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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

1 Jul 2010 06:52

CH2M HILL Drops Scott Wilson Pursuit After URS Ups Offer

LONDON (Dow Jones)--U.S. engineer CH2M HILL Cos. Ltd. said late Wednesday it dropped its offer to acquire peer Scott Wilson Group PLC (SWG.LN), after rival bidder URS Corp. (URS) raised its offer for the U.K. firm. URS raised its offer for Scott Wilson Wednesday to 290 pence a share, valuing the

30 Jun 2010 18:39

URS Raises Bid For Scott Wilson Group To Top CH2M HILL's Offer

DOW JONES NEWSWIRES URS Corp. (URS) raised its bid for U.K. engineering consultant Scott Wilson Group PLC (SWG.LN) to 290 pence a share Wednesday, a day after U.S. engineering firm CH2M HILL Cos. Ltd. topped URS's earlier offer. CH2M said Tuesday that it offered to buy Scott Wilson for 245

30 Jun 2010 18:21

PRESS RELEASE: URS Increases Offer to 290 Pence Per Share for Scott Wilson Group

Cash Transaction Now Would Be Valued at $337 Million Transaction Expected to be Accretive to URS' GAAP EPS in Fiscal 2011 SAN FRANCISCO--(BUSINESS WIRE)--June 30, 2010-- URS Corporation (NYSE: URS) today announced the terms of an increased offer to acquire Scott Wilson Group plc. (LSE: SWG)

30 Jun 2010 17:42

Scott Wilson accepts 290p bid from URS

Scott Wilson has recommended an increased cash offer of 290p a share from URS Corporation just a few hours after the US outfit was rebuked by the Takeover Panel for only indicating it may increase its bid. The offer for the British design and engineering consultancy, worth £223m, beats the 245p a s

30 Jun 2010 17:24

Urs Corporation Recommended Increased Cash Offer For Scott Wilson

TIDMSWG RNS Number : 5850O URS Corporation 30 June 2010 ? NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION 30 June 2010

30 Jun 2010 17:24

Urs Corporation Recommended Increased Cash Offer -4-

In accordance with normal UK practice and pursuant to Rule 14e-5(b) of the US Exchange Act, Universe Bidco or its nominees, or its brokers (acting as agents), may from time to time make certain purchases of, or arrangements to purchase, Scott Wilson Shares outside of the United States, other than pu

30 Jun 2010 17:24

Urs Corporation Recommended Increased Cash Offer -3-

| Greenhill (financial adviser to Scott Wilson) | +-------------------------------------------------------------------+ | David Wyles | +44 (0) 20 7198 7400 | | Ben Loomes | +44 (0) 20 7198 7400 | |

30 Jun 2010 17:24

Urs Corporation Recommended Increased Cash Offer -2-

6. Structure of the Increased Offer It is intended that the Increased Offer will be implemented by Universe Bidco, a wholly-owned subsidiary of URS and effected by way of a court-sanctioned scheme of arrangement between Scott Wilson and the Scheme Shareholders under Part 26 of the 2006 Act.

30 Jun 2010 16:00

UK SMALLCAP ROUNDUP: Resaca Exploration Shelves Share Sale

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 RESACA EXPLOITATION INC. (RSOX.LN), an oil and gas company, said Wednesday it postponed a planned share issue due to market conditions. Resaca planne

30 Jun 2010 13:22

Scott Wilson bidder rapped by Panel

URS, one of the potential bidders for Scott Wilson, has been told off for breaching takeover rules after it indicated it might raise its offer for the engineering consultant. URS said it could lift its current offer of 210p per share to 245p, but the takeover code says "an offeror must not make a s

30 Jun 2010 12:30

UK SMALLCAP ROUNDUP: HMV Strategy On Track Amid Record Sales

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 HMV GROUP PLC (HMV.LN) Wednesday said its strategy of diversifying its business away from CDs and DVDs remains on track, although the CD market didn't de

30 Jun 2010 09:30

UK SMALLCAP ROUNDUP: Scott Wilson Bidder URS Gets Deadline

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), a U.K. engineering consultant, Wednesday said its board will give its recommendation to shareholders on the company's bi

30 Jun 2010 08:51

Scott Wilson Bidder URS Gets Bid Deadline From Takeover Panel

LONDON (Dow Jones)--U.K. engineering consultant Scott Wilson Group PLC (SWG.LN) Wednesday said its board will give its recommendation to shareholders on the company's bidding war Thursday after the U.K. Takeover Panel set a deadline for a revised offer from U.S. firm URS Corp. (URS). U.S. engine

30 Jun 2010 07:16

Takeover Panel: Universe Bidco Must Raise, Withdraw Scott Wilson Bid By July 2

LONDON (Dow Jones)--The U.K. Takeover Panel said Wednesday that Universe Bidco must announce no later than 0630 GMT on July 2 either an increased offer for Scott Wilson Group PLC (SWG.LN) of 245p per share, or above, or that it wont' be increasing the terms of its offer of 210p per share announced J

30 Jun 2010 07:01

Takeover Panel Statement Re: Deadline For Universe Clarification

TIDMSWG RNS Number : 4780O Takeover Panel 30 June 2010 ? ? 2010/17 SCOTT WILSON GROUP PLC ("SCOTT WILSON") UNIVERSE BIDCO LIMITED (A WHOLLY-OWNED SUBSIDIARY OF URS CORPORATION) ("UNIVERSE BIDCO") CH2M HILL STAR HOLDINGS LIMITED (A

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