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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Servicepower | SVR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 6.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 6.00 | 6.00 |
| Top Posts |
|---|
Posted at 16/12/2016 07:24 by yoyoy 16 December 2016ServicePower Technologies Plc ("ServicePower" or "the Company") Extension of Loan Facility ServicePower Technologies Plc (AIM: SVR), a market leader in mobile workforce management software, announces that it has entered into a side-agreement with Herald Investment Trust plc ("Herald") to amend the terms of the existing loan between Herald and the Company ("Loan Amendment"). On 8 February 2016, ServicePower entered into an agreement with Herald, pursuant to which Herald agreed to provide ServicePower with an unsecured loan facility of £1,000,000 for working capital purposes. Interest is payable upon the loan at the rate of 8 per cent. per annum (the "Facility Agreement"). The principal of the loan and all accrued interest is due to be repaid on 16 December 2016 (the "Loan"). As a result of the recommended cash offer for the Company by Diversis Capital UK Limited ("Diversis") (a subsidiary of Diversis Capital, LLC) (the "Offeror") as announced on 8 December 2016 (the "Offer"), the Company entered into an agreement on 15 December 2016 with Herald whereby the repayment date for the principal of the Loan and all accrued interest has been extended to be on the earlier of: (a) the date falling fourteen days after the date on which the Offer becomes or is declared wholly unconditional in accordance with its terms in accordance with the provisions of the United Kingdom's City Code on Takeovers and Mergers ("City Code"); (b) the business day immediately prior to the date on which admission of the Company's shares to trading on AIM is cancelled in accordance with Rule 41 of the AIM Rules for Companies ("AIM Rules"), following the Offer becoming or being declared wholly unconditional in accordance with its terms; (c) the date falling fourteen days after the date on which any other or competing offer ("Alternative Offer") made by any party other than the Offeror and/or its concert parties (as such term is defined in the City Code) to acquire the entire issued and to be issued share capital of the Company in accordance with the City Code becomes or is declared wholly unconditional in accordance with its terms; (d) the date on which it becomes reasonably apparent to the Company that the Offer or any Alternative Offer will not become wholly unconditional in accordance with its terms, in which circumstances, the Company shall repay to Herald one half of the total principal amount outstanding under the Facility Agreement, together with all accrued interest thereon within five business days of such date and with the remaining balance of one half of the total principal amount outstanding and all accrued interest thereon to be paid by the Company to Herald on 31 May 2017; and (e) 31 May 2017. All other terms of the Loan remain the same. Related party transaction Herald is a related party of the Company as it holds more than 10 per cent. of the issued share capital of the Company and is therefore a substantial shareholder for the purposes of the AIM Rules. As a result, the Loan Amendment constitutes a related party transaction for the purposes of the AIM Rules. The Directors of ServicePower, having consulted with finnCap, the Company's nominated adviser, consider that the terms of the Loan Amendment are fair and reasonable in so far as the Company's shareholders are concerned. City Code Diversis has confirmed that it does not deem the Loan Amendment to be a 'frustrating action' and will therefore not require shareholder approval pursuant to Rule 21.1 of the City Code. |
Posted at 14/12/2016 19:25 by yoyoy SERVICEPOWER TECHNOLOGIES PLC14/12/2016 | Press release | Distributed by Public on 14/12/2016 12:34 Home Assistance Business Renews Contract ServicePower Technologies Plc(AIM: SVR), a market leader in mobile workforce management software, today announces that it has signed a new three year contract with a leading home assistance business. The client, which delivers maintenance and repair services to millions of UK home owners, has renewed its contract for ServiceSchedulingand ServiceOperations, used to schedule and optimise employed mobile engineers, as well as manage and dispatch subcontracted mobile workers. Marne Martin, CEO, ServicePower, stated 'We're delighted that the client continues to work with us using our mobile workforce management platform to help it manage its operations.' |
Posted at 22/11/2016 22:31 by dan_the_epic Well first of all you're being silly to even suggest a company could get taken over at a 1000% premium. Go find an example of such a premium. It would be corporate suicide, and totally stupid, so yes, it is pretty ridiculous to even suggest it.Now to your points in turn: A) The salary paid is ridiculous. We can all agree on that. You could perhaps halve it to £125k (or a bit more), for a divisional MD. Great, but £125k is miniscule for any seriously sized company. Admin costs are £7m. What makes you think those costs can be reduced by the balance of £875k without damaging the top line? Staff costs alone are £6m in total. B) You say the software is already developed, yet alone they are capitalising/investi C) Nothing to suggest a 10% bump in sales will lead to a proportional profit rise. Funny way in business for new costs to be found as sales rise. D) With the track record of this lot, and the size of this company and the reliance on a few contracts etc etc., who in their right mind would pay a PE of 12. Something like 7-8 is the more realistic ballpark, or maybe 9-10 maximum with a premium. It's easy to say, cut these costs, push these numbers up, and SVR is very attractive, but there is a reason why those things haven't happened. Partly management probably, and also probably partly because things are not as rosy as you may think. Rest assured, if this was such a stonking bargain that even a 1000% premium could be paid and it would still be cheap, then this would have been snapped up AGES ago. It hasn't and that tells you all you need to know. |
Posted at 22/11/2016 18:42 by alamaison5 SVR will fly tomorrow! |
Posted at 16/11/2016 01:23 by yoyoy Back in 2014 Servicepower partnered with servicemax to extend servicemax's capabilities. It would seem an ideal opportunity for servicemax to pick up servicepower's technologies on the cheap."Landmark Agreement with ServiceMax Agreement expands reach into Force.com customer ecosystem ServicePower (AIM: SVR), a market leader in field management, today announces a new agreement with ServiceMax, the only global, completely native Force . com field service application in the industry. Under the agreement, ServiceMax will integrate ServicePower’s patented schedule optimisation product, ServiceScheduling, recognised as the leading optimisation technology for large workforces, into OptiMax, ServiceMax’s workforce optimisation module available on the Force.com AppExchange. The integrated solution enables the companies to provide a unified, single vendor field management solution to a multitude of field service organisations, across geographies and industries, including medical devices, oil and gas, and utilities where customers are looking for the Salesforce CRM and well developed optimisation capabilities. Marne Martin, CEO of ServicePower commented "Our relationship with ServiceMax creates a unique competitive offering in the field management industry, capitalising on the strength of our patented optimisation technology, and the breadth of the Force.com platform on which ServiceMax has built its 100% native solution. As a single vendor solution for global field service organisations, we can provide clients productivity and efficiency improvements, in addition to Force.com’s CRM features through Optimax. While increasing our penetration of the Force.com customer ecosystem, the partnership also expands our sales footprint to new geographies around the globe.” Dave Yarnold, CEO of ServiceMax. Added, “Our integration with ServicePower enhances the ServiceMax platform with industry recognised optimisation technology, further extending our ability to provide an end to end, field service management solution to the Force.com ecosystem, and beyond.”2 |
Posted at 15/11/2016 16:56 by brummy_git IMO, Constellation could now want to buy SVR even more because it is one of the only "independent" field service software developers (of any scale) available. |
Posted at 10/11/2016 17:54 by brummy_git A Private Equity firm (Francisco Partners) purchased industry leader Clicksoftware (who at that time were unprofitable) for ~3.1x sales in April 2015 - which if used for SVR would equate to a 17p/share take-out price.Therefore IMO any agreed offer for SVR would need almost certainly to be pitched above 6p, and possibly even > 10p. |
Posted at 10/11/2016 16:49 by brummy_git Constellation have been a serial acquirer of UK software businesses (eg Bond International recently) - and are rated on circa 6x sales. Meaning any deal south of 35p/share for SVR, would at least be marketcap accretive.Clearly they would never offer anything like that amount, but IMO neither would 10p+ be a particularly big stretch. |
Posted at 10/11/2016 16:36 by yoyoy Going into a UK based company, I wonder if the tax losses ramped up over the years will be worth anything.Finncap has a price of 6p, for whats that worth. Homeserve, a SVR customer I think, is expecting a big increase in its business. I think the directors will hold out for more. otherwise it would have been an agreed takeover. CEO's options kick in at 5p |
Posted at 10/11/2016 16:06 by morton2011 Out of interest had a look at Jonas and nearest business they own I can find is hxxp://www.compusourI had shares in SVR around 13 p a few years ago and traded in and out on the way down to minimise the loss but baled out a few months ago as could never see the price getting back up. Some you lose.. This deal will be up to what the directors and Herald Inv want given they own so much of the company. Interesting timing also given the Herald loan of £ 1.07 million which is due on 16 Dec. Hugh Fitzwilliam-Lay has bought a lot of shares in last 2 years (2 million at 4.5 in 2015) and other shares in last year along with Marne Martin at 2.5p approx. He and Herald own a lot more bought at higher prices but feels like they want out. So Mr Market's price of around 4.5 p today is quite possibly a price they have discussed with Jonas. If so its £ 6 million for the shares and £ 1 - £ 2 million for debt/ working capital for a company that does not make any profit but has £ 13 million of relatively steady sales. Strip out the ineffective management and Aim fees etc and there is profit for next few years without much effort. All seems to underpin the current price. Another bidder is best hope here imho and as Spooky points out if no offer made bad news for the share price |
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