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Share Price: 42.50

Bid: 41.00

Ask: 44.00

Change: 0.00 (0.00%)

Spread: 3.00 (7.317%)

Open: 42.50

High: 42.50

Low: 42.50

Prev. Close: 42.50

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Shearwater Replaces Boss With Insider, Expects Widened Loss

Fri, 12th Apr 2019 17:38

LONDON (Alliance News) - Shearwater Group PLC on Friday said that following a restructuring of the business Chief Executive Officer Michael Stevens will step down from the board with immediate effect.

Stevens will be replaced by Executive Director Phil Higgins who has immediately been named CEO.

For the year ended March 31, the company expects its loss before interest, taxes, depreciation and amortisation to be around GBP1.6 million, widened from GBP1.0 million a year ago.

Revenue meanwhile, is guided up to GBP23.5 million from GBP6.4 million.

Cash as at the March end was GBP600,000.

Shearwater added that is expected that its current financial year with see "significant growth." This was after its largest acquisition to date - Brookcourt Solutions - continued to trade in line with management expectations.

Shares in the software company closed up 17% at 1.75 pence each.

More News

28 Jun 2010 10:05

CORRECT:2nd UPDATE:Scott Wilson Agrees GBP161M Takeover By URS Corp

("=2nd UPDATE: Scott Wilson Agrees GBP161M Takeover By URS Corp," at 0853 GMT, misstated the name of the broker in the eleventh paragraph. The correct version follows:) By Jason Douglas Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Engineering consultant Scott Wilson Group PLC (SWG.LN) sa

28 Jun 2010 09:30

UK SMALLCAP ROUNDUP: Scott Wilson Agrees GBP161M Takeover

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps SCOTT WILSON GROUP PLC (SWG.LN), an engineering consultancy, said Monday it agreed a GBP161 million takeover by U.S. peer URS Corp. (URS), but a second f

28 Jun 2010 08:19

UPDATE: Scott Wilson Agrees GBP161 Mln Takeover By URS Corp

(Adds detail on possible competing offer). By Jason Douglas Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Engineering consultant Scott Wilson Group PLC (SWG.LN) said Monday it agreed a GBP161 million ($242 million) takeover by U.S. peer URS Corp. (URS), but a second firm said it is consider

28 Jun 2010 07:46

Scott Wilson Agrees GBP161 Mln Takeover By URS Corp

LONDON (Dow Jones)--Engineering consultant Scott Wilson Group PLC (SWG.LN) said Monday it agreed a GBP161 million ($242 million) takeover by U.S. peer URS Corp. (URS). URS said the deal expands its operations in the U.K. and its reach overseas. URS has offered to acquire Scott Wilson for 210

28 Jun 2010 07:05

PRESS RELEASE: URS Acquisition Offer Recommended -2-

and renew contracts and projects; liquidated damages; our dependence on partners, subcontractors and suppliers; customer payment defaults; our ability to recover on claims; impact of target and fixed priced contract on earnings; the inherent dangers at our project sites; impairment of our goodwill;

28 Jun 2010 07:05

PRESS RELEASE: URS Acquisition Offer Recommended by Scott Wilson

$242 Million Cash Transaction Significantly Expands URS' Presence in U.K. Infrastructure Market and Deepens Worldwide Capabilities Transaction Expected to be Accretive to URS' GAAP EPS in Fiscal 2011 SAN FRANCISCO--(BUSINESS WIRE)--June 28, 2010-- URS Corporation (NYSE: URS) and Scott Wilso

28 Jun 2010 07:00

Urs Corporation Recommended Cash Offer For Scott -15-

28 Jun 2010 07:00

Urs Corporation Recommended Cash Offer For Scott -14-

28 Jun 2010 07:00

Urs Corporation Recommended Cash Offer For Scott -13-

28 Jun 2010 07:00

Urs Corporation Recommended Cash Offer For Scott -12-

+--------------------+----------------------+--------------------+ | Hugh Blackwood | 696,358 | 0.95 per cent. | +--------------------+----------------------+--------------------+ | Sean Cummins | 10,000 | 0.01 per cent. | +--------------------+----------

28 Jun 2010 07:00

Urs Corporation Recommended Cash Offer For Scott -11-

28 Jun 2010 07:00

Urs Corporation Recommended Cash Offer For Scott -9-

1. The Offer will, if it is implemented by way of the Scheme, be conditional upon the Scheme becoming unconditional and becoming effective, subject to the City Code, by not later than 29 October 2010 or such later date (if any) as URS, Universe Bidco and Scott Wilson may, with the consent o

28 Jun 2010 07:00

Urs Corporation Recommended Cash Offer For Scott -10-

context of the Wider Scott Wilson Group taken as a whole, in: (i) any assets or interests of any member of the Wider Scott Wilson Group being or falling to be disposed of or charged in any way or ceasing to be available to any member of the Wider Scott Wilson Group or any right arising under w

28 Jun 2010 07:00

Urs Corporation Recommended Cash Offer For Scott -8-

arrangement is not subject to the proxy solicitation or tender offer rules under the US Exchange Act. Accordingly, the Scheme is subject to the disclosure requirements and practices applicable in the UK to schemes of arrangement which differ from the disclosure requirements of the United States ten

28 Jun 2010 07:00

Urs Corporation Recommended Cash Offer For Scott -7-

information contained in this Announcement. Appendix III to this Announcement provides details of the irrevocable undertakings received by URS. Appendix IV to this Announcement contains definitions of certain terms used in this Announcement. In accordance with Rule 19.11 of the City Code, a copy o

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