SVR.L Regulatory News (SVR)

10 December 2015

ServicePower Technologies Plc

("ServicePower" or "the Company")

Repayment of Loan Facility

and Trading Update

ServicePower Technologies Plc (AIM: SVR), a market leader in mobile workforce management software, announces today that, on 15 December 2015, the Company will repay in full the unsecured short term loan facility from Herald Investment Trust.

As announced on 30 June 2015, the Company obtained an unsecured short term loan facility for £750,000 from Herald Investment Trust plc, taking effect from 1 July 2015 and repayable in full on the 15 December 2015, accruing interest at a rate of 6 per cent. per annum, (the "Loan"). The purpose of the Loan was for on-going working capital purposes and in order to continue R&D investment. Following the repayment of the Loan, net cash is expected to be approximately £1.4 million as at 31 December 2015.

The Company reported in its interim results announcement on 30 September 2015 that it had made good progress in the first half of its financial year and expected a better second half trading performance. The Company now expects total revenue to be approximately £13 million (absent any further contract wins, as further detailed below) and that this revenue is expected to comprise a higher proportion of lower margin sales than expected, assuming no additional license sales are recognised prior to the financial year-end. The Company has also incurred additional expenses of approximately £300,000 more than originally expected, in respect of IT expenditure and cloud transition costs.

The Company is still negotiating a number of license sales which may improve revenue and gross margin; however there is no guarantee that these contracts will be signed before the Company's financial year end.

A further announcement will be made, post the Company's financial year end.

For further information, please contact:

About ServicePower

ServicePower, the acknowledged leader in Optimisation Technology, provides an innovative global, fully mobilised field service management software platform used by field service organisations such as Assurant Solutions, Mitsubishi, Farmers Insurance, AIG Warranty and Pitney Bowes to improve productivity and efficiency, intelligently schedule appointments, SLA and complex jobs, as well as parts. Our platform focuses on solving fundamental field service problems with patented routing optimisation, M2M connected services, 3rd party dispatch and warranty claim payments, cutting edge mobile technology, robust business intelligence and asset tracking.

ServicePower is listed on the AIM market of the London Stock Exchange with the ticker SVR.L. For more information please visit www.servicepower.com