ProService Supply Agreement with Speedy Hire | Company Announcement | Investegate

Contributing sentiments towards policy:

55% : Disclaimer* This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended (together, "MAR").
54% : The resolution to grant authority to HSS to allot equity securities pursuant to s.551 of the Companies Act 2006 up to a maximum amount to cover the total number of shares being issued under the Subscription shall be proposed as an ordinary resolution; · The resolution to approve the THSC Disposal and the Speedy Hire APA as a fundamental change of business pursuant to Rule 15 of the AIM Rules shall be proposed as an ordinary resolution; and · The resolution to disapply pre-emptive rights pursuant to s.570 of the Companies Act 2006 over the allotment and issue of the Subscription Shares shall be proposed as a special resolution, together, the "Resolutions".
52% : Important factors that could cause actual results, performance or achievements of HSS, the Group, THSC or ProService to differ materially from the expectations of HSS, the Group, THSC or ProService include, among other things, general political, business and economic conditions, industry and market trends, competition, changes in government and changes in law, regulation and policy, including in relation to taxation as well as political and economic uncertainty stakeholder perception of HSS, the Group, THSC or ProService and/or the sectors or markets in which it operates.
50% : Principal Terms of the Transaction The THSC Disposal, the Speedy Hire Commercial Agreement and the Speedy Hire Investment are inter-conditional and subject to the satisfaction of certain conditions including: · the UK Competition and Markets Authority ("CMA") having confirmed in response to a briefing paper submitted by Speedy Hire in connection with the Speedy Hire Commercial Agreement and Speedy Hire Investment, that it has no further questions in relation to the same and, as at midday the Dealing Day immediately prior to the date on which Admission is proposed, it having not: o requested submission of a merger notice pursuant to s.96 of the Enterprise Act 2002 ("EA02"); o indicated to Speedy Hire or HSS that it intends to, or is considering whether to, commence an investigation; o confirmed that the statutory review period in which the CMA has to decide whether to make a reference under section 34ZA
47% : Under the terms of the Brand Licence, ProService grants THSC an exclusive, royalty-free, non-transferable and non-sublicensable licence (with specific, limited permissions for sub-licensing within the THSC group) to use the name HSS The Hire Service Company in a permitted form in the UK in connection with its business until the licence is terminated.
37% : This combination of scale in its core market and non-core activities outside its strategic focus made Speedy Hire an attractive partner.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.