SVR.L Regulatory News (SVR)

5 Aug 2009 07:00



5th August 2009

ServicePower Technologies PLC

('ServicePower' or the 'Company')

Statement re Possible Offer

Further to the recent share price movement, the Board of Directors of ServicePower (the 'Board') confirms that it has recently received an expression of interest in an acquisition of ServicePower. The expression of interest was at a value deemed below that at which the Board would consider recommending to shareholders. The potential bidder is reconsidering its position.

A further announcement will be made as and when appropriate.

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, the Company also confirms that it currently has in issue 189,264,299 ordinary shares of 1p each and 803,378,691 deferred shares of 1p each. The International Securities Identification Number for the ordinary shares is GB0003831095.

For further information, please contact:

ServicePower Technologies PLC

Mark Duffin, Chief Executive Officer: +1 410 571 6333

Cavendish Corporate Finance LLP

Peter Gray, Partner: 0207 908 6000

KBC Peel Hunt Ltd.

Matt Goode: 020 7418 4900

ICIS Limited

Tom Moriarty, Bob Huxford: 020 7651 8688

Cavendish Corporate Finance LLP, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for ServicePower Technologies PLC and for no one else in connection with the proposed offer and is not advising any other person or treating any other person as its client in relation thereto and will not be responsible to anyone other than ServicePower Technologies PLC for providing the protections afforded to clients of Cavendish Corporate Finance LLP, or for giving advice to any other person in relation to the proposed offer, the contents of this announcement or any other matter referred to herein.

Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 1 per cent. or more of any class of 'relevant securities' of ServicePower, all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of ServicePower, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of ServicePower by ServicePower and by any of its respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk. 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel.'

About ServicePower

ServicePower, publicly traded on the AIM market operated by the London Stock Exchange (AIM:SVR), allows companies to locate their employed field resources in the right geography, ensure they have the right mix of skills, and outside this geography create a network of independent, authorised service contractors whose costs are efficiently managed by our sophisticated warranty management software. The schedules and routes for both the employed field resources and the independent servicers are optimised by ServicePower's technology to ensure the right balance between the cost of operations and ensuring customers receive a superior service experience.

For further information, please visit www.servicepower.com