Capita’s (CPI) performance in recent years has been blighted by one problem after another, with asset write-downs, restatements and – most recently – a rights issue and the suspension of the dividend. Understandably, management has tried to draw a line under all this, and has plumped for a grand gesture intended to instil confidence.
Coinciding with the release of the group’s most recent results, 14 of its senior staff bought shares to show us all that this time it’s different. Indeed, across the group’s board and executive committee, only three members did not purchase shares. One of these - finance director Nick Greatorex - was among those granted options as part of a long term incentive plan and has since purchased shares as part of the group’s share ownership plan.
The question now is whether management will be able to turn it all around. Losses increased more than fivefold at last count due to a slew of impairment charges. Net debt fell 37 per cent, but still sat at £1.2bn. In order to shore up finances, the group is carrying out a £701m rights issue, but investors are clearly nervous; as the UK government negotiates Brexit, more delays to public sector contracts are a distinct possibility.
Buys | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Capita | Lucy Neville-Rolfe | 23 Apr 18 | 5,537 | 180.59 | 9,999 | 5,537 | 0.001 |
Capita | Jonathan Lewis (ceo) | 23 Apr 18 | 138,500 | 179.15 | 248,123 | 138,869 | 0.021 |
Capita | Gillian Sheldon | 23 Apr 18 | 2,000 | 179.15 | 3,583 | 5,000 | 0.001 |
Capita | Ian Powell (ch) | 23 Apr 18 | 3,600 | 177.75 | 6,399 | 12,000 | 0.002 |
Capita | Andrew Williams | 23 Apr 18 | 30,000 | 179.15 | 53,745 | 40,000 | 0.006 |
City Pub Group (The) | Alex Derrick (md) | 20 Apr 18 | 6,104 | 170 | 10,377 | 431,786 | 0.739 |
City Pub Group (The) | Clive Watson (ch) | 20 Apr 18 | 20,000 | 172 | 34,400 | 2,546,475 | 4.361 |
Cronin | Laurence Ede | 23 Apr 18 | 357,142 | 2.8 | 10,000 | 801,586 | 0.146 |
Dunedin Income Growth Inv Trust | Howard Williams | 19 Apr 18 | 10,000 | 248.998 | 24,900 | 10,000 | 0.007 |
Energean Oil & Gas | Simon Heale (ch) | 20 Apr 18 | 20,000 | 467.5 | 93,500 | 41,978 | 0.027 |
Energean Oil & Gas♥ | Simon Heale (ch) | 25 Apr 18 | 10,500 | 468.9 | 49,235 | 52,478 | 0.034 |
GBGI♥ | David Gibson | 23 Apr 18 | 100,000 | 80 | 80,000 | 100,000 | 0.115 |
GBGI♥ | David Gibson | 23 Apr 18 | 250,000 | 80 | 200,000 | 350,000 | 0.402 |
GBGI♥ | David Gibson | 24 Apr 18 | 650,000 | 80 | 520,000 | 1,000,000 | 1.150 |
GBGI♥ | David Gibson | 25 Apr 18 | 200,000 | 80 | 160,000 | 1,200,000 | 1.380 |
Gresham House Strategic | David Potter (ch) | 23 Apr 18 | 2,406 | 831.29 | 20,001 | 17,125 | 0.469 |
Hunting | Keith Lough | 23 Apr 18 | 2,000 | 785 | 15,700 | 2,000 | 0.001 |
Intercede | Chuck Pol (ch) | 24 Apr 18 | 62,500 | 29 | 18,125 | 133,037 | 0.264 |
Invesco Asia Trust | Fleur Meijs | 24 Apr 18 | 7,758 | 282 | 21,878 | 13,406 | 0.019 |
Jupiter European Opportunities Trust | Norman Lamont | 19 Apr 18 | 1,980 | 742.3799 | 14,699 | 14,660 | 0.013 |
Oakley Capital Investments | Peter Dubens | 25 Apr 18 | 5,446,885 | 164.82 | 8,977,556 | 7,585,052 | 3.704 |
Old Mutual | Ingrid Johnson (fd) | 19 Apr 18 | 40,862 | 242.9 | 99,254 | 108,155 | 0.002 |
Omega Diagnostics | Colin King (ceo) | 20 Apr 18 | 190,476 | 10.5 | 20,000 | 468,253 | 0.369 |
Premier Global Infrastructure Trust | Gillian Nott | 20 Apr 18 | 15,000 | 128.5 | 19,275 | 15,000 | 0.083 |
Primary Health Properties* | Stephen Kell | 19 Apr 18 | 13,888 | 108 | 14,999 | 13,888 | 0.002 |
Primary Health Properties* | Geraldine Kennell | 19 Apr 18 | 231,481 | 108 | 249,999 | 257,951 | 0.035 |
Primary Health Properties* | Ian Krieger | 19 Apr 18 | 81,481 | 108 | 87,999 | 81,481 | 0.011 |
Primary Health Properties♥ | Alun Jones | 19 Apr 18 | 9,259 | 108 | 10,000 | 177,777 | 0.024 |
Primary Health Properties* | Alun Jones | 19 Apr 18 | 18,518 | 108 | 19,999 | 168,518 | 0.023 |
Redx Pharma | Iain Ross (ch) | 25 Apr 18 | 150,000 | 11 | 16,500 | 600,000 | 0.474 |
Rentokil Initial | Crispin Davis | 20 Apr 18 | 52,500 | 285.04 | 149,646 | 52,500 | 0.003 |
Riverstone Energy♥ | Kenneth Ryan | 23 Apr 18 | 428,596 | 1,212 | 5,194,584 | 5,925,705 | 7.014 |
Riverstone Energy♥ | David Leuschen | 23 Apr 18 | 428,596 | 1,212 | 5,194,584 | 5,925,705 | 7.014 |
Riverstone Energy♥ | Pierre Lapeyre Jr | 23 Apr 18 | 428,596 | 1,212 | 5,194,584 | 5,925,705 | 7.014 |
Scancell* | John Chiplin (ch) | 20 Apr 18 | 900,000 | 12 | 108,000 | 2,000,000 | 0.534 |
SimplyBiz | Neil Stevens | 19 Apr 18 | 25,000 | 161 | 40,250 | 1,536,975 | 2.010 |
Spirax-Sarco Engineering | Kevin Boyd (fd) | 25 Apr 18 | 750 | 5,657 | 42,428 | 2,750 | 0.004 |
Spirax-Sarco Engineering♥ | Kevin Boyd (fd) | 25 Apr 18 | 750 | 5,657 | 42,428 | 3,500 | 0.005 |
Taptica International | Tim Weller (ch) | 23 Apr 18 | 7,298 | 273.7 | 19,975 | 94,630 | 0.140 |
Tarsus♥ | Neville Buch (ch) | 19 Apr 18 | 24,000 | 306.35 | 73,524 | 9,045,918 | 7.990 |
Tarsus | Robert Ware | 19 Apr 18 | 25,000 | 307.5 | 76,875 | 275,000 | 0.243 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Ashmore♥ | Tom Shippey (fd) | 19 Apr 18 | 97,877 | 419 | 410,105 | 106,940 | 0.015 |
Ashmore♥ | Tom Shippey (fd) | 20 Apr 18 | 10,716 | 420.8 | 45,093 | 96,224 | 0.014 |
Barr (A G) | Jonathan Kemp | 25 Apr 18 | 3,400 | 688 | 23,392 | 11,530 | 0.010 |
Barr (A G)♥ | Jonathan Kemp | 25 Apr 18 | 4,000 | 688 | 27,520 | 7,530 | 0.006 |
Begbies Traynor | Mark Fry | 24 Apr 18 | 16,444 | 67 | 11,017 | 127,446 | 0.116 |
Derwent London♥ | Simon Silver | 20 Apr 18 | 8,250 | 3,092 | 255,090 | 171,024 | 0.153 |
Everyman Media | Charles Dorfman | 19 Apr 18 | 162,514 | 230 | 373,782 | 5,342,527 | 7.621 |
Everyman Media | Adam Kaye | 19 Apr 18 | 327,848 | 230 | 754,050 | 5,358,432 | 7.643 |
Everyman Media | Paul Wise (ch) | 19 Apr 18 | 327,848 | 230 | 754,050 | 2,535,992 | 3.617 |
Gamma Communications | Andrew Stone | 24 Apr 18 | 28,500 | 728 | 207,480 | 445,000 | 0.477 |
Independent Investment Trust (The) | D McDougall (ch) | 19 Apr 18 | 25,000 | 735 | 183,750 | 8,134,500 | 14.665 |
Independent Investment Trust (The) | D McDougall (ch) | 20 Apr 18 | 25,000 | 742 | 185,500 | 8,109,500 | 14.620 |
Purplebricks | Michael Bruce (ceo) | 19 Apr 18 | 4,444,444 | 360 | 15,999,998 | 33,218,147 | 11.005 |
Purplebricks | William Whitehorn | 19 Apr 18 | 225,000 | 360 | 810,000 | 613,269 | 0.203 |
*placing/tender/open offer ♥spouse/connected party |