REG - Speedy Hire PLC - Commercial Agreement & Equity Subscription

Speedy HireAnnouncement

06/11/2025 16:00

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RNS Number : 5441G  Speedy Hire PLC  06 November 2025

Speedy Hire plc

("Speedy", "the Company" or "the Group")

Update on commercial agreement with ProService and investment in ProService
Building Services Marketplace plc

On 6 October, Speedy, the UK's leading tools and equipment hire services
company, announced that its subsidiary Speedy Asset Services signed a
comprehensive commercial hire and services supply agreement (the "Commercial
Agreement") with HSS ProService Limited ("ProService"), a UK building services
marketplace and wholly owned subsidiary of HSS Hire Group plc (to be re-named
ProService Building Services Marketplace plc) ("ProService plc"). In addition,
ProService plc agreed the issue to Speedy of 79,368,711 of its shares,
representing approximately 9.99% of the post subscription issued share capital
of ProService plc (the "Subscription" and, together with the Commercial
Agreement and the HSS APA (as defined in that announcement), the
"Transaction").

The Transaction was conditional, including the Subscription and the HSS APA
being subject to approval by ProService plc shareholders, who have passed the
required resolutions at a general meeting today.

The Transaction remains inter-conditional but, otherwise, subject only to the
satisfaction of the CMA condition and admission of the shares subscribed for
by Speedy to trading on AIM ("Admission"). The CMA has confirmed to Speedy and
ProService plc that it has no further questions in response to the briefing
paper submitted by Speedy in connection with the Transaction, but the CMA
condition cannot be satisfied until the dealing day before Admission.
Admission is currently anticipated to be at 8.00 a.m. on 17 November 2025.

 

Enquiries:

Speedy Hire
Plc
Tel: 01942 720 000

Dan Evans, Chief Executive

Paul Rayner, Chief Financial Officer

Teneo
                                                    Tel:
020 7427 5494

Giles Kenrick

 

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