Hss Hire Share Price (HSS)

Share Price: 9.08..Bid: 8.60...Ask: 9.48...Change: -0.01 (-0.11%) ...Spread: 0.88 (10.233%)

Proservice Bldg Share Price (PRO)

Name change ProService Building Services Marketplace Plc.

There is currently no data for HSS , on this BB.

ISA & ( W )

And a 7.7 mill there.

Unknowns in the list today, besides a few smaller amounts

Have the SP rose fizzled out??

Gla

Before any deal in their accounts they have written of 113 million of fleet and goodwill value, this left a negative balance sheet (c20m) for the group after intangibles removed. The halving of the value of the fleet on the balance sheet is pretty shocking.

They have now accepted a net of 9 million (+35 million from speedy, -26 million to encourage pe to buy the operations side) to be left with zero physical assets, a further discount on the fleet value on the balance sheet.

It very much depends on the remaining balance sheet, I think the 40 million loan will remain (they say this a material uncertainty), with no physical assets against it as the company is now simply a broker, so I am assuming the company left to shareholders will still have a negative balance sheet. The leases obligations (c30mil) will I think largely go with the operations side and be moved off the Hss group balance sheet.

The success of this will also largely depend on whether the competition authority get involved and probably more importantly whether suppliers start suspending credit lines. Although they can use Speedy for a chunk of their rehire, in some areas (excavators, large plant, access) they have a big requirement on other suppliers.