouldn't go amiss but it's looking like a weight until August now .... unless the unexpected happens and some big news drops

Back to watching the paint dry on the wall I think!

@stas20

I'd be very surprised if RWC are selling out ... They've only sold about 1% and I would assume they are simply rebalancing their portfolio - which they tend to do from time to time ....

No one in their right mind would sell out completely at this lowly price!

It did a Freddy pretty much all day today in that it's been UNDER PRESSURE

@Simpliles - PCSE .....Primary Care Support England?

What's the value of that tender?

@JG68

The CEO may well be quids in here but he's well down on what he would have had of he had simply stayed at Amazon.

His stock options were calculated, from memory, at over 19p per share and these were to compensate him for the stock options program he was walking away from.

So - at the moment - you could argue the CEO is 25% down (like the rest of us except James Oxford and Aim Master 😁) ...

Also the CFO must be down as he bought a shed load of shares in the mid to late 16s last year and I doubt his recent purchase has got his average down below 14p either ...

So we are all pretty much in the same boat at the moment (except JO and Aim) .... but I still think a bit more patient will pay huge dividends ....

I held this share (in hope) for years under JL when, in fact, there was only Bob Hope (I know an old joke) .... but I do see hope here now ...

Btw ... I thought the @oldtrader summary yesterday on Capita strategy moving forward was very good and that gives me even more hope!

@simpiles

I'm definitely taking a loss this year in the bed and ISA process to being my Capita average down further and get some money back from Rachel Reeves.

I'm actually thinking of adding on Thursday 3rd and then selling a load on Friday 4th before adding what I can back to the ISA on Monday 7th April ...

I've got a large capital gain I need to offset and I think I can offset a fair bit of the gain during th bed and ISA process although it really depends how well (or badly) CPI performance heading into the end of the tax year.

I definitely agree we are being played .... So bring on consolidation please!

@JG68

It's like doing the lottery .....you never win ... So you stop playing for a few weeks .. and as soon as you stop playing .. all your numbers come up!

Warren's quote about the stock market being a place for the patient to take money from the impatient also springs to mind.

By any measure 14p is too low here .... This should be 17p plus whilst we wait for FCF based on what we know, what's in the bank, what revenue we are creating and what management are delivering from a cost cutting perspective.

So, for me, I'm sat being patient .... I still think we will see 15p plus before the week is out ... And I also think share consolidation is going to put a rocket up the share price.

After being patient for so long (and missing so many other opportunities) - I couldn't bear to watch this rocket with me on the sidelines .....

Can't be long to wait now as even the most patient (JG68 and me) are becoming impatient 😁

.... but the chart pattern looks to be heading towards forming a bullish W .... and if we can get past 15.4p then we should see 17p quite quickly again .....

@Sunlit - I think once some of that pipeline turns into sales then this will head upwards .... but we've had a £5bn pipeline since at least August 2024 and that hasn't materialised into large sales YET ....

I know @oldtrader has been tracking the SSE opportunity and, if we win it, it should show the new strategy is beginning to work ...

I appreciate we can't measure the new strategy on just one deal (win or lose) but SSE is exactly the sort of deal that Capita needs to be closing ....

Another hope here is that the Government finally starts implementing AI to improve efficiency (like they say they are going to do) and choose Capita to deliver some or all of that ....

It's about time this share / company got a bit of luck because every time it looks like it's moving forward....it gets another hurdle to jump (and the move is delayed)