Interserve Share Discussion Threads

[tomboyb] 11/12/2018 07:17

Thanks for that Nemanja -

[nemanja1] 11/12/2018 06:00

Dear Colleague

Following my email to you all last week, you will no doubt be aware that Interserve has again been in the press over the weekend, surrounding our plans to deleverage our balance sheet.

We have already responded with a public statement which you can access on the interserve.com website​.

We have also put a very useful note for you all onto Insite and IRIS which explains what deleveraging is and also provides some very useful messages that you can give to our customers and clients.

As I emphasized in my note to you all last week, we have been making good progress as a Group over the last year, including delivering strong profit growth and the delivery of our 2018 Fit for Growth savings in line with our commitments to our lenders.

We are a strong business that delivers a range of excellent services across the UK and internationally, and it absolutely remains ‘business as usual’ as we end 2018 and head into 2019 with great opportunities to strengthen the business further. As I said last week, ILE has a key role to play in this. I can also confirm that the press references to a business being sold in the Middle East do not relate to ILEI.

In addition, given the amount of work Interserve provides on behalf of UK government, you should all also take comfort in the knowledge that the Cabinet Office has also publicly expressed full support for our long-term recovery plan too.

If you receive any queries from external stakeholders that you would like some help in handling, please do also let me or another member of the senior team know as we are on hand to proactively assist with these.

Overall, let’s stay firmly focused on delivering excellence for our learners, job seekers and customers and continue to strengthen the business and improve on what we do ahead of the opportunities that await us in 2019.


Yours faithfully,


Chris Peel

[billtucker] 11/12/2018 02:31

Losees- yes he did indeed buy around 64p, but the share prive has risen to over £1 since the three times. How do we know he never sold them and just kept buying low and selling high. After all he had full inside disclosure about what was going on. I wouldn't be surprised if he had a short open too in the last 6 months.

[buywell3] 11/12/2018 01:59

IRV are heavily exposed to Government PFI's

When Labour get in these companies that are ... will get well and truly rogered

Till they all fall down

[skyblue5] 11/12/2018 00:40

How they going to service that 25m contract?
Wake up they are not going to get credit with any suppliers or sub contractors.
DW the party is over.

[skyblue5] 11/12/2018 00:06

Unfortunately I warned as ex regional manager. SMT were not interested delivering to the customer. Just self auditing, box ticking and rewarding self with bonus at any chance. I did not take my share save option as were overpriced.
Sorry you share holders will carry the burden. True debts will increase as sitting on PO'S work completed. So sub contractors stung as well

[5huu] 10/12/2018 22:47

When this was trading at £1 earlier in the year, there was a degree of confidence in the prospects at that time (but then debt was still there). So even considering 90% dilution (SP ending up at 10p), there must be significant upside once the debt is back to sensible ratios. I'm not invested here, but taking a short but closer look.Positives - Govt & lenders look to be supportive and fit for growth program is delivering (so we're told), Sales pipeline robust, some big insti holders who get to vote on deleveraging. Remaking risks = >90 dilution, labour govt in power (unlikely)All thoughts welcome, for someone looking in with fresh eyes.

[losses] 10/12/2018 21:59

Debbie's partner bought share around 75p I think...

[losses] 10/12/2018 21:57

Interserve's government-backed waste into energy effort stinksHttps://uk.finance.yahoo.com/news/interserve-apos-government-backed-waste-192125537.html

[this_time_its_different] 10/12/2018 21:51

I mean when the fca gets disclosure of positions bought or sold by insiders. I know in the us, the sec is notified when directors buy or sell shares.

[cc2014] 10/12/2018 21:51

Dex. The Board keep using the phrase "underlying profit is significantly ahead of last year".

It's completely true, factually correct, but... 120% of sweet f all is still f all.

The underlying profit is dwarfed by the exceptional costs. They never tell us what the actual profit is going to be...

[billtucker] 10/12/2018 21:47

TTID- That's insider dealing mate...

[this_time_its_different] 10/12/2018 21:43

The main thing you want to look at is if the directors are buying, if they are not at such a “bargain”; price, there are skeletons in the closet

[essentialinvestor] 10/12/2018 21:37

Dex,.. material..in stock market parlance is 10%.

[this_time_its_different] 10/12/2018 21:37

Board might be bending the truth, everything is always “business as usual”, till the profit earnings show up. The fact the board kept quiet watching the stock collapse from £1 to 10p says a lot really.

[dexdringle] 10/12/2018 20:32

Material = 50%. Catastrophic = 90%.

The mismatch between the media coverage and the company statements is ridiculous. One is dramatic disaster and the other is 'matter of fact' and 'plan on track'.

I see no point the company being falsely bullish / lying about about the state of affairs. What they need to do is refute the media speculation. That they are not is more than a bit worrying (well it us when you have £10k in the hole at an average £1.40).

And then there are the new contract win announcements. None of this is making any sense....

[boffster] 10/12/2018 20:22

What are you going on about Fenners. With the best will in the world there's never any way that Interserve would have paid off all its debt by 2021, so logically an extension / rollover / refinance whatever is taken as read. That is something companies do all the time. I maintain, far as I can see nothing material has altered over the weekend.

You seem to do quite a bit of posting here with a condescending 'I told you so' attitude. I do hope you use the rest of your time more constructively. "silly comments on here are not going to move the share price , so why waste everyone's time" Maybe take your own advice?

[blueball] 10/12/2018 20:12

stay short.

[fenners66] 10/12/2018 20:07

>Boffster

"we've had erroneus press articles over the weekend which have overdramatised the situation"
"repeated what it said a fortnight ago"

You think so do you ?

So you think this was said 2 weeks ago huh?

From the RNS

"These discussions also involve proposals to amend the Group's current financing agreements, including the extension of the maturity dates and repayment profiles of the existing facilities"

You probably do not know how much it cost to arrange those maturity dates and facilities in the first place.
Why do you think they now have to be extended ?

Because their finances have improved ? Or got a whole lot worse ?


From the RNS -

"in this form, the deleveraging plan could result in material dilution for current Interserve shareholders"

Whilst the more intelligent may have realised that some time ago - that is the first time (not 2 weeks ago) that the company have actually admitted it.

So go on ignore all the facts.... that's what got many underwater here in the first place......

[buywell3] 10/12/2018 20:00

You said it


Wales is of course a Labour stronghold


So the plan is to get IRV shareholders to spend a shedload of English money

Then the Labour new Government will abolish PFI's


topvest10 Dec '18 - 18:25 - 11305 of 11315

A hospital contract in Wales awarded to Interserve. Don’t they read the news?

[boffster] 10/12/2018 19:59

Rather bizarre really when you consider that nothing has changed since Friday, we've had erroneus press articles over the weekend which have overdramatised the situation, and the company issued a statement today which basically just repeated what it said a fortnight ago. The trouble with this misleading / inaccurate press being that it only serves to further shake confidence from a supplier / customer point of view.

Funny thing isn't it confidence. Its the power of thought. Something can happen just because everyone thinks it will. If nobody thought it would, then it wouldn't! Similar to the 'wasted vote' effect on 3rd and 4th political parties.

It is strange to me that the board would, at a time when the equity is virtually worthless, want to deleverage to a debt / ebitda ratio which would flatter many a FTSE 100 company.

[fenners66] 10/12/2018 19:53

It was always going to be the case that after a 60% fall this share would attract some "quality posters" for a few days no doubt.

Gambling on short term price movements.... good luck it will go up and down no doubt for a while so some can make money either way - and some will lose it as well....

But the silly comments on here are not going to move the share price , so why waste everyone's time ?

[pundit1] 10/12/2018 19:16

Jeffian/Fangorn - cheers guys

[fangorn2] 10/12/2018 19:11

Probably down to "lag" his end Jeffian.

Occasionally get that myself.

[jeffian] 10/12/2018 18:56

Well you managed it that time. Steadier hand?!