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Nice to see management making a stand against the strikers .... There isn't any profit in Capita at the moment and there will be even less profit from the NI changes come into affect after the Rachel from Complaints budget.

All this bodes well for shareholders in the future!

TBH - dividend isn't my first priority here as with FCF and a growing revenue and proof the turn around is complete ... We are going to get EXPLOSIVE capital growth ....

And of course Capital growth is taxed at a much lower rate for higher rate tax payers ....

@HHH81 - I agree selling at 50p here is way way way too early and the money (ie Schroders and other IIs) are going to be looking for a £1 or more here ...

Also ... Remember that Adolfo's stock options were created at just under 20p - so I can't think he'd be happy with much less than 60p or 80p here given the amount of effort it would have taken him to turn this, previously, sinking ship around!

@JO & @Trisor - I agree it's important that I retain my great relationship with Helen - she even replied to one of my emails out of hours when I queried why Sameer's son was buying shares in Capita and why this would be RNSable.

I simply thanked her for her email this morning and said it was great news that the Gas Safe Contract had been retained ....

With 1.35million shares I'm keen to maintain relations .... As I'm even a friend of Adolfo's on LinkedIn now ... Not that I like to name drop 😁

@Trisor - I agree it's not a full response and interesting she didn't reply (for whatever reason) on what threshold of contract win /!renewal demands an RNS?

Perhaps there isn't a minimum threshold and they simply announce stuff when they feel like it!

That how it feels anyway ....

IR (Helen Parris) did reply to my email (asking about contract wins that I sent yesterday) - she replied this morning and basically said "I expect you've seen the RNS relating to the Gas Safe Renewal'.

I wrote back and told her that was great news!

@daltry - I thought something must be in the pipeline (pardon the pun) as I didn't get an immediate response from IR yesterday.

So @Adam was right in his assertion earlier this month, that Gas Safety had renewed so that proves what a useful resource he is to this board .....

Lots more wins please then we can all be millionaires like Rodney and Adolfo ....

@Trisor - I've just written to Helen in IR to ask her 'whats occurin' and whether shareholders should be concerned by what looks like lack of sales successes? I've also asked her what the minimal level of success would be to demand an RNS

I'll post her reply in full here once I get it

@daltry - it can be scary playing at £13,500 per 1p movement but I've averaged down from 30p and have managed to get 832k shares inside an ISA (away from the hands of Rachel from Complaints).

I intend to bed and ISA again in April and will be happy with a million shares in the ISA and - over time - will sell the rest.

If the ISA investment / gamble pays off here then it will be a perfect way of creating a tax free / income bearing nest egg for the future as, when we get some decent growth here, I eventually propose to switch into income bearing stocks with tax free dividends - stocks like BP and BT and L&G and Barclays etc ...

Of course the strategy goes completely pear shaped if CPI goes bust as the ISA loss won't even be tax deductible - but I think, on balance, that is unlikely although - of course - never impossible.

Management team here is first class and they didn't leave good jobs at Amazon to fail here .... So I feel quietly confident ....

@Simples - I'm hoping we are on track too and I agree there are lots of bad actors on here and I certainly don't want to feed them!

I think we must be in a closed period because the AH shares haven't been vested yet and we would definitely have had an RNS if that was to happen ...

I'm standing strong and have no intention of selling here besides selling 1.35 million shares below there break even price would be immensely costly and painful 😕

Things look go be stabilising here but it is a concern that we still DON'T have any new contracts to announce!

AH gave a very unconvincing reply (at Yellowstone) when asked whether he would be making any new sales win announcements during Q4 - he first looked perplexed then slightly panicked then he finally replied of course (check the video and look at the reply in the Q & A section).

Since Yellowstone - 23/09/24 - we've had zero new win announcements and we've seen the sales pipeline drop from £5.7bn (at Yellowstone) down to £5bn (at TU).

It is worrying that over a 4 month period we have managed to announce nothing new .... ans, therefore, nothing sizeable.

As you know - I'm massively long here but I would have thought we would have won something worth RNSing in 4 months of sales and marketing effort.

I know Sameer only joined in December 2024 to start the productisation process (and it's going to take time for his work to be pulled through into sales wins) and the Wrexham Council win (although small) was a demonstration of what's possible.

I just can't help be deafened by the silence here and that makes me twitch a little!

I thought it had been announced that the future contract for NI had been cancelled (with Fujitsu) and Capita would be running it for the time being ...

That implies the bus process will be restarted and - hopefully - we can win it this time and at a decent margin!

... Other than a wide spread and painfully low volume?

Why would all A trades suddenly become disabled?

I'm hoping it's a good sign although it's not going to create anywhere near enough volume here to significantly shift the SP is it?

It might be small beans BUT it's a win that a) uses a cloud based solution and b) appears to be a PRODUCT aimed at housing management.

This PRODUCT can be sold over and over again to council after council after council ....

Multiply the small beans contract win at Wrexham by 50 or 100 and you get very BIG beans .

The futures bright .... The futures Capita!

@voli - I'm hopeful the additional £90m savings will be created by a product led (cookie cutter) approach to outsourcing - that is specifically what Sameer has been tasked with sorting out asap (and hence why he was recruited from Amazon at the end of 2024).

If Capita can productise the outsourcing offering then their cost savings and profits will be massive ....

Of course trimming all those layers of middle managers who deliver nothing will also be helpful ..... but don't underestimate the productisation strategy as that's how the likes of Microsoft and Google and Amazon make enormous profit every year

I'm almost certain that Capita is now being run by a very safe pair of hands

@Daltry - I think the assumption here is that we are in some form of closed period not least because the 2.5 million shares that were vested on 15/01 to compensate AH have not been RNSed either.

Whether the closed period is because it's so close to the March results or whether it's self enforced because they are working on something has raised some speculation on here (not least by me).

I think selling out at 18p here would be a huge mistake as, historically, 40p was seen as a fabulous entry point for CPI, it was trading between 35p and 50p over COVID (and was in a worse state than it currently is) and the new management team (unlike the last one) look world class.

None of the large IIs have sold and are therefore standing firm and I think you should do the same .....

There is a lot of restructuring going on under the covers here and also a new AI led product strategy so it's probably good that we aren't getting a running commentary ...

I do agree though that a few RNS statements regarding contract wins or new IIs wouldn't go amiss right now!

In the meanwhile the CPI SP becomes a bit of a MM plaything as it's manipulated up and down at their pleasure.

@JO - I agree that a premium of about 50% is what is likely to be offered in any takeover first attempt and that means 21p right now (which I think we all agree is too low).

We need to get to about 20p (under our own steam) and then a 30p buyout would probably look more acceptable to PIs / LTHs but I'm not sure the likes of Schroder would be happy with that. Hence why I suggested an MBO where Schroders roll their stake across in the buyout

Another thing to factor in is that AHs share entitlement was calculated, from memory, at a price of about 19.5p per share (so if we get bought out for less than 19.5p then he would have been better off staying at Amazon).

I think if we get bought out at anything less than 30p then the LTHs who have experienced a pretty rollercoaster ride here since COVID will have been robbed .....

However ... The longer we languish at these low levels ... And the nearer the turn around plan gets to fruition ... The more vulnerable we all become.

This needs to get above 20p again asap so that LTHs (and AH) benefit from any takeover premium. Getting just our money back after all we've put up with .... Is not an option from my perspective.

@JO - any thoughts on why AHs shares that were due to vest on 15th January haven't been RNSed yet? Should we read anything into this (together with the absence of any board members adding more shares as they plummeted to almost all time lows)?

@Trisor - don't let me scare you (I'm probably talking out my backside) ....you should do what is right for you .... And totally ignore me ....

We've been waiting / hoping / praying for a takeover here for years and it never comes along so probability is it won't happen now either 😁

@Trisor - averaging down would seem to make sense at 14p as the share is ridiculously low .... But then I thought that when I averaged down at 28p .... All the way down to 13p .... It certainly lowered my average but also left me holding 1.35million of these ...

You need to remind yourself that 23p has been, historically, a very good average and there are going to be thousands and thousands of investors with a worse average than you ...

It's easy to be blindsided by the gamblers on this board who will buy and sell Capita shares for 0.25p profit and boast about their 13p averages etc ....

These gamblers will be sold out by the time the share hits 14p .... Banking their few hundred pounds profit .... Whereas the IIs and LTHs will still be holding as the price pushes ever upwards.

I would say average down by all means but don't overexpose yourself as 23p is NOT a bad average!