SMS.L Share News (SMS)

EARNINGS AND TRADING: Michelmersh profit up; Journeo wins bus deal

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on this week and Friday and not separately reported by Alliance News:

Smart Metering offer "unconditional" as shareholders support takeover

(Alliance News) - Smart Metering Systems PLC shareholders have satisfied the acceptance condition for a takeover offer from Kohlberg Kravis Roberts & Co LP, the latter announced on Friday.

IN BRIEF: Smart Metering investor group soften KKR bid stance

Smart Metering Systems PLC - Glasgow-based energy management services provider - Shareholders representing just under 18% of the company, including two founders, temper opposition to Kohlberg Kravis Roberts & Co LP takeover offer, which SMS backed in December. Funds advised by private equity firm Kohlberg Kravis Roberts & Co LP offered 955 pence in cash per SMS share, which gives a GBP1.3 billion equity value and GBP1.4 billion enterprise value to all of SMS. Primestone Capital LLP, together with Alan Foy and Steve Timoney, "remain disappointed" by the offer price but note interest in SMS elsewhere has been scarce.

IN BRIEF: Smart Metering Systems urges shareholders to take KKR offer

Smart Metering Systems PLC - Glasgow-based energy management services provider - Urges shareholders who have not done so to accept the takeover offer by Kohlberg Kravis Roberts & Co LP by the deadline date of March 24. KKR is an investment firm specialising in private equity, energy, infrastructure and real estate. KKR has so far received valid acceptances in respect of 41.3 million SMS shares, representing around 31% of the company's total share capital. KKR requires acceptances for shares carrying more than 50% of the voting rights of SMS in order to exercise the acceptance condition of its January takeover offer.

UK dividends calendar - next 7 days

Smart Metering Systems reports rise in recurring revenue

(Sharecast News) - Smart Metering Systems reported in a trading update on Thursday that its total meter and data assets index-linked annualised recurring revenue (ILARR) was £113.4m at the end of 2023, including an annual retail price index (RPI) adjustment.

KKR declares Smart Metering Systems takeover offer final; revenue up

(Alliance News) - Private equity funds advised by Kohlberg Kravis Roberts & Co LP on Thursday declared their takeover offer for Smart Metering Systems PLC final, saying the cash offer, which the Smart Metering has accepted, won't be increased.

UK shareholder meetings calendar - next 7 days

Smart Metering Systems adjourns takeover meetings to January 22

(Alliance News) - Smart Metering Systems PLC on Friday said it intends to adjourn the court and general meetings regarding its takeover by US private equity firm, Kohlberg Kravis Roberts & Co LP and its affiliates.

UK shareholder meetings calendar - next 7 days

UK dividends calendar - next 7 days

IN BRIEF: Smart Metering Systems shareholder group opposes KKR offer

Smart Metering Systems PLC - Glasgow-based utility connection, smart metering and energy management provider - Shareholders representing a 17.8% stake in SMS, including two founders, say they oppose the GBP1.4 billion takeover offer that the SMS board agreed to earlier this month. Funds advised by private equity firm Kohlberg Kravis Roberts & Co LP offered 955 pence in cash per SMS share, which gives a GBP1.3 billion equity value and GBP1.4 billion enterprise value to all of SMS. Primestone Capital LLP, together with Alan Foy and Steve Timoney, say they are "disappointed" with the offer price and intend to vote against it. Primestone has a 9.8% stake, with the two founders holding 8.1% via investment vehicles.

Smart Metering shareholder PrimeStone, founders to reject KKR deal

(Sharecast News) - Smart Metering Systems fell on Thursday after shareholder PrimeStone and the company's founders, Alan Foy and Steve Timoney, said they plan to oppose its £1.3bn acquisition by US private equity firm KKR.

LONDON BRIEFING: Hipgnosis Songs Fund delayed results show value fall

(Alliance News) - Stocks in London are expected to open lower on Thursday, in line with equity markets in Asia and New York.

LONDON MARKET MIDDAY: Stocks muted amid pre-US jobs data nerves

(Alliance News) - London's FTSE 100 was slightly lower early on Thursday afternoon, with the mood in global markets cautious as investors eagerly anticipate Friday's US jobs data.