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IRV Interserve

6.30
0.00 (0.00%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Interserve IRV London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 6.30 01:00:00
Open Price Low Price High Price Close Price Previous Close
6.30 6.30
more quote information »

Interserve IRV Dividends History

No dividends issued between 20 Apr 2014 and 20 Apr 2024

Top Dividend Posts

Top Posts
Posted at 23/10/2019 09:23 by cc2014
I remain amazed at this company. They still haven't finished the Premier Inn in London either yet they continue to win plenty of work. All UK tax-payer projects of course. Very few are for the private sector.
Posted at 03/7/2019 15:46 by jeffian
Nothing to do with IRV per se, but this conversation about Directors' shareholdings is way off beam. Directors are required to disclose their beneficial interests in shares however they are held - in nominee account, in certified form, whatever - and that extends to their immediate families (wives/husbands/children) whose holdings (however non-PC it may be!) are assumed to be "theirs".
Posted at 25/4/2019 12:57 by cc2014
So, is the finance director responsible for the failure of operations to hand over EfW or responsible for getting new work or restoring margins? Should finance directors be shot out the door for the non-performance of their colleagues? or because the comms director hadn't got a scooby.

As far as I could tell from a distance the only directors trying to sort out IRV were Debbie White and Mark Whiteling and were severely let down by their operational colleagues who couldn't get jobs handed over.

Here's another job that's in a mess:


Derby still isn't handed over...

I assume he's been encouraged to go. You don't need a heavyweight FD if your shareholders are your lenders as there is no negotiation to be done. Again if you aren't reporting to the stock market it's the same.

The FCA are after IRV too and now the banks are the owners there is someone to pay the fine (rofl).

I'm not sure anyone would want the grief at IRV for any money. It's the sort of role that will ruin your career forever.

I really do wish Debbie the best of luck but I don't know why she's bothering either. Until operations learn how to get every job finished on time to a decent quality it's an impossible situation.
Posted at 12/4/2019 05:38 by newtothisgame3
#IRV #Interserve Grant Thornton's audits to be investigated

BBC News - #IRV #Interserve outsource firm accounts investigated
Posted at 05/4/2019 08:49 by cc2014
Interserve’s joint venture partner on three energy-from-waste (EfW) plants needs to find £68m today or it risks collapse.

Sad to say this is going to cause even more losses for IRV. I hope those bankers who now own IRV really understand what they are doing.
Posted at 11/3/2019 12:21 by cc2014
Your analysis re buying now vs buying in the open offer is correct. If you buy now you run a risk your shares are completely wiped out in a few days, whereas if the deleveraging plan is not approved the open offer will not go ahead.

However, the share price post deleveraging could go down as well as up. Don't forget some of the bondholders will be able to trade their new shares on market to crystallise their cash. If you are RBS who are not in the habit of owing businesses this may be attractive. Even selling their shares at a 20% discount to 15.3p may seem attractive. I'm not saying this is going to happen but it is something worth thinking about.

Finally I have to ask. If you currently have a balanced portfolio where IRV is no more than 5% of your portfolio, your portfolio would be £100k of which 5k is IRV. If you go for the OO, you have to invest 95k, taking your total portfolio to £195k at which point IRV is over 50%. Or you have no more capital you have to sell all your other investments which will make IRV 100% of your portfolio.
Posted at 27/2/2019 08:41 by cc2014
I'm not sure where this is going at all. The Coltrane plan looks good to me and I'm surprised the lenders aren't keener on it as it would enable them to take the rights up at below market price and sell those shares on, realising some of their cash. On the other hand they seem to want total control of the company regardless.

For me I've moved on now. Despite all my research into IRV it's clear those close to the situation know far more than me and the IRV directors continue to make no comment. No trading update or accounts either. In a way I hope the Coltrane plan goes through and all the directors except one get removed. I'm not sure where that will leave the company in terms of motivation of the senior management team.

The good news is that it looks like IRV will survive, which is good for employees and the taxpayer. The extra £75m especially if it's a rights issue should enable them to stabilise things.

That's if there is anything left to stabilise by the time the deal is done.
At the end of the day 3 EfW still have to be sorted, the Viridor claim settled and who know how all this is affecting the ability of the business to generate new work and undertake existing work effectively. And then there's the Middle East which worries me.
Posted at 12/12/2018 13:40 by cc2014
I have a question. A serious question.

Who is buying here? It seems to be agreed shareholders are going to get all but wiped out.

A quick look at the accounts gives:

Gross debt at June £807m vs borrowing limit of £834m
Trade creditors £736m

If only a small proportion of the supply chain start demanding earlier payment (which is happening) IRV simply run out of money.

I don't understand, writing off some of the debt may ease the interest burden but even if £500m is written off, IRV is going to need more cash to keep going.



One lender looks at another across the table "so, what we're saying is not only have we got to swap £500m of debt for equity, we've also got to give them £200m cash to provide confidence to the supply chain. Remind me wasn't the £200m we put in just 7 months ago supposed to do that already."

The other lender looks at the first one "Indeed and they were supposed to get all these EfW handed over in return and now the Council is telling the government they have no more knowledge on the reasons for the delay than is in the public domain, which is interesting as some of the council meetings are held in closed session to keep things out of the public domain. So, presumably they just eat cake and don't know what's going on any more than the shareholders." When is it they are getting these EfW commissioned again?"

The other lender says "according to emails we've seen from IRV before the end of the year, according to information from the Council given to the Government they seem to be saying early next year"

"Right then, so in summary, it's exactly the same as in April, IRV need about £200m to keep going and in return they will hand over EfW, we will get repaid the £200m with lots of interest"

The other lender looks over:
"How do I know they won't want another £200m in Sept 2019?" as by then surely Viridor will have launched their court case for £72m plus interest. Oh yes and then there's the FCA claim.

Finally:
"I know what we'll do, we'll get some new investors who will put in the £200m. That's what we usually do. We'll charge them a nice fat fee."


Seriously, why is the price 12.5p and not 3-5p? Even if you don't agree with the £200m, someone is going to have to put in £100m to stabilise things.
Posted at 04/12/2018 13:23 by fenners66
TTID - this is the IRV BB - but you post references to any stock you like - that's how we learn about other shares.

No doubt I read about IRV on another board discussing dividend yields.
Posted at 30/11/2018 14:45 by pundit1
There’s something inheritantly wrong with construction in the UK imo. Far too much risk and with IRV and EfW seems put anything on the table and we will sign up to it. Why bother with construction? IMO get rid asap and concentrate on core SUPPORT SERVICES work. Why list as support services but do so much risky stuff in construction? LOOK at how big IRV said the market value was......and what contract wins have there been? Winning work was another cornerstone of the 2018 plan. And Justice and other companies experiences in Health provision seems to suggest little or no profit arises from such involvement.....wonder if we shall ever get sight of the figures? I thought the new Company Secretary from Premier was going to sort out disposals. The 2018 plan included disposals but it seems these ever only consisted of Haymarket, access division at £3m, and construction plant auction, oh and the employees RPI pension they worked so hard for. Without the employees pension golden pot it seems to me IRV would be well on it. Never mind 30p share value. Anyone wish to sit on the remuneration committee and agree fees for the Chairman and Non Execs.....’the turmoil of the last 16 months is behind us’ and at IRV the price of oil is going up. Well not anywhere else in the world at the moment. And yes I am frustrated at the lack of progress and pace. I only read the Annual report not write it.

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