Servoca Share Discussion Threads

[targatarga] 30/1/2009 12:57

considering that windsor was only purchased 18 months ago it only shows what a pickle this lot are in....

[targatarga] 10/11/2008 08:45

steep cliff on the chart, do we bounce off the bottom or does southwind gobble us up for a 1p.....

[deansaunders] 05/11/2008 17:43

Bust by Xmas

[targatarga] 05/11/2008 16:11

looks like we need another new beginning...

[misterpiggybank] 04/9/2008 00:13

My goodness, a modest rise in recent times, whats happening?
Looking at the activity on this BB. I may have to ramp and deramp all by myself

[targatarga] 30/5/2008 15:55

oh dear, any ideas regarding trading!

[targatarga] 31/3/2008 11:46

mdavey - uncanny resemblence to the old multi share price chart. regards

[mdavey] 31/3/2008 11:42

Having thrown everything including the kitchen sink into the results to 30th Sept 2007, it looks as though they finally have a business worth something. I was pleased to see a profitable acquisition was announced today as well. I am sure it will take a further few months for the market to see the potential here but am encouraged by the outlook statement issued today which follows -

We have now begun to fundamentally transform the performance of the Group. This
has been achieved by streamlining overheads and at the same time broadening our
service offering, giving Servoca significant momentum. Within resourcing we will
continue to invest over the coming financial year, investing specifically over
£0.5 million within training. Annual savings, which are expected to be ongoing,
of approximately £1.1 million have been made as a result of implementing our
restructuring and integration plans. The net effect of all initiatives has been
to transform a previously loss making division to one that is now profitable on
an ongoing basis.

We will continue to invest significant resource into our growing security
division.

The overall benefit from our initial investments during 2007 and continued
investment in 2008 is expected to have a materially beneficial effect in future
years.

The future of the Group and therefore future shareholder value is in the hands
of the talented people employed within the organisation. Servoca will continue
to provide resource to both new and existing staff to provide market leading
solutions to our customers. In addition, we will continue to use the depth and
breadth of experience of our board to identify good quality, earnings enhancing
acquisitions.

Our staff are now benefiting from an extensive, merit based share option scheme.
In addition we are in the process of implementing a company wide SAYE scheme,
enabling all Servoca staff to gain from their collective efforts. These
initiatives, coupled with extensive share ownership by the board of directors,
allow staff, management and board members to align their interests in providing
all shareholders with careful stewardship of the company and the future delivery
of quality earnings with increasing shareholder value.


As a long suffering shareholder, lets hope the bad times are behind us.

[targatarga] 26/2/2008 23:15

johnnyVee - still hanging around! not getting one's hopes up though....regards

[johnnyvee] 26/2/2008 12:11

Hello! Is there anyone out there? Anyone care what happens to this share (or its management? Is no news good news?????

[rjd123] 07/12/2007 09:39

Servoca buys International Security & Surveillance and ISS Special Projects




LONDON (Thomson Financial) - Servoca PLC said it bought security and manned
guarding services provider International Security & Surveillance Ltd for about
0.7 mln stg cash and 1.34 mln Servoca shares worth about 0.6 mln stg.
The group said it also bought security technology provider ISS Special
Projects Ltd for 0.87 mln stg cash and 1.14 mln Servoca shares worth about 0.5
mln stg.
The group said it has secured funding of 4.7 mln stg from The Royal Bank of
Scotland PLC for working capital and short term acquisition finance.
"The acquisition of ISS and ISS(SP) will allow Servoca to provide wider
service offerings to our existing client base as well as gaining an entry into
the manned guarding, protection and surveillance services markets, which will
provide Servoca with visibility of earnings which are profitable," chief
executive Darren Browne said.

[mg78] 03/10/2007 12:43

Would not touch it with a barge-pole.

I sold out a while ago. What a disaster. I want nothing to do with this company or any of it directors or business ops.

There are better options out there.

Not on here to de-ramp, that is my last comment on the whole Multi/Servoca fiasco.

[mdavey] 01/10/2007 09:16

Another nice acquisition of a recruitment business today:

Servoca Plc, which provides specialist outsourced solutions to police forces, local and national government and companies throughout the private sector, is pleased to announce that it has acquired, as a going concern, the business trade and assets of Firstpoint Healthcare Limited ("Firstpoint").

Details on Firstpoint

Firstpoint trades from three locations which are based throughout the UK. Firstpoint is being acquired out of administration and provides recruitment services in respect of specialist theatre nurses, general nursing and nursery
nurses. Firstpoint has a total staff 21. In the year to 31 December 2006, Firstpoint made an unaudited loss before tax of approximately #0.5m on unaudited turnover of approximately #8.9m. Firstpoint's main clients are the NHS, Primary Care Trusts and private care providers. At 31 December 2006 Firstpoint had unaudited net liabilities of approximately #5.2m.
Servoca is only acquiring the business, trade and assets of Firstpoint and thus will not be assuming any liabilities.

The Directors believe that the acquisition will be earnings enhancing and will allow Servoca to grow its service offering in the medical market.

Terms of the acquisition

Servoca will pay an initial cash consideration of #0.7m, of which #0.5m relates to the debtor book, and the remaining #0.2m is in respect of the business, trade and other assets of Firstpoint.

Commenting on the acquisition, Darren Browne Chief Executive said:

"We are delighted to have completed our second acquisition since the creation of Servoca on 7 June 2007. The acquisition of Firstpoint will allow Servoca to provide wider nursing services to our existing client base.

[isis] 29/9/2007 11:13

That's a ramp if ever I saw one.

[mdavey] 29/9/2007 10:52

Good article in todays Independent -

No Pain, No Gain: Long-suffering investors could score with Servoca
By Derek Pain
Published: 29 September 2007
If you don't succeed, try and try again. Bob Morton, the serial investor, adopted such a time-honoured approach as he wrestled with the affairs of what was, until earlier this year, known as the Multi Group.

After a number of false dawns it seems that the company, renamed Servoca, has, thanks to the Morton persistence, found a rewarding role that should eventually benefit long-suffering shareholders. He has been involved with what has so far been an underperforming constituent of his small-cap portfolio for three years. But, after his patience finally snapped, he assumed a hands-on role and became the chairman and a 40 per cent shareholder.

Multi's chequered career saw it abandon its original activity of hiring tools to builders and switch into medical recruitment, but it was hammered by one particularly unsuccessful venture. A complete revamping exercise was required – and it came, under the Morton direction, in early summer this year.

He oversaw a massive share consolidation, a £4m cash call and a reverse takeover. The resultant group retained some Multi activities but, following the acquisition of a company called Dream, it also embraced a host of outsourcing operations.

Dream, which cost £4.5m in shares and likes to call its staff "problem solving people", is an unusual creation. It has close ties with various police forces, offering them a range of services including assistance with investigations. One of its attributes is a databank of retired police officers who can be called on to give a helping hand when necessary.

Its education side provides supply teachers, and its healthcare division can supply social workers. The group also has medical interests, some of them inherited from Multi.

Since the reorganisation, Servoca has acquired, for an initial £1.4m, a company called Windsor Recruitment, specialising in healthcare and education people. Takeover talks are taking place that could increase its security side.

It is probably significant that John Foley, the former chief executive of an old Morton company, MacLellan, has joined the board. MacLellan, acquired by Interserve in a £116m deal, had a thriving security arm.

Servoca's shares are around 46p, capitalising the company at £19m. For the cash call and reverse takeover, the shares were priced at 25p.

In its former incarnation, before it ran into trouble, the shares topped the equivalent of 450p. The medical recruitment deal that caused so much anguish involved a company called Global Medics. When acquired, it was valued at £13.7m. But Global Medics failed to perform – and was unloaded for a mere £520,000.

I last commented on the Morton empire in March. I had contemplated adding another of his companies, Lorien, an online recruitment group, to the No Pain, No Gain portfolio.

At that time he was chairman and a 40 per cent shareholder, and was bidding 40p a share for full control. But I missed the boat. The shares quickly took off, hitting 70p. Lorien once held takeover talks with Servoca (but that was back in its Multi days), and was also at one time rumoured to be looking at Dream.

The Morton bid for Lorien was triggered when his family investment vehicle acquired, at 40p a share, an 18.2 per cent stake from Eaglet Investment Trust, renowned for its success with small companies.

Only a few shareholders followed Eaglet's example and sold out. Indeed, Morton ended up with a little under 50 per cent of the capital. But he was happy; he had effective control and wanted to retain the share quote. Lorien shareholders who stayed on have done well; the company is being taken over at 100p a share.

As the Multi experience has so far proved, not every runner in Morton's quoted stable has emerged a winner. But he has a remarkable record, underlined by his Lorien adventure. I would be astonished if, under its Servoca banner and with 20 per cent shareholder Darren Browne as chief executive, the new group fails to deliver.

Its figures for the year ended March were, as expected, unimpressive. A £2.7m profit was swamped by exceptional charges, leaving a £7m loss.

The next results, covering a half-year, will also be distorted by special factors. But from then on profits (and, I suspect, acquisitions) will provide excitement. The portfolio scored with MacLellan. It could well try its luck with Servoca.

[targatarga] 13/9/2007 11:53

well done mdavey,

[mdavey] 12/9/2007 12:17

Results out today confirm the disaster that was Multi Group, but now as Servoca they do seem to be getting their act together and the future prospects do look encouraging. I would think that the market will want to see the first set of interim results of the new company before significantly re-rating the shares but could be one to follow.

Servoca is now focused on two distinct divisions, Resourcing and Security
Services.

Resourcing

The new combined Group now has a significant foothold within the UK Resourcing
sector. Within Medical and Care we now have four trading brands Berry, TLP,
Dream and Windsor and these brands supply a broad spectrum of skills providing
allied health professionals, nurses, domiciliary care, social workers and other
associated specialisations. With this platform in place we look forward to
adding other specialist Medical and Care organisations to our portfolio, to
further enhance our offering to the UK Health sector. Although this sector has
been challenging in recent years, I am pleased to report that the specific
sectors and geographical locations that our companies are trading in are
encouraging with many opportunities.

The second area of resourcing that Servoca trade within is the Education sector
and through our brand Dream Education we continue to grow our market presence
both in the UK and abroad. Dream Education provides long term qualified teachers
mostly within secondary schools and we are actively looking to grow organically
and by acquisition into other specialist areas of education recruitment.

Our third division within resourcing provides staff to the Criminal Justice
Sector - Local and National Government and the Private Sector generally, but
also, more specifically, to police constabularies. Through our newly created
brand Servoca Dream I am pleased to report that we are now trading with the vast
majority of the 43 constabularies in England and Wales and have a number of
clients in other parts of the UK and overseas. We consider this area to have
significant organic growth potential and we are currently investing significant
time and resource to maximise our potential in this exciting market.

Within the resourcing sector we expect organic growth from all existing
companies and seek to make a number of other strategic acquisitions throughout
the coming year.

Security Services

With the creation of the enlarged Servoca, we acquired a criminal justice
outsourcing division that was housed within Dream Group Limited. The Division
has enjoyed particular success in the areas of criminal justice training, crime
training, the outsourcing of cold case reviews, business process outsourcing and
the provision of highly experienced teams into sensitive areas. Most recently we
have been able to extend our reach to include a forensic offering to the UK
Police Service and we are now planning to grow our forensic service offering to
the criminal justice sector within the UK and abroad. This division will be
grown independently of the resourcing division, and we are now negotiating to
acquire additional companies with whom we have synergy. The Group will maintain
its current aggressive internal investment program which will enable Servoca to
maximise the organic growth within this fast growing sector.

Servoca intend to build this division to become a significant provider of high
end specialist security services to this sector. We are in the process of
recruiting additional senior management in order to assist us in achieving our
challenging goals.

Outlook

To shape and deliver the future of the Group we rely upon the people that work
within our organisation. At Servoca we are extremely fortunate to have
exceptionally committed people who work tirelessly on behalf of our customers to
deliver real innovation and customer satisfaction.