Speedy Hire

Shareholders of Speedy Hire approved all 19 proposed resolutions, including the financial statements for the year ended 31 March 2026 and a final dividend of 0.70 pence per ordinary share (99.90% approval). Judith Cottrell and Andrew McNaughton were elected to the board; five other directors were re-elected with approval rates above 98%. PricewaterhouseCoopers was reappointed as auditor, the board received authorities to issue and to buy back shares, David Garman left the board, and several committee reassignments were approved. » Mere på de.investing.com

Speedy Hire takes a 9.99% stake in ProService Building Services Marketplace for £35m and also acquires HSS core equipment plus three service centres. Speedy subsidiary Speedy Asset Services receives a right of first refusal to supply ProService with core rental equipment, expected to generate annual revenues of about £50–55m. The five-year agreement (unilaterally extendable to eight years) is expected to materially increase revenue and operating margin in the first full year; the investment is expected to be refinanced from operating cash flow within two to three years. Speedy anticipates temporary net debt of around 2.1x EBITDA to March 2026 and plans to reduce debt by cutting the dividend to 1.00p for 2026, while confirming its five-year targets. » Mere på de.investing.com

At Speedy Hire’s annual general meeting all 18 resolutions were passed, including a final dividend of 1.80 pence per ordinary share for the year ended 31 March 2025. The accounts and the remuneration report each received high levels of approval; the dividend proposal was approved by 99.91%. All directors standing for re-election were confirmed; David Shearer received the lowest approval (95.43%). After the meeting Rob Barclay resigned from the board, there were several changes to non-executive director roles, and the issued share capital and voting rights were disclosed. » Mere på de.investing.com