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ServicePower board recommends Diversis cash offer

Thu, 08th Dec 2016 16:36

(ShareCast News) - Diversis and ServicePower jointly announced on Thursday the terms of a recommended cash offer to be made by Diversis for the entire issued and to be issued share capital of ServicePower by way of a contractual offer under the Takeover Code.Under the terms of the offer, ServicePower shareholders would be entitled to receive 6p in cash for each ServicePower Share held.The offer price represented a premium of around 129%. to the closing price per ServicePower share of 2.625p on 21 November.It also represented a premium of 110% to the three month average closing price per ServicePower Share of approximately 2.85p.The offer valued the entire issued share capital of ServicePower at approximately £13.65m.ServicePower's board of directors, as advised by finnCap, said they considered the terms of the offer to be fair and reasonable, and so unanimously agreed to recommend that shareholders accept the offer."As the business and our clients' needs have continued to evolve, the board has given much thought about how best it advances the business," said ServicePower chairman Hugh Fitzwilliam-Lay."I am confident that this transaction will allow ServicePower's business to grow and better serve both its customers and employees."Ron Nayot, a director of Diversis said his company was excited about the acquisition of ServicePower and to partner with the current management team to build on its software suite."Going forward, we plan to invest further in the development of all areas of the software suite to deliver the best possible experience for customers."
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5 Mar 2014 12:04

ServicePower sparks on big Electrolux deal

Shares in field management specialist ServicePower continued their strong run on news that Electrolux had begun a multi-year year contract that is expected to deliver 'significant revenues'. The appliance manufacturing giant has used ServicePower's ServiceMarket software since January 2013 and has

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5 Mar 2014 11:54

REPEAT: UK WINNERS & LOSERS: Admiral Group Motors Leads Blue-Chip Gainers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.

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FTSE 100 - WINNERS

Admiral Group, up 7%. The motor insurer reported a 7% increase in 2013

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5 Mar 2014 11:51

UK WINNERS & LOSERS: Admiral Group Motors To Lead Blue-Chip Gainers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.

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FTSE 100 - WINNERS

Admiral Group, up 7%. The motor insurer reported a 7% increase in 2013

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5 Mar 2014 09:47

ServicePower Technologies Wins Contract With Electrolux

LONDON (Alliance News) - ServicePower Technologies PLC said Wednesday that it had signed a multi-year contract with AB Electrolux Home Appliances which it expects to deliver significant revenue. Electrolux, part of Sweden's Electrolux AB, has used ServicePower's ServiceMarket software since

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27 Jan 2014 12:46

UK MIDDAY BRIEFING: Stocks Falling Again, Vodafone, BG Group Lead Way

LONDON (Alliance News) - The global equities sell-off has continued Monday ahead of the Federal Reserve's next decision on whether to knock a further slice off its economic stimulus package, while negative news about Vodafone and BG Group are also weighing hea

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27 Jan 2014 11:33

UK WINNERS & LOSERS: Ofwat Lifts Severn Trent, United Utilities

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.

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FTSE 100 - WINNERS

Severn Trent, up 1.5%, and United Utilities, up 0.9%. The gains follow th

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27 Jan 2014 09:20

ServicePower Technologies Wins Two Contract Extensions For USD750,000

LONDON (Alliance News) - ServicePower Technologies PLC said Monday it won two contract extensions for a total of USD750,000 with two existing customers. The software systems company said that both contracts were signed at the end of 2013, and revenues would be recognised in the current year

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22 Jan 2014 13:43

UK MIDDAY BRIEFING: Jobless Rate Falls As UK Recovery Continues

LONDON (Alliance News) - The unemployment rate in the UK declined by more than expected in the three months to November 2013, leading to calls for renewed clarity around forward guidance from Bank of England Governor Mark Carney. Meanwhile, minutes from the BOE's latest Monetary Policy Committ

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22 Jan 2014 10:56

UK WINNERS & LOSERS: Sage Group Leads Blue-Chip Gainers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.

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FTSE 100 - WINNERS

Sage Group, up 4.9%. The business-management software company has reve

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22 Jan 2014 09:41

ServicePower Technologies Gain As It Sees Strong Revenue Growth

LONDON (Alliance News) - Shares in ServicePower Technologies PLC rose Wednesday after it said that it had seen strong revenue growth during the year ended December 31, 2013, due to new contracts and client renewals. The software company said it expects revenue of GBP14.0 million, up more th

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20 Nov 2013 17:39

MARKET COMMENT: UK Stocks Close Mixed, Markets Await FOMC Minutes

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20 Nov 2013 12:05

UK WINNERS & LOSERS: Aberdeen Gains Some More, Barclays Likes Barratt

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20 Nov 2013 09:50

ServicePower raises expectations as revenues rocket

Shares in ServicePower Technologies bounced back from recent lows on news that strong growth was expected to continue through the year end. A trading update from the AIM-listed field service management said revenue at the end of October had already surpassed the prior year's with two months remaini

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20 Nov 2013 08:27

ServicePower Technologies Shares Soar As Strong Growth Continues

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20 Nov 2013 07:52

AIM IN BRIEF: Rangers FC Appoints Graham Wallace As CEO

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