Sectorguard Share Discussion Threads

[lecks17] 16/4/2009 19:20

lets hope we havent employed these guys within the 400 people transferred :-
Exclusive: Ex-SAS troops' cleaning firm acused of £7m National Insurance scam
Jun 29 2008 By Raymond Hainey

A CLEANING firm run by ex-SAS soldiers is being probed over claims of a £7million tax and National Insurance scam.

Tax inspectors are investigating whether money was siphoned off from Craft Services Group to buy property in Turkey instead of being paid to the Government.

Revenue and Customs were tipped off by a former employee who was refused unemployment benefit despite her payslips showing NI deductions for three-and-a-half years.

Not a penny had been paid by the company on her behalf.

And wage slips seen by the Sunday Mail show dozens of casual staff sharing the same date of birth and just three NI numbers between them.

Hundreds of staff were made redundant when the company's subsidiary Craft (Northern), based in Wishaw, Lanarkshire, went into liquidation this month. It ran security and cleaning services.

Insolvency expert Stephen Hunt has been called in by HMRevenue and Customs (HMRC).

He said: "We have been appointed to investigate allegations that the firm had failed to declare or to pay £7million in VAT, PAYE and NI.

"The allegations are extremely serious. I am investigating why the company invested large sums of money in property in Turkey."

Susan Nicol, 37, was refused unemployment benefits after being made redundant.

Susan, of Cleland, Lanarkshire, said: "Every week on my payslip the tax and National Insurance had come off.

But I was told I wasn't entitled to anything."

Craft director Vince Moody, 50, is based in Hertfordshire.

Susan'smumAnn, 58, was a Craft manager. Ann, also from Cleland, said: "Mr Moody and some of the other bosses are meant to have been in the SAS but we never saw them."

Moody told us: "If you want to talk to me, talk to my lawyer."

[eggbird] 16/4/2009 15:38

any thoughts on the 550k trade at mid?
Im guessing it was a buy, as there have been a fair few trades at or below mid today, including mine from this morning

[teasle] 16/4/2009 12:51

The last 100,000 trade was a buy in fact - it was mine.

[culford] 16/4/2009 08:49

these companies trade at 40%-60% of revenues....post these two acquisitions sectorguard should have c£70m of revenue and a market value of £28m-£42m.....current market cap is c£8m......suggests price should rise to >3p once market realises how these two acquisitions have transformed the company.....

[pre] 16/4/2009 08:31

acquisitions of contract worth £10m per annum....very intertesting....

[eggbird] 16/4/2009 08:26

More good news:

RNS Number : 6369Q
SectorGuard PLC
16 April 2009

?
SectorGuard Plc


Acquisition of new contracts


Highlights:
* Acquisition of contracts worth GBP10m per annum for a total cash consideration
of GBP99,000
* Contracts acquired from administrators of Craft Services Group
* Acquisition makes SectorGuard a top 10 provider in UK manned guarding

SectorGuard plc has, through its 100% owned subsidiary Legion Services Limited,
acquired the contracts of Craft Services Group Limited (in administration) for a
consideration of GBP99,000. The contracts with an annual value of GBP10m provide
security and facilities services to shopping centres, property groups and
commercial organisations.


This addition further strengthens SectorGuard's market share within these
sectors following quickly on from the Legion Group plc acquisition.


Some 400 employees of Craft Services Group Limited have transferred (under TUPE
conditions) over to Legion Group plc along with a number of the management team.


SectorGuard plc is now a Top 10 provider of manned guarding within the UK and
has over 3,200 employees group-wide. The Company will continue with its
integration plan of both business units and has identified approximately GBP3m
of consolidation savings per annum in the process.


The integration process will be completed by the end of May 2009.


Mark Higgins, Chief Executive comments;


"We are pleased to have added this client portfolio and valuable workforce to
our business. The recent acquisitions have demonstrated SectorGuard's ability to
seek considerable value from a distressed market place.


The Board expects to continue to grow the Company both organically through its
strong long-term order book and will explore further opportunities to acquire
additional organisations to continue consolidating the market place.


The business model being adopted by the new Board of SectorGuard is ideally
suited to enhancing customer service and drive efficiencies thus adding to both
shareholder and stakeholder value"

[velvetide] 30/3/2009 07:54

RNS Number : 6584P
SectorGuard PLC
30 March 2009



Sector Guard plc

('SectorGuard' or the 'Company')







Appointment of General Sir Mike Jackson GCB CBE DSO DL as Non Executive Director




SectorGuard ('SectorGuard' or the 'Company'), the AIM listed provider of security and fire protection services which recently completed the acquisition of Legion Group Plc, is delighted to announce the appointment of General Sir Mike Jackson as a Non Executive Director of the Company with effect from 1 Apr 2009.




General Sir Mike (65) had a distinguished career in the British Army spanning some 45 years and is a former Chief of the General Staff of the British Army and Commander of the Nato Kosovo Force. General Sir Mike was awarded the MBE in 1979, the CBE in 1992, the CB in 1996, the KCB in 1998, the DSO in 1999 and the GCB in 2004.




Since retiring from the Army in 2006 General Sir Mike has taken up a number of consultancy and board positions. He is currently a senior advisor with PA Consulting Group and sits on the Rolls Royce International Advisory Board and has in the recent past held positions with Numis Securities and the Risk Advisory Group.




Charlie Cleverly, Managing Director of SectorGuard commented:




'We are delighted to welcome someone of the calibre of General Sir Mike to the Board. His breadth of experience and depth of knowledge will undoubtedly be a great addition to our Company, especially in light of the recent acquisition of Legion Group plc. We all look forward to working with General Sir Mike in the future development of the Company.'





General Sir Mike Jackson commented:




'I am very pleased to be joining the board at SectorGuard plc, especially at a time when the company has just acquired Legion Group plc. This is an exciting advance, and I look forward to helping the company continue its successful progress.'




30 March 2009




Enquiries:




SectorGuard
01992 701972

Mark Higgins, Chief Executive



Charlie Cleverly, Managing Director








Seymour Pierce
020 7107 8000

Jonathan Wright








College Hill
020 7457 2020

Nick Elwes







www.sectorguard.co.uk




Notes to Editors:



General Sir Mike Jackson GCB CBE DSO DL


General Sir Mike Jackson was commissioned from Sandhurst into the Intelligence Corps in December 1963; he studied for an in-service degree in Russian Studies from 1964 to 1967. After graduating, he spent two years on secondment to the Parachute Regiment and subsequently transferred from the Intelligence Corps in 1970. During the early 70s he served in Northern Ireland, and with the TA in Scotland.

He attended the Staff College in 1976, after which he spent two years as the Chief of Staff of the Berlin Infantry Brigade. He then commanded a parachute company for two years, once more in Northern Ireland.

After a six-month course at the National Defence College at Latimer in 1981, he joined the Directing Staff at the Staff College. His two-and-a-half-year tour at Camberley included a ten week attachment to the
Ministry of Defence during the Falklands conflict.


He commanded 1st Battalion, The Parachute Regiment from March 1984 to September 1986. Throughout his period of command the Battalion was part of the NATO Allied Command Europe Mobile Force (Land), a role which included three winters spent in Norway on arctic training.


For just over two years, until the end of 1988, he was the Senior Directing Staff (Army) at the Joint Service Defence College, Greenwich. Following the Higher Command and Staff Course at Camberley in early 1989, he then spent six months on a Service Fellowship at Cambridge writing a paper on the future of the British Army.


He moved back to Northern Ireland in late 1989 to command 39 Infantry Brigade for two and a half years. 1992 and 1993 were spent in the Ministry of Defence as Director General Personnel Services (Army). He commanded the 3rd (United Kingdom) Division from March 1994 to July 1996. In August 1995 he was selected to assume command of UNPROFOR in Bosnia at the end of that year; in the event, however, after the success of the Dayton talks, he spent the first half of 1996 in Bosnia commanding IFOR's Multinational Division South West. He assumed the appointment of Commander ACE Rapid Reaction Corps in the rank of Lieutenant General in February 1997, following a brief assignment as Director General Development and Doctrine.


He deployed with ARRC HQ as Commander Kosovo Force to Macedonia in March 1999 and subsequently commanded Kosovo Force in Pristina from June to October 1999. He assumed the appointment of Commander in Chief Land Command on 1 March 2000. He assumed the appointment of Chief of the General Staff on 1 February, and left office on 29 August 2006.




General Sir Mike Jackson was awarded the MBE in 1979, the CBE in 1992, the CB in 1996, the KCB in 1998, the DSO in 1999 and the GCB in 2004.




AIM Rules disclosures:




General Sir Mike Jackson is currently a director of Saddleback Corporation Limited and, in the past five years, has been a director of Silk Route Resources Limited, The Risk Advisory Group (Holdings) plc and Benchmark Search Group Ltd.


This information is provided by RNS
The company news service from the London Stock Exchange

END


BOASEWFWWSUSEFD

[joey_the_lips] 17/3/2009 15:51

This is looking good. Mostly sells but they are all being soaked up by the MMs and at rising bid prices. Bid quoted at 1.5p but actual sells going through at 1.6p. To me that looks like there are some buys waiting to be filled. If this carries on we will soon by above 2.0p and punters will start piling in. I need 2.0p to break even but having held for several years will hold on for at least 100% profit. 4.0p? Bring it on!

[ted32] 17/3/2009 12:32

eugene

Because sgd is building a very firm foundation and from here it can only go upwards.

Sorry about the ramping.

[eugene1234] 17/3/2009 10:35

I wonder why these fools and myself are buying?????

[only1buster] 17/3/2009 09:10

the £1million loan from mark higgins is repayable either in cash or in shares at a price of 1p each which if exercised in shares together with the recent placing will cause significant dilution to excisting holders - at this rate it will be a long wait for the shares to regain the dizzy hights of 4p !

[ted32] 16/3/2009 15:12

Perhaps the directors were in on the placing at 1p

[substp] 16/3/2009 14:28

who cares ?

[eugene1234] 16/3/2009 14:27

might we have directors buying?

[blackfox] 13/3/2009 16:39

substp, you hit the nail on the head. Now watch the company taken out on the cheap, or go into administration with the lender and others picking up most of it for nothing.

[substp] 13/3/2009 08:46

It looks and feels like another AIM con ...... :-(

[only1buster] 11/3/2009 19:01

although current holders will suffer a 50% dilution with the new issue of shares, sgd the enlarged group should produce a turnover for year 2009-2010 of 60 million - a 100% increase in turnover and a profit at a consrvative 15%, of 9 million - a very good chance of divi restoration and begin to push higher into the top 20 sucurity companies - becoming a nuiseince to larger rivals will attract a takeover bid - sgd seems to me to be definately moving in the right direction.

[eugene1234] 11/3/2009 18:40

thehoops16 - Who published the article you posted above? Was it you?

[thehoops16] 11/3/2009 17:21

Security specialist SectorGuard has geared itself up to buy Legion Group, the oldest parking services and security group in the UK.

The company said the deal was an excellent opportunity for it to acquire an iconic brand with an impressive portfolio of work that increased its market penetration and opened up new opportunities.

Legion is a wholly-owned subsidiary of the Royal British Legion Attendants Company Trust (RBLACT), a registered charity that was set up in 1923 with the aim of promoting employment opportunities to ex servicemen and women.

These days it is a major provider of manned guarding and CCTV monitoring services to the public and private sectors with a long established history in parking services. Last year it posted a turnover of £27.5 million, with a 17% gross profit, and currently employs around 1,200 licensed security personnel and 200 car park and traffic operatives.

SectorGuard is paying a nominal initial consideration of £1 to buy the business and will pay RBLACT £100,000 per year over the next ten years.

In an effort to ease the integration of the Legion business, SectorGuard has raised £0.98 million in a share placing and secured a £1 million loan from its chief executive, Mark Higgins.

Higgins said the deal should generate significant shareholder and stakeholder value once the integration is completed. "We are very excited to announce this milestone event for SectorGuard," he said.

[thehoops16] 11/3/2009 17:20

bargain - theres money to be made

[eugene1234] 11/3/2009 16:09

over 1m shares bought, why?

[joey_the_lips] 11/3/2009 12:52

I'd like to be able to but that many shares at 1p. What a rip-off that is!

[substp] 11/3/2009 08:09

What a load of twaddle !...... :-(

All of that money for intergration .......

[eugene1234] 11/3/2009 07:10

11 March 2009




Enquiries:




SectorGuard
01992 701972

Mark Higgins, Chief Executive



Charlie Cleverly, Managing Director








Seymour Pierce
020 7107 8000

Jonathan Wright








College Hill
020 7457 2020

Nick Elwes







www.sectorguard.co.uk







About Legion

Legion Group plc is the UK's oldest established parking services and security services group and a leading provider of manned guarding and CCTV monitoring services to the public and private sectors. Legion provides civil parking enforcement services and car park management services to local authorities, shopping centres, retail parks and private organisations nationwide. Legion has nine offices nationwide.




For the year ended 30 September 2008, Legion had a turnover of £27.5 million with a gross profit of £4.5 million and overheads of £5.5 million.




Legion is unique in providing both security services and parking services. Through its subsidiary company, Legion Technologies Ltd, Legion is the single point of contact for access to an extensive range of bundled services utilising today's most advanced technology, including sophisticated electronic access control systems, portable perimeter protection, covert tracking technology and lone worker protection. By combining the services of Legion's experienced officers and world-class technology, Legion is able to offer innovative, fully integrated solutions designed to meet clients' specific requirements




Legion's national workforce of approximately 1,400 fully trained and, where necessary, licensed officers is dedicated to providing the highest levels of customer service. Legion has accredited training programmes for manned guarding, CCTV monitoring and parking services personnel to ensure that all staff are fully updated on current legislation, industry best practice and the latest technological advances.




Legion Group plc is a wholly-owned subsidiary of the RBLACT, a registered charity with the aim of promoting employment opportunities for ex servicemen and women.




Legion is a Security Industry Authority approved contractor.







Rationale for the transaction

The security market has seen widespread changes in the last six months resulting in security companies needing to provide a more balanced portfolio of services as well as client focussed approach. The enlarged group will provide a greater breadth of services and this, combined with the improved internal model which is focussed on client support, will enable the enlarged group to compete more effectively in the security market.




The parking enforcement element of the Legion portfolio provides in excess of 200 staff and siginificant access to a wider market place for the combined business.




The enlarged group will retain the Legion name and brand whilst using the SectorGuard model to improve the client service and efficiencies which have been developed and implemented by the new SectorGuard team in the last three months.







Details of the Acquisition, the Placing and the Loan from Mark Higgins

SectorGuard has agreed to acquire the entire issued share capital of Legion for an initial consideration of £1. In addition, the Company will also pay a sum of £100,000 per year for ten years to the RBLACT.




The Company is also raising approximately £1.98 million before expenses through a placing of 197,925,400 shares at 1p per share.




Mark Higgins, CEO of SectorGuard has also agreed to provide the Company with a loan of £1 million. The Loan is for a maximum term of three years, but is repayable in cash at the Company's option at any time after 18 months or repayable, by agreement between the Company and Mark Higgins, at any time by the issue of ordinary shares in the Company equal to the then outstanding balance at an issue price of 1p per share. The Loan attracts interest at 3 per cent. above 3-month LIBOR.




The Loan from Mr Higgins and the net proceeds of the placing will be used to assist in the successful integration of Legion with the Company.




The integration of the two companies is expected to take approximately six months to complete.




Manguard additional consideration

Pursuant to the terms of the agreement by which SectorGuard acquired Manguard plc from Mark Higgins in 2008, additional cash consideration is payable in 2009 and 2010 dependant on the Manguard business achieving certain levels of turnover and gross profit.




The independent directors of SectorGuard have determined that at least £1.3 million of the maximum £1.5 million of the first year additional payment will become due to Mr Higgins.




The Company has agreed with Mark Higgins that the additional consideration due in 2009 shall be converted into loan notes on broadly the same terms as those relating to the Loan mentioned above save that the Loan Notes become due and payable in cash on the later of 1 September 2010 and 3 months from the date of issue of the relevant Loan Notes. In consideration for Mark Higgins taking the Loan Notes, the Company has agreed to issue £1m of the Loan Notes earlier than the corresponding amount of additional cash consideration that would otherwise be due on 4 May 2009.




Furthermore, the Loan Notes may be repaid at any time by agreement between the Company and Mark Higgins, if repayment is made by the issue of shares in the Company. The issue price of such shares will be 1p per share.




It is the intention of the Company to call a General Meeting of the Company shortly to increase (if appropriate) the authorised share capital of the Company, to authorise the directors to allot relevant securities pursuant to section 80 Companies Act 1985 and to disapply pre-emption rights in so far as may be necessary to allow the Company to satisfy all or part of the Loan and/or the Loan Notes by the issue of new ordinary shares in the Company and in order to restore the headroom in the number of shares available for issue.




Each of the Loan, the issue of the Loan Notes and the early payment of the additional consideration referred to above are related party transactions pursuant to the AIM Rules. The independent directors of SectorGuard, Stephen Thomas and Charlie Cleverly, having consulted with Seymour Pierce, consider that the terms of the Loan Notes and the early payment of the additional consideration are fair and reasonable insofar as shareholders are concerned.




Application will be made for the admission of 197,925,400 new ordinary shares to trading on AIM and admission is expected to occur on 16 March 2009. Following admission, SectorGuard will have 593,776,248 ordinary shares in issue each carrying one voting right.