Driver Share Discussion Threads

[battlebus2] 09/10/2013 19:08

Great, new highs :))

[bigbigdave] 09/10/2013 18:10

Think a few may have read ic2's write up on the 'zulu' thread :o)

[cfro] 09/10/2013 15:53

Signs of life. :-)

[battlebus2] 01/10/2013 18:24

Yes looks very good for the African side of Driver.

[cfro] 01/10/2013 18:20

Absoloutely BBD, yet another piece of very good news which makes perfect financial sense. Should add to overall end of year profits.

[bigbigdave] 01/10/2013 07:12

Sounds good news to me....
RNS Number : 3355P

Driver Group plc

01 October 2013

1 October 2013

Driver Group plc

("Driver Group" or the "Company")

Acquisition of Minority Interest

Driver Group, the global consultancy to engineering and construction industries, is pleased to announce further developments in its Africa business. The Company has acquired the remaining 49% shareholding of Driver Group Africa Pty from SADC Project Consulting (Pty) subject to a condition precedent that the authorities issue the appropriate Exchange Control confirmations in due course. This takes the Company's shareholding in Driver Group Africa Pty to 100%.

The initial cost of the acquisition is ZAR 3.3m (GBP0.2m) satisfied in cash and a further ZAR 2.7m (GBP0.17m) satisfied by grant of options over Driver Group shares. Further consideration, to be satisfied by the grant of options over additional shares, will be payable based on the audited net profits of the consolidated Africa business as at 30 September 2013. Thereafter, dependent upon profitability of Driver Group Africa Pty from 2014 to 2016 and lock-in arrangements of two key directors, additional consideration (satisfied by the grant of options over shares) may be payable under the terms of the agreement. The total maximum consideration (including the initial consideration) is capped at ZAR 3.3m (GBP0.2m) in cash and share options with a value up to ZAR 12.9m (GBP0.8m). The maximum number of shares under option pursuant to the terms of the agreement will be calculated by reference to the closing price of a Driver Group share on 1 October 2013.

Dave Webster, Chief Executive Officer of Driver Group said: "This transaction is a great deal for Driver. The initial cost is more than covered by the balance sheet and future costs are paid out of retained profits. On an operational perspective, we have full control and leadership commitment in the Region with the two key directors from SADC transferring over as employees of Driver Group Africa which will ensure we can more efficiently serve our current and future clients as well as delivering better shareholder value."

[cfro] 30/9/2013 18:35

End of the financial year today (30th). Last year they did issue a trading statement in Oct and i know in previous posts here that we are all expecting one, but its possible that they might not issue one at this time as we did get one back in July stating that the company is trading ahead of expectations.

[interceptor2] 25/9/2013 08:26

Shrewd acquisition in Hong Kong where there seems to be plenty of opportunities for consultancy companies. I am thinking about the recent contract for the rail link in Hong Kong for Sweet Group CSG.

ic2...

[battlebus2] 25/9/2013 07:50

Yes a few figures would be nice but very shrewd as you say cfro.

[cfro] 25/9/2013 07:49

Looks another fantastic acquisition to me and keeping Peter Ho on to head up the Hong Kong office is a very shrewd move.

[allstar_07] 25/9/2013 07:48

Few more details would have been nice!

[saucepan] 25/9/2013 07:33

I wonder if that will take us to breakout.

[battlebus2] 25/9/2013 07:15

Looks a fit-

Driver Group, the global construction consultancy to the construction and engineering industries, is pleased to announce further progress in its growth strategy for the Asia Pacific Region. The Company has acquired certain contracts and goodwill of PJ Consulting Limited and its proprietor Peter Ho, a Hong Kong based arbitrator, mediator and quantum expert. Peter Ho, an experienced, very well respected and long standing consultant in Hong Kong and the wider Asia Pacific market, will be joining the Company and will head up our Hong Kong office that will open on 1 October 2013.

Dave Webster, Chief Executive Officer of Driver Group, said "I am delighted with this transaction and look forward to working with Peter as we continue to serve his clients and ours in Hong Kong and beyond. This is another significant step in delivering our strategy of expanding our platform in Asia Pacific and providing support to clients in this region operating globally".

[cfro] 17/9/2013 14:15

Breakout going to happen any time....

[effy123] 17/9/2013 12:26

Yep, breakout a real possibility from here, the market's still looking for stock.

[saucepan] 17/9/2013 12:19

Poised for breakout?

[bigbigdave] 17/9/2013 12:19

Wonder what's 'Driving' this rise? :o)

[rp19] 17/9/2013 11:15

Nice tick up.

[rp19] 16/9/2013 19:49

Two big trades at circa 1.10 today.

[cfro] 13/9/2013 15:44

Still, that isnt too far away is it.

[rp19] 13/9/2013 15:15

Apologies - my school boy error.

[effy123] 13/9/2013 15:02

"...This year the Half Year report was approximately a month earlier (21-05-13). Therefore we may not be far from a trading update..."


Year end is 30 September so it wont be before then. Around 16 October again would be my guess.

[rp19] 13/9/2013 12:38

Looking at previous dates, the Trading Statement could be fairly soon.

Last year the Half Year report was 27-06-12, followed by a Trading Statement on 16-10-12.

This year the Half Year report was approximately a month earlier (21-05-13). Therefore we may not be far from a trading update.

[saucepan] 12/9/2013 19:12

Yes, bbd. I, too, noticed the small tick up today and pondered whether it will be the start of a run to new highs. I won't be at all surprised if it is :-)

[bigbigdave] 12/9/2013 19:03

Next leg up forming here? Note there was a trading statement mid October last year so not too far away perhaps if the same date this year.