SVR.L Regulatory News (SVR)

For immediate release

Not for release, publication or distribution, in whole or in part, DIRECTLY OR INDIRECTLY in, into or from any RESTRICTED jurisdiction (INCLUDING THE UNITED STATES OF AMERICA) where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

11 January 2017

RECOMMENDED CASH OFFER

FOR

SERVICEPOWER TECHNOLOGIES PLC

BY

DIVERSIS CAPITAL UK LIMITED

(a subsidiary of DIVERSIS CAPITAL, LLC.)

 Updated level of acceptances

At 7.00 a.m. on 10 January 2017, Diversis announced that the Recommended Offer had been declared unconditional in all respects.

In that announcement, it was disclosed that Diversis had an acceptance from BFLAP outstanding in respect of an irrevocable commitment to accept (or procure the acceptance of) the Recommended Offer in respect of 9,551,007 ServicePower Shares, representing approximately 4.2 per cent. of the issued share capital of ServicePower and that this acceptance was anticipated to be received shortly.

Diversis announces that this acceptance from BFLAP has now been received.

At 3.00 p.m. on 10 January 2017 acceptances in respect of 206,208,652 ServicePower Shares, representing approximately 90.6 per cent. of the issued share capital of ServicePower have been received.

The Recommended Offer will remain open for acceptance until further notice. Diversis will give at least 14 days' notice prior to the closing of the Recommended Offer. All other terms and conditions as outlined in the Offer Document still apply.

Capitalised terms and expressions used in this announcement shall, unless otherwise defined herein and save as the context otherwise requires, have the same meanings as given to them in the Offer Document.

The percentage holdings of ServicePower Shares referred to in this announcement are based upon a figure of 227,560,827 ServicePower Shares in issue.

Enquiries:

Diversis Management Corporation Limited +1 310 396 4200

Ron Nayot

Stockdale Securities Limited

Financial Adviser to Diversis +44(0) 20 7601 6100

Tom Griffiths

Edward Thomas

ServicePower Technologies PLC +44(0) 161 476 7762

Marne Martin, CEO

finnCap Ltd

Financial Adviser, Nomad and Broker to ServicePower +44 (0) 20 7220 0500

Jonny Franklin-Adams

Emily Watts

Kate Bannatyne

Stockdale Securities Limited ("Stockdale"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively as financial adviser to Diversis and no-one else in connection with the Offer and other matters described in this Announcement, and will not be responsible to anyone other than Diversis for providing the protections afforded to clients of Stockdale or for providing advice in relation to the Offer, the contents of this Announcement or any other matter referred to herein. Stockdale has given, and not withdrawn, its consent to the inclusion in the Announcement of the references to its name in the form and context in which it appears.

finnCap Limited ("finnCap"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively as financial adviser and broker to ServicePower and no-one else in connection with the Offer and other matters described in this Announcement, and will not be responsible to anyone other than ServicePower for providing the protections afforded to clients of finnCap or for providing advice in relation to the Offer, the contents of this Announcement or any other matter referred to herein. finnCap has given, and not withdrawn, its consent to the inclusion in the Announcement of the references to its name and the advice it has given to ServicePower in the form and context in which they appear.

In accordance with Rule 30.3 of the Code, you may request a hard copy of this announcement by contacting the Receiving Agent, Capita Asset Services, during business hours on 0371 664 0321 from within the UK or +4420 8639 3399 if calling from outside the UK or by submitting a request in writing to Capita Asset Services at The Registry, 34 Beckenham Road, Kent, BR3 4TU. It is important that you note that unless you make a request, a hard copy of this announcement and any such information incorporated by reference in it will not be sent to you. You may also request that all future documents, announcements and information to be sent to you in relation to the Recommended Offer should be sent in hard copy form.

SHAREHOLDERS ARE ADVISED TO READ THE OFFER DOCUMENT CAREFULLY. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT INTENDED TO, AND DOES NOT, CONSTITUTE OR FORM ANY PART OF AN OFFER TO SELL OR AN INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES OR THE SOLICITATION OF ANY VOTE OR APPROVAL IN ANY JURISDICTION, NOR SHALL THERE BE ANY SALE, ISSUANCE OR TRANSFER OF THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT IN ANY JURISDICTION IN CONTRAVENTION OF APPLICABLE LAW. THE RECOMMENDED OFFER IS BEING MADE SOLELY BY MEANS OF THE OFFER DOCUMENT (TO THE EXTENT NOT REVISED BY THE OFFER DOCUMENT), WHICH CONTAIN THE FULL TERMS AND CONDITIONS OF THE RECOMMENDED OFFER, AND IN THE CASE OF SERVICEPOWER SHARES HELD IN CERTIFICATED FORM, THE FORM OF ACCEPTANCE. ANY ACCEPTANCE IN RELATION TO THE RECOMMENDED OFFER SHOULD BE MADE ONLY ON THE BASIS OF THE INFORMATION CONTAINED IN THESE DOCUMENTS.

The availability of the Offer Document and the release, publication and distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by the laws of those jurisdictions and therefore persons who are not resident in the United Kingdom into whose possession this announcement comes should inform themselves about and observe any such restrictions. Failure to comply with any such restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable law, the companies and persons involved in the Recommended Offer disclaim any responsibility or liability for the violation of such restrictions by any person. Copies of this announcement and any formal documentation relating to the Recommended Offer are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in or into or from any Restricted Jurisdiction and persons receiving such documents (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send them in, into or from any Restricted Jurisdiction.

This announcement has been prepared for the purpose of complying with English law, the Code and the AIM Rules and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.

A copy of this announcement will be available (subject to any applicable restrictions relating to persons resident in Restricted Jurisdictions), for inspection on Diversis's website at www.diversiscapital.com for Diversis and on www.servicepower.com for ServicePower by no later than 12 noon (London time) on the Business Day following the date of this announcement.