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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sirvis | LSE:SRV | London | Ordinary Share | GB00B23PRH18 | ORD 40P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 160.00 | 0.00 | 01:00:00 |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 160.00 | GBX |
Sirvis It (SRV) Share Charts1 Year Sirvis It Chart |
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Posted at 11/2/2008 07:51 by hotfinance14 SiRViS IT PLC11 February 2008 SiRViS IT plc Interim results for the six months ended 30 November 2007 SiRViS IT plc ('SiRViS IT' or the 'Company'), which provides a range of IT services including support, consultancy and systems installation across the UK, announces its interim results for the six months ended 30 November 2007. Highlights Basis of reporting Results reported are prepared based on the recognition and measurement principles of the International Financial Reporting Standards (IFRS) for the first time; comparatives have been restated. Revenue up 51% to £5.3m (2006: £3.5m) Operating profit before share based payments, amortisation of intangible assets and exceptional items up 32% to £577,000 (2006: £437,000) Statutory operating profit up to £518,000 (2006: 183,000) Acquisition of Technology Management Group Ltd in May 2007, fully integrated in July 2007 Adjusted earnings per share before share based payments, amortisation of intangible assets and exceptional items up 6% to 12.02p (2006: 11.32p) Recurring revenues percentage to turnover 80% (2006: 80%) Share consolidation (1 new ordinary share for every 40 existing shares) effective September 2007 |
Posted at 09/10/2007 06:28 by hotfinance14 Received a new share certificate today....consolidati |
Posted at 11/9/2007 15:18 by tiltonboy I bought 25000 and moved the price.WINS did the earlier business, with both sides of the trade done at the same price. MM's all want some of the action but can't find stock. tiltonboy |
Posted at 03/9/2007 10:50 by tiltonboy Looking at the brokers forecasts the shares are still too low. I tried to buy stock at around 3.25p, but found them very well bid, even on a bad day. There were some meaty buyers around at the time.If they deliver on forecasts then I think you could justify a price double this, but the company has been accident prone in the past, and it may take some time to get a market rating. tiltonboy |
Posted at 31/7/2007 10:49 by johnyee7 After share consolodation they'll only have 3.3 million shares in issue. |
Posted at 30/7/2007 08:22 by mjcrockett Yes, good results, but no reaction from the share price. The shares seem very cheap to me.MJ |
Posted at 12/6/2007 12:18 by hotfinance14 SiRViS IT plcSIGNIFICANT SHAREHOLDER NOTIFICATION SiRViS IT plc was informed on 6 June 2007 that Universities Superannuation Scheme Ltd now holds 7,490,448 ordinary shares of 1p each, representing 5.67% of the issued ordinary share capital. 12 June 2007 |
Posted at 22/12/2006 10:43 by hotfinance14 SiRViS IT PLC20 December 2006 SiRViS IT plc (the 'Company') Holdings in Company Dated: 20 December 2006 The Company received notification on 15 December 2006 that Barnard Nominees Limited currently holds 14,563,920 Ordinary Shares of 1p each in the capital of the Company, representing 12.77% of the issued share capital of the Company. Enquiries: Mark Lewis 01773 825516 SiRViS IT plc Chief Executive John Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated Adviser This information is provided by RNS The company news service from the London Stock Exchange |
Posted at 11/12/2006 19:51 by orange1 Receipt of an approachDate: 11 December 2006 SiRViS IT plc (the "Company") announced earlier today that it is in receipt of an approach from K3 Business Technology Group PLC ("K3") to acquire the Company at an indicative cash price of 4p per share, subject to a variety of pre-conditions and assumptions. The announcement was made with the approval of the Board of the Company, but was not made with the agreement or approval of K3. There can also be no certainty that an offer will be made nor as to the terms on which any offer might be made. |
Posted at 23/11/2006 11:38 by tp100 SiRViS IT PLC23 November 2006 SiRViS IT plc Proposed Acquisition of Technology Management Group Limited and related Proposals Date: 23 November 2006 The Board of SiRViS IT plc ('the Company' or SiRViS IT) which provides a range of IT services including support, consultancy and systems installation across the UK is pleased to announce that on 23 November 2006, the Company entered into an agreement to acquire the issued share capital of Technology Management Group Limited ('TMG'), a company that offers a range of contracted IT infrastructure services. The aggregate consideration for the acquisition is approximately £2.1 million, which will be paid in cash. The acquisition and associated costs will be funded by a placing to raise £2.2 million with Oryx International Growth Fund Limited, a discretionary investment management client of North Atlantic Value LLP. The acquisition is conditional, inter alia, on the Takeover Panel granting a waiver under Rule 9 of the Takeover Code for the placing and on shareholders approving the waiver in general meeting. Further details of the acquisition and the waiver are set out below. Subject to the grant of the waiver referred to above, the Proposals will be set out in a circular to be sent to shareholders of the Company which will provide information on the Proposals and recommend all shareholders to vote in favour of the resolutions to be proposed at the Extraordinary General Meeting. The Proposals to be set out in the circular will include, inter alia, a share consolidation, grant of new options and a reduction in the share premium account to enable the Company to pay dividends out of future profits. The circular is expected to be dispatched to shareholders shortly. Highlights SiRViS IT to acquire TMG for approximately £2.1 million in cash; proposed fund raising of £2.2million (before expenses) via a placing of New Shares with Oryx International Growth Fund Limited; it is proposed that Christopher Mills, a director of J O Hambro Capital Management Group Limited and of Oryx International Growth Fund Limited, joins the Board; share consolidation on a 1 for 10 basis; following the share consolidation, at the placing price of 30p per New Share, the Enlarged Group will be capitalised at approximately £5.6 million; and current trading remains in line with market expectations. TMG offers a range of IT services including an IT helpdesk and managed services for small to medium sized enterprises and larger organisations nationwide. The Directors believe that the acquisition of TMG should enable the Group to increase recurring income from the provision of IT services to new and existing market sectors and enhance the Group's gross margins. Information on TMG The business TMG was established in 1983 following a management buy-out of the services division of Hamilton Rentals. The management buy-out was led by Bob Brittaine, the current Managing Director, who controls 49.9% of the issued share capital of TMG. TMG offers a range of contracted IT infrastructure services including hardware maintenance, network management, software support, and remote system monitoring. It also provides consultancy and project management services, such as software rollouts and upgrades as well as product sales for its customer base. TMG has also built successful relationships with leading technology companies and has major accreditations. Customer profile TMG has established contracts with a number of blue chip customers, enabling it to have visibility of future revenue streams. TMG's blue chip customers cover a variety of market sectors across the UK. As at the end of August 2006 the top 5 customers and the top 20 customers account for approximately 60% and approximately 85% respectively of the contracted maintenance base. Financial summary The financial information set out below is extracted from the audited statutory financial statements of TMG and its subsidiaries for three years ended 30 November 2003, 2004 and 2005 and the audited non-statutory financial statements for the nine months ended 31 August 2006. Placing In order to fund the Acquisition and associated costs the Company is proposing to raise £2.2 million by way of the Placing of 7,406,666 New Shares with Oryx International Growth Fund Limited a discretionary investment management client of North Atlantic Value LLP at 30p per New Share (equivalent to 3p prior to the proposed share consolidation). The Placing Shares to be issued will represent 39.37 per cent of the Company's issued share capital as enlarged by the Proposals. The Placing Shares will be credited as fully paid in cash and will rank pari passu in all respects with the Existing Shares. The Placing will be conditional, inter alia, on the grant of the waiver of Rule 9 of the City Code by the Takeover Panel, the passing of the Resolutions at the EGM, completion of the terms of the Acquisition Agreement and Admission of the Placing Shares to AIM. Current trading The SiRViS IT Group Trading in the first four months of the current financial year has continued the positive trends established in the last quarter of the previous financial year and the improvements in margin achieved in that period has been maintained. Trading accordingly remains in line with market expectations and the Directors look forward to the remainder of the financial year with confidence. TMG Trading since 31 August 2006 has been in line with TMG's current expectations and its pipeline of sales prospects remains positive. The Enlarged Group Following integration into the Enlarged Group, TMG is expected to contribute positively to the Enlarged Group results in the financial year to 31 May 2008. Prospects for the Enlarged Group The acquisition of TMG is part of the Group's strategy to develop the business by: acquisition of complementary businesses; further organic growth from the Group's enlarged customer base; and building on both companies reputation to attract new customers. Proposed non-executive Director Following completion of the Placing and Admission, Christopher Mills will join the Board. Christopher Harwood Bernard Mills Christopher Mills is a director of J O Hambro Capital Management Group Limited, is chief executive officer and investment manager of North Atlantic Smaller Companies Investment Trust Plc, a director and investment manager of Oryx International Growth Fund Limited and is a member and chief investment officer of North Atlantic Value LLP. He is also chief executive of American Opportunity Trust Plc. Prior to joining J O Hambro Capital Management Limited he worked from 1975 for Samuel Montagu Limited, Montagu Investment Management Limited, and its successor company, Invesco MIM, until 1993. He was a director of Invesco MIM and held positions as head of North American Investments and head of North American Venture Capital. In addition he is a director or a non executive director of numerous UK companies which are either now or have in the past five years been publicly quoted companies. Directors and employees share options It is proposed that the existing 5,889,574 Existing EMI Options granted to Directors and employees will be cancelled. However the Directors consider share options a necessary and important way of rewarding, retaining and attracting key Company personnel. Consequently it is proposed that the Directors be authorised to grant New Options over the authorised share capital of the Company in an amount not exceeding 1,881,330 New Shares. The Directors propose to grant the following New Options: 1. Mark Lewis be granted New Options to subscribe for 700,000 New Shares; and 2. Ian Bailey be granted New Options to subscribe for 700,000 New Shares. The balance of New Options to subscribe for 481,330 New Shares are to be granted to current and future employees of the Enlarged Group at the discretion of the Remuneration Committee. All New Options will, be granted at the prevailing market price in accordance with the rules of the scheme and the exercise of which will be subject to performance criteria approved by the Remuneration Committee. The Options over the New Shares expire ten years following the date of grant and will not normally be exercised for three years from date of grant. Concert Party In regard to the Placing on the terms set out in this document, the Panel has agreed that J O Hambro Capital Management Group Limited (a designated member of North Atlantic Value LLP), North Atlantic Value LLP (as investment manager to Oryx International Growth Fund Limited) and Oryx International Growth Fund Limited, are deemed to be acting in concert in connection with the Placing and that they are not acting in concert with any other party. Following Admission of the Placing Shares, the Concert Party will own in aggregate New Shares representing approximately 39.37 per cent of the Enlarged Share Capital. North Atlantic Value LLP is a part of J O Hambro Capital Management Group Limited and is the fund manager of Oryx International Growth Fund Limited. The City Code The Panel has been consulted by ARM Corporate Finance Limited on behalf of the Company to agree that it will not require the Concert Party, individually or collectively, to make a general offer for the shares in the Company which might otherwise arise as a result of the Placing, subject to the waiver of Rule 9 of the City Code being passed on a poll by the independent Existing Shareholders. Allotment of Placing Shares For the purposes of the Code and assuming that the Placing is duly completed, the Placing Shares are allotted and Admission becomes effective, the Concert Party only holdings in the Existing Shares and the New Shares are the 7,406,666 New Shares subscribed for by Oryx International Growth Fund Limited by way of the Placing, representing 39.37per cent of the Enlarged Groups issued share capital. Details of the proposed Share Consolidation For administrative convenience the Company proposes to reduce the number of shares in issue by consolidating its issued ordinary share capital on the basis of one New Share for every ten Existing Shares held at the Record Date. Reduction of Share Premium Account The Company wishes to be in a position to pay dividends on Ordinary Shares out of future profits. However, by reason of the provisions of the Companies Act 1985 it would be unable to do so without first eliminating the deficit on its profit and loss account. It is therefore proposed that the share premium account of the Company be reduced and the reserve produced by this reduction will, subject to the approval of the Court, be applied in eliminating the deficit on the Company's profit and loss account. While it is not envisaged by the Board that the conditions for the payment of dividends will arise until some time in the future, eliminating the deficit at this time is an important step and will enable the Company to pay dividends as profits become available. The reduction of share premium account requires the approval of shareholders by special resolution and in addition the approval of the High Court. Accordingly, as soon as practicable after the passing of this resolution, the Company intends to apply to the High Court for the reduction to be confirmed. Dividend Policy The Directors have resolved that as and when the profits of the Enlarged Group so permit, the Company will begin paying dividends out of such profits. Whilst initially dividends might be modest, the Directors intend to adopt a progressive policy subject always to the need to retain sufficient earnings to fund future growth. The Directors believe a commitment to a progressive dividend policy is supportive of good corporate governance and financial discipline. Admission to AIM Application for Admission will be made for the Consolidation Shares and the Placing Shares to be admitted to trading on AIM as soon as practicable following the Record Date. Extraordinary General Meeting In order to give effect to the Proposals the Resolutions need to be approved by Existing Shareholders in general meeting. A notice convening the Extraordinary General Meeting to be held at the offices of Taylor Wessing, Carmelite, 50 Victoria Embankment, Blackfriars, London, EC4Y 0DX will be included in the Circular to be posted to Shareholders shortly. Recommendation The Directors consider that the net proceeds of the Placing, estimated to amount to £1.94 million after expenses, are essential to provide the necessary working capital for the Group to acquire TMG and to provide a sufficiently strong financial base from which to continue to build the business and enable it to move forward successfully in the future. The Directors, who have been advised by ARM Corporate Finance Limited, consider the terms of the Proposals and the Waiver of the obligations under Rule 9 of the Takeover Code to be fair and reasonable so far as Existing Shareholders as a whole are concerned. In providing advice to the Directors, ARM has taken into account the Directors' commercial assessment. The Directors will recommend Existing Shareholders to vote in favour of the Resolutions to be proposed at the EGM as they intend to do or procure to be done in respect of their own and their connected persons' beneficial shareholdings. Enquiries: Mark Lewis 01773 825516 SiRViS IT plc Chief Executive Ian Bailey 01773 825516 SiRViS IT plc Finance Director John Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated Adviser Updates on the Company's activities are regularly posted on its website www.sirvisit.co.uk This information is provided by RNS The company news service from the London Stock Exchange |
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