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(SDY.L) Speedy Hire PLC Buy/Sell
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| Date/Time | Headline | Source |
|---|---|---|
| 1 |  2 | ||
| Fri 10:23 | RNS |
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RNS Number : 8418C Speedy Hire PLC 20 November 2009 TR-1: Notifications of Major Interests in Shares
1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
3. Full name of person(s) subject to notification obligation: N/A
4. Full name of shareholder(s)
(if different from 3):
5. Date of transaction (and
date on which the threshold is
crossed or reached if
different):
6. Date on which issuer
notified:
7. Threshold(s) that is/are crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
GB0000163088
ORD5P B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: N/A Proxy Voting:
12. Date on which proxy holder will cease to hold voting rights: N/A
13. Additional information: All voting rights held on behalf of the above
15. Contact telephone name: 020 7680 2125 / 020 7680 2177 This information is provided by RNS The company news service from the London Stock Exchange END
HOLBGBDBCBDGGCG More |
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| 12-11-09 | RNS |
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RNS Number : 4398C Speedy Hire PLC 12 November 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached:
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
subject to notification obligation: 4. Full name of shareholder(s) N/A (if different from 3):
date on which the threshold is
crossed or reached if
different):
6. Date on which issuer notified:
crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
GB0000163088
ORD5P B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: BT Pension Scheme Trustees Limited is the parent undertaking of Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited. Hermes Fund Managers Limited is the parent undertaking of:
Please see Section 13 for further information. Proxy Voting:
cease to hold:
voting rights:
13. Additional information: Hermes Equity Ownership Services Limited hold
15. Contact telephone name: 020 7680 2177 / 020 7680 2125 This information is provided by RNS The company news service from the London Stock Exchange END
HOLBLBDBDXBGGCD More |
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| 12-11-09 | RNS |
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RNS Number : 4398C Speedy Hire PLC 12 November 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached:
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
subject to notification obligation: 4. Full name of shareholder(s) N/A (if different from 3):
date on which the threshold is
crossed or reached if
different):
6. Date on which issuer notified:
crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
GB0000163088
ORD5P B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: BT Pension Scheme Trustees Limited is the parent undertaking of Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited. Hermes Fund Managers Limited is the parent undertaking of:
Please see Section 13 for further information. Proxy Voting:
cease to hold:
voting rights:
13. Additional information: Hermes Equity Ownership Services Limited hold
15. Contact telephone name: 020 7680 2177 / 020 7680 2125 This information is provided by RNS The company news service from the London Stock Exchange END
HOLBLBDBDXBGGCD More |
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| 04-11-09 | RNS |
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RNS Number : 9883B Speedy Hire PLC 04 November 2009 TR-1: Notifications of Major Interests in Shares
issuer of existing shares to which voting rights are attached: 2. Reason for notification (yes/no)
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights Other (please specify):______________
to notification obligation: 4. Full name of shareholder(s) (if See section 9 different from 3):
on which the threshold is crossed or reached if different):
crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
GB0000163088 B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:
various direct and indirect
subsidiaries, including FIL
Fund Management Limited
(FFML), FIL Investment
Services Ltd (FISL), FIL
Gestion (FIGEST), FIL Asset
Management (Korea) Limited
(FIAKL), FIL Investments
Management (Hong Kong)
Limited (FIMHK), FIL Pension
Management (FPM), Fidelity
Investments Japan (FIJ) and
FIL Investments International
(FII), investment managers for
various non-US investment
companies and Institutional
clients
Proxy Voting:
10. Name of proxy holder:
11. Number of voting rights proxy holder will cease to hold:
rights:
13. Additional information:
15. Contact telephone name: fil-regreporting@fil.com This information is provided by RNS The company news service from the London Stock Exchange END
HOLBRBDBSDGGGCS More |
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| 04-11-09 | RNS |
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RNS Number : 9882B Speedy Hire PLC 04 November 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached:
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
3. Full name of person(s) subject to notification obligation: N/A
4. Full name of shareholder(s)
(if different from 3):
5. Date of transaction (and
date on which the threshold is
crossed or reached if
different):
6. Date on which issuer
notified:
7. Threshold(s) that is/are crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
GB0000163088
ORD5P B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: N/A Proxy Voting:
12. Date on which proxy holder will cease to hold voting rights: N/A
13. Additional information: All voting rights held on behalf of the above
15. Contact telephone name: 020 7680 2125 / 020 7680 2177 This information is provided by RNS The company news service from the London Stock Exchange END
HOLBRBDBBDGGGCS More |
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| 03-11-09 | RNS |
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RNS Number : 8973B Speedy Hire PLC 03 November 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached: 2. Reason for notification (yes/no)
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
subject to notification obligation: 4. Full name of shareholder(s) (if different from 3):
date on which the threshold is crossed or reached if different):
notified:
crossed or reached: 8: Notified Details Decrease in total holdings from 5.09% to 4.97% A: Voting rights attached to shares
If possible use ISIN code transaction
0016308 B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:
Direct
Direct
Indirect
Proxy Voting: 10. Name of proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information:
15. Contact telephone name: 020 7003 1510 This information is provided by RNS The company news service from the London Stock Exchange END
HOLBRBDBDBGGGCX More |
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| 03-11-09 | RNS |
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RNS Number : 8968B Speedy Hire PLC 03 November 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached: 2. Reason for notification (yes/no)
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights Other (please specify):______________
subject to notification obligation: 4. Full name of shareholder(s) See section 9 (if different from 3):
date on which the threshold is crossed or reached if different):
notified:
crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
GB0000163088 B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:
various direct and indirect
subsidiaries, including FIL
Fund Management Limited
(FFML), FIL Investment
Services Ltd (FISL), FIL
Gestion (FIGEST), FIL Asset
Management (Korea) Limited
(FIAKL), FIL Investments
Management (Hong Kong)
Limited (FIMHK), FIL Pension
Management (FPM), Fidelity
Investments Japan (FIJ) and
FIL Investments International
(FII), investment managers for
various non-US investment
companies and Institutional
clients
Proxy Voting:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting
13. Additional information:
15. Contact telephone name: fil-regreporting@fil.com This information is provided by RNS The company news service from the London Stock Exchange END
HOLBRBDBCGGGGCX More |
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| 29-10-09 | RNS |
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RNS Number : 6175B Speedy Hire PLC 29 October 2009
29 October 2009
SPEEDY HIRE PLC
ANALYST AND INVESTOR SITE VISIT Speedy Hire announces that this evening it is hosting an analyst and investor site visit to its Head Office and to its multi service centre operation in Warrington which will conclude on 30 October 2009. During the visit no new material information will be made available, other than that which was provided in the Company's first half trading update on 12 October 2009. Copies of the presentations being given will be made available on the Company's investor relations website www.speedyhire.plc.uk from 9.15am on 30 October 2009. Enquiries: Hudson Sandler Tel: +44(0) 207 796 4133 Sarah Hughes This information is provided by RNS The company news service from the London Stock Exchange END
MSCBUBDGRDDGGCC More |
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| 29-10-09 | RNS |
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RNS Number : 5827B Speedy Hire PLC 29 October 2009 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
of existing shares to which voting rights are
attached: ii
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of qualifying financial instruments which may result in the acquisition
of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial
instruments
An event changing the breakdown of voting rights
Other (please specify):
notification obligation: iii
(if different from 3.):iv
which the threshold is crossed or
reached: v
reached: vi, vii
8. Notified details:
A: Voting rights attached to shares viii, ix
if possible using
the ISIN CODE
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Total (A+B+C)
9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi
various direct and indirect
subsidiaries, including FIL
Fund Management Limited
(FFML), FIL Investment
Services Ltd (FISL), FIL
Gestion (FIGEST), FIL Asset
Management (Korea) Limited
(FIAKL), FIL Investments
Management (Hong Kong) Limited
(FIMHK), FIL Pension
Management
(FPM), Fidelity Investments
Japan (FIJ) and FIL
Investments International
(FIL), investment managers for
various non-US investment
companies and Institutional
clients
LTD LUX
Proxy Voting:
to hold:
voting rights:
13. Additional information:
Amanda Chana
fill-regreporting@fil.com This information is provided by RNS The company news service from the London Stock Exchange END
HOLBGBDGDUDGGCC More |
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| 28-10-09 | RNS |
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RNS Number : 5273B Speedy Hire PLC 28 October 2009
of existing shares to which voting rights are
attached: ii
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of qualifying financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial
instruments
An event changing the breakdown of voting rights
Other (please specify):
notification obligation: iii
4. Full name of shareholder(s)
(if different from 3.):iv
which the threshold is crossed or
reached: v
reached: vi, vii
8. Notified details:
A: Voting rights attached to shares viii, ix
if possible using
the ISIN CODE
GB0000163088
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Total (A+B+C)
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi Schroder Investment Management Limited 48,895,050 9.45% Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights:
14. Contact name:
15. Contact telephone number: 020 7658 6000 This information is provided by RNS The company news service from the London Stock Exchange END
HOLBSBDGUBDGGCI More |
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| 23-10-09 | RNS |
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RNS Number : 3039B Speedy Hire PLC 23 October 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached: 2. Reason for notification (yes/no)
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
subject to notification obligation: 4. Full name of shareholder(s) (if different from 3):
date on which the threshold is crossed or reached if different):
notified:
crossed or reached: 8: Notified Details Decreased in total holdings from 5.09% to 4.97% A: Voting rights attached to shares
If possible use ISIN code transaction
0016308 B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: Proxy Voting: 10. Name of proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information:
14 Contact name:
15. Contact telephone name: 020 7003 1510 This information is provided by RNS The company news service from the London Stock Exchange END
HOLBBBDGGSDGGCX More |
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| 22-10-09 | RNS |
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RNS Number : 2559B Speedy Hire PLC 22 October 2009 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
1. Identity of the issuer or the underlying issuer of
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares
already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
4. Full name of shareholder(s) Aberdeen Income Funds
notified:
crossed or reached: 8. Notified details: A: Voting rights attached to shares
if possible using
the ISIN CODE
B: Qualifying Financial Instruments Resulting situation after the triggering transaction
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction
Total (A+B+C)
Number of voting rights Percentage of voting rights
25,347,680 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information:
This information is provided by RNS The company news service from the London Stock Exchange END
HOLBUBDGRDDGGCD More |
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| 22-10-09 | RNS |
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RNS Number : 2554B Speedy Hire PLC 22 October 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached:
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights Other (please specify):______________
subject to notification obligation: 4. Full name of shareholder(s) (if different from 3):
date on which the threshold is
crossed or reached if
different):
notified:
crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
Ordinary
GB0000163088 B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or
the financial instruments are effectively held, if applicable:
10.904% Proxy Voting: 10. Name of proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights:
13. Additional information: The shares referred to in section 9 are held in
14 Contact name:
15. Contact telephone name: 020 7658 6000 This information is provided by RNS The company news service from the London Stock Exchange END
HOLBUBDGXDDGGCD More |
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| 19-10-09 | RNS |
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RNS Number : 0379B Speedy Hire PLC 19 October 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached:
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
subject to notification obligation: 4. Full name of shareholder(s) N/A (if different from 3):
date on which the threshold is
crossed or reached if
different):
6. Date on which issuer notified:
crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
GB0000163088
ORDSP B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: BT Pension Scheme Trustees Limited is the parent undertaking of Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited. Hermes Fund Managers Limited is the parent undertaking of:
Please see Section 13 for further information. Proxy Voting:
10. Name of proxy holder:
11. Number of voting rights proxy holder will
12. Date on which proxy holder will cease to hold
13. Additional information: Hermes Equity Ownership Services Limited hold
This information is provided by RNS The company news service from the London Stock Exchange END
HOLBUBDGDXBGGCC More |
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| 19-10-09 | RNS |
|
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RNS Number : 0379B Speedy Hire PLC 19 October 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached:
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights
Other (please specify):______________
subject to notification obligation: 4. Full name of shareholder(s) N/A (if different from 3):
date on which the threshold is
crossed or reached if
different):
6. Date on which issuer notified:
crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
GB0000163088
ORDSP B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: BT Pension Scheme Trustees Limited is the parent undertaking of Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited. Hermes Fund Managers Limited is the parent undertaking of:
Please see Section 13 for further information. Proxy Voting:
10. Name of proxy holder:
11. Number of voting rights proxy holder will
12. Date on which proxy holder will cease to hold
13. Additional information: Hermes Equity Ownership Services Limited hold
This information is provided by RNS The company news service from the London Stock Exchange END
HOLBUBDGDXBGGCC More |
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| 16-10-09 | RNS |
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RNS Number : 9229A Speedy Hire PLC 16 October 2009 TR-1: Notifications of Major Interests in Shares
of existing shares to which voting rights are attached: 2. Reason for notification (yes/no)
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights Other (please specify):______________
subject to notification obligation: 4. Full name of shareholder(s) (if different from 3):
date on which the threshold is crossed or reached if different):
notified:
crossed or reached: 8: Notified Details A: Voting rights attached to shares
If possible use ISIN code transaction
GB0000163088 B: Financial Instruments Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
Total (A+B)
Number of voting rights Percentage of voting rights
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: Schroder Investment Management Limited 71,398,980 13.804% Proxy Voting: 10. Name of proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights:
13. Additional information: The shares referred to in section 9 are held in
14 Contact name:
15. Contact telephone name: 020 7658 6000 This information is provided by RNS The company news service from the London Stock Exchange END
HOLBBBDGCUBGGCL More |
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| 12-10-09 | RNS |
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RNS Number : 5927A Speedy Hire PLC 12 October 2009
12 October, 2009
SPEEDY HIRE PLC First Half 2009/10 Trading Update Speedy Hire Plc ('Speedy' or the 'Group'), the UK's largest provider of tools and equipment for hire, is releasing this trading update for the six months ended 30 September, 2009. The Group will announce its interim results on 25 November, 2009. Trading Whilst the trading environment within the construction sector remains challenging and confidence is fragile, the stability which we had suggested was becoming more evident in the early part of this financial year has carried through into September, albeit off a very low base. However, with the continued weakness of the private sector and cancellation of projects planned, e.g. Kingsnorth Power Station, there is little evidence that the seasonal pick-up in turnover typically associated with the late September/October period will follow traditional patterns. Second quarter Group turnover (July-September) will be broadly in line with that recorded in the first quarter. Year on year turnover comparisons also show that percentage declines have remained relatively steady across the first and second quarters of 2009/10. As a consequence, first half turnover is expected to be approximately 29% below the prior year, which itself had been a period of strong growth (+22% to £256.2m).
Speedy continues to deepen its penetration of the major contractor market, as evidenced by recent new awards with Bovis Lend Lease at its Stratford City project and the on-site award at the Shard of Glass, with MACE in the City of London. These customers continue to benefit from strong Government, infrastructure and regulated industry spending. As a result, turnover from the top 50 UK contractors has proved more resilient than the wider market and now accounts for approximately 26% of Group turnover (vs. 21.5% a year ago).
At the time of the July 2009 AGM statement, the Board indicated that further management action would be required in order to meet the continuing challenges present in its markets. Further improvements and efficiencies have been identified within the business and additional cost reduction measures have been implemented. These measures are targeted to deliver a further c.£30m of savings in the current financial year, with approximately £5m benefitting the first half and £25m the second half. Second quarter trading and the benefits of these further actions to realign costs will offset the small first quarter EBITA (pre-exceptional) loss. Following this action, employee headcount has fallen by 270 (6%) during the course of the financial year and 19 (5%) depots have been merged with other local sites. Additionally, savings have been driven through in central functions such as IT, marketing, transport and supply chain. Exceptional costs associated with these latest actions are expected to total approximately £8m during the course of this financial year. Approximately 50% is a cash cost for 2009/10 and approximately £3m is anticipated to be recognised in the first half and £5m in the second. In addition, £2m of exceptional costs have also been recognised in the first half relating to cost savings initiated in 2008/09, programmes which have already delivered approximately £42m of annualised benefit. Financial Position Having anticipated the severity of the downturn earlier and more aggressively than its peers, management has now removed in excess of £70m of costs since August 2008. As a result, Speedy is well positioned to meet the challenges posed by an uncertain marketplace and the business is structured to operate at its previously industry leading margins and capital returns. Through a tight control over costs, prudent cash management and the receipt of the £100m net proceeds from the Group's rights issue announced in May, net debt at 30 September, 2009 has been reduced to approximately £135m, compared to £248m at the start of the financial year. We anticipate continued improvement in the Group's financial position over the remainder of the financial year, targeting net debt to be around £120m by year end, as Speedy uses its positive cash flow to reduce bank debt further. As anticipated, the interest margin on the Group's bank facility fell to 3% in July, with the result that the effective interest rate incurred during the first half, including commitment fees and hedge costs, is expected to be approximately 8%. Strategic Developments To build upon the strength of Speedy's brand and customer relationships and to provide new growth opportunities, two new business units are being rolled out. The objective is to create services which both complement and expand our existing business offerings and thereby facilitate the development of Speedy as the long term strategic partner of choice with its key customers.
In July 2009, Speedy signed a Memorandum of Understanding with Al Futtaim Carillion ('AFC'), Carillion's joint venture in the Middle East. The aim is to establish an industry-leading 'Full Outsource' model which will involve Speedy providing, in addition to its traditional hire offering, complementary services in areas such as asset management, site support services and logistics control. Speedy has already transferred personnel and equipment from the UK to the region. To develop this initiative further, initial capex of approximately £3.5m will be invested in new fleet during the course of the second half of 2009/10 to support specific AFC requirements. We are confident that this targeted, client driven approach will provide an excellent platform for growth as we extend this fuller outsourcing initiative to other selected customers across the Middle East and elsewhere.
During the period, Patrick Rawnsley, formerly Speedy's Group Company Secretary, was appointed Head of Branded & Advisory Services. This new division aims to leverage the Speedy brand by building broader and deeper relationships with the Group's customers. It will do so by providing consultancy and training services based on Speedy's core brand values of safety, skills, compliance and innovation, thereby better positioning Speedy within the asset management cycle of its major customers. The range of services will initially be offered to the UK construction market, but over time will be expanded to other sectors and geographies, thereby assisting in Speedy's goal of being recognised as an international services provider.
From September 2009, Speedy's ten UK regional and product-based businesses were merged into one trading entity, Speedy Asset Services Limited. This is part of the Group's drive to make Speedy easier to trade with for its customers and also enhances the efficiencies that can be achieved from the Group's new centralised shared service centre, which came into operation during the course of the Summer. As a consequence of this move, and following the introduction of IFRS8, the Group's segmental reporting will henceforth be split as follows: UK & Ireland Asset Services and International & Advisory (combining International Asset Services and Branded & Advisory Services). Turnover from the latter segment is expected to be approximately £1m for the first half of 2009/10 and to end the financial year at an annualised revenue run-rate of c.£10m. The component businesses will be reported separately once they become more significant. Outlook The Board believes that at current internal levels of forecast revenues, which are below its previous expectations, EBITA (pre-exceptionals) would be broadly in line with its expectations because of the aggressive and pre-emptive approach taken to its cost base by management. But with no sign of improvement in private sector spending and increased sensitivity around the sustainability of Government spending, there is still significant uncertainty in the current outlook for construction and, whilst trading in recent months has begun to stabilise, risks to the Group's revenue forecasts remain on the downside in the short term. Having now extracted in excess of £70m of costs since August 2008 (when management predicted a more severe downturn than many of its peers suggested and took earlier appropriate action), the Board considers that it would be inappropriate to reduce the Group's operational footprint any further as this would begin to impair customer service, the provision of which has been the bedrock of establishing Speedy as the UK market leader. As a consequence, any further deterioration in the Group's revenue forecasts is unlikely to be offset significantly by additional cost reductions. With its strong balance sheet, improved cost structure and market leading position in the UK, which it has continued to strengthen (particularly with the major contractors), the business is well placed to benefit from market recovery that will occur. This market and financial strength, together with the new growth opportunities available from the recently launched Middle East operation and the Branded & Advisory Services business, provides confidence in a strong future for the Group. These initiatives, together with the step-up of activity from the Group's on-site facility at the Olympic Park and the benefits that should be realised from recently awarded new contracts at Stratford City, in the water sector and in support of other UK infrastructure projects, demonstrate a confident and positive response to what remains an extremely challenging trading environment. Enquiries:
Steven Corcoran, Chief Executive Justin Read, Group Finance Director
Nick Lyon / Wendy Baker There will be a conference call for analysts at 7.45am this morning. For conference call details please contact Hudson Sandler on 020 7796 4133. The information in this release is based on management information. This report includes statements that are forward looking in nature. Forward looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Except as required by the Listing Rules and applicable law, the Company undertakes no obligation to update, revise or change any forward looking statements to reflect events or developments occurring after the date of this report. This information is provided by RNS The company news service from the London Stock Exchange END
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| 09-10-09 | RNS |
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RNS Number : 5787A Speedy Hire PLC 09 October 2009 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
of existing shares to which voting rights are attached:
2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached. An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify):
notification obligation:
5. Date of the transaction and date on which the threshold is crossed or reached:
reached: 8. Notified details:
A: Voting rights attached to shares
if possible using
the ISIN CODE
GBP 0.05
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction
Total (A+B+C)
9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
Legal & General Group Plc (Direct and Indirect)
(Group)
Legal & General Investment Management (Holdings)
Limited (LGIMH) (Direct and Indirect)
Legal & General Investment Management Limited
(Indirect) (LGIM)
Legal & General Group Plc (Direct) (L&G) (20,419,732 - 3.94 % = LGAS, LGPL
Management (Holdings) Limited (Direct) (LGIH)
(Direct) (LGIMHD) (18,380,112
- 3.55 % = PMC)
(PMC) (18,380,112 - 3.55 % = PMC)
(LGPL)
Proxy Voting:
N/A
to hold: N/A
voting rights: N/A
13. Additional information:
020 3124 3851 This information is provided by RNS The company news service from the London Stock Exchange END
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| 30-09-09 | RNS |
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RNS Number : 9668Z Speedy Hire PLC 30 September 2009 Speedy Hire Plc 30 September 2009 Voting Rights and Capital In accordance with the FSA's Disclosure and Transparency Rule 5.6.1, Speedy Hire Plc ("Company") would like to notify the market of the following: As at 30 September 2009, the Company's issued share capital consists of 517,215,666 ordinary shares of 5 pence each with voting rights. The Company does not hold any ordinary shares in Treasury. Therefore the total number of voting rights in the Company is 517,215,666. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules. Enquiries: Speedy Hire Plc Suzana Koncarevic Group Company Secretary Tel: 01942 720 000 This information is provided by RNS The company news service from the London Stock Exchange END
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| 30-09-09 | RNS |
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RNS Number : 8955Z Speedy Hire PLC 30 September 2009
30 September 2009 Speedy Hire Plc ("Company") Change in Director's Particulars In accordance with Listing Rule 9.6.14, the Company advises that Ishbel Macpherson, non-executive director, resigned as a non-executive director of MITIE Group PLC with effect from today. Enquiries: Suzana Koncarevic Group Company Secretary Speedy Hire Plc Telephone: 01942 720 000 This information is provided by RNS The company news service from the London Stock Exchange END
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