Interserve Share Discussion Threads

[the juggler] 13/12/2017 16:33

A breathing space at last! Now lets see some real progress on the restructure and the plan to make this a great company once again.

[dandanactionman] 13/12/2017 16:28

All the following imho dyorIt seemed a very strange time of day to announce? Would an rns of this type not normally be before hours ?Incidentally I have bought more at 1609 (the 22428 buy). These still seem high risk to me but imho have gone from super high risk to high risk.

[cfc1] 13/12/2017 16:27

Losses...cant argue with that and cant comment on sources!

[losses] 13/12/2017 16:24

CFC looks like your source gave you wrong info regarding no update in Dec

[cfc1] 13/12/2017 16:21

it simply proves this company is NOT going bust and will rebuild from here...PWC advising on strategy - even attending mtgs etc

All positive and constructive stuff

[cfc1] 13/12/2017 16:20

think Jeffian might buy now too.

[cfc1] 13/12/2017 16:16

lets not rub Hootz nose in it...he was always ok here.

I think it gives Interserve, lenders, PWC much more time to structure for growth ...this will easily get back to 150P by june next year if not earlier.

[losses] 13/12/2017 16:11

Hootza616... great timing to sell lol!

[cfc1] 13/12/2017 16:08

Losses - and yet the share price collapses further!!!

[losses] 13/12/2017 16:05

Take that fenners

[losses] 13/12/2017 16:04

Interserve PLC Update on financing and debt covenantsSource: UK Regulatory (RNS & others)TIDMIRVRNS Number : 2772ZInterserve PLC13 December 2017News Release13 December 2017UPDATE ON FINANCING AND DEBT COVENANTSInterserve is pleased to announce that it has secured additional short-term committed funding for the Group. In addition, we have reached an agreement to defer the test date for compliance with our loan covenants to 31 March 2018. This provides a platform for continued constructive discussions with the Group's lenders, with a view to securing its longer-term funding.The additional facilities totalling GBP180m comprise a GBP38m committed revolving credit facility, GBP37m of committed ancillary facilities, committed bonding facilities of GBP93m plus GBP12m of additional funding available by agreement with the lenders. The facilities expire on 30 March 2018.In order to obtain these facilities, Interserve has agreed to close out its cross-currency swaps, which hedge exchange rate exposure on existing US Private Placement loan notes. The proceeds generated by closing out the swaps of approximately GBP44m will be used to repay existing borrowings from current bank facilities. Unwinding the accounting for the sterling value of the debt and the associated offsetting swap transactions will increase net debt by approximately GBP10m.In September, we launched a group wide performance improvement plan, Fit for Growth, aimed at improving cash and margin performance. As part of this plan, we initiated a series of work streams to address our operating model and the cost base of our operations, as well as ensuring that we are operating in market segments which are both profitable and offer opportunity for growth. We will make further announcements about the output of these work streams in due course and it will form an integral part of the discussions with our lenders in respect of the longer-term financing of the Group.Debbie White, Interserve's Chief Executive, said:"Securing these agreements puts Interserve on a firmer footing. Whilst there is still much to do, Interserve has significant opportunities based upon a strong client base and our dedicated employees. There is considerable potential for business improvement across the Group. These short-term committed borrowing facilities, together with the ongoing work to clearly define the strategy and commercial structure for the business going forward, will bring further stability and clarity for our clients, our people and our shareholders."EndsFor further information please contact: Robin O'Kelly, Director of Communications [phone] Rhys Jones, Head of PR, Interserve [phone] Michael Kinirons, CNC Communications [phone] This announcement contains inside informationLEI: 549300MVYY4EZCRFHZ09Classification: Inside informationAbout InterserveInterserve is one of the world's foremost support services and construction companies. Our vision is to redefine the future for people and places. Everything we do is shaped by our core values. We are a leader in innovative and sustainable outcomes for our clients and a great place to work for our people. We offer advice, design, construction, equipment, facilities management and frontline public services. We are headquartered in the UK and listed in the FTSE. We have gross revenues of GBP3.7 billion and a workforce of circa 80,000 people worldwide.www.interserve.comFor news follow @interservenewsThis information is provided by RNSThe company news service from the London Stock ExchangeENDMSCOKNDPPBDDPBD(END) Dow Jones NewswiresDecember 13, 2017 10:58 ET (15:58 GMT)

[losses] 13/12/2017 16:03

Hmmm what happened there???

[samdb] 13/12/2017 16:02

Definitely someone playing games, that was a 10% swing

[cfc1] 13/12/2017 15:46

samdb...possible but also note IRV started the week at this price so I wouldnt be surprised if it gets reversed any time soon and gets run back up....5-7% swing is great for the hdge funds...it seems illegal to me!

[samdb] 13/12/2017 14:45

Probably means there's a large sell order in the background.

[fenners66] 13/12/2017 14:02

tiny buys/sells and massive impact on share price - is normal in less liquid shares

get over it.

[hootza616] 13/12/2017 13:51

Just sold out guys, sorry, but can't sit and watch what remains of my investment deteriorate daily when it could be going in the other direction elsewhere.
No confidence here at the moment, may be back in January but think ill be buying at the same or less than today's share price Should have twice as much cash to spend if the rest of my portfolio carries on climbing. Good luck to those who are holding for the good news!

[cfc1] 13/12/2017 13:37

tiny buys/sells and massive impact on share price - totally corrupt.

[fenners66] 13/12/2017 12:54

Tea with your breakfast today then?

[cfc1] 13/12/2017 12:48

still being played....
Think we wont get news till end Jan now.....or so my sources tell me.

[losses] 13/12/2017 12:08

Winding down for Xmas