Smart Metering Systems (SMS) has concluded the sale of a proportion of its I&C meter asset portfolio to Summer Bidco Limited for a total cash consideration of £291m, demonstrably highlighting the value of the meter asset class. The net gain on sale is c£202m pre transaction related costs (£192m post), c36.6% of the current market cap and we estimate should leave SMS with a net cash position in excess of £60m (2019 net debt confirmed at c£220m as per January 31 trading update). This has enabled S ....
12 Mar 2020
Cenkos: Smart Metering Systems Plc - Demonstrable value realisation
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Cenkos: Smart Metering Systems Plc - Demonstrable value realisation
Smart Metering Systems PLC (SMS:LON) | 952 0 0.0% | Mkt Cap: 1,316m
- Published:
12 Mar 2020 -
Author:
Ian McInally -
Pages:
5
Smart Metering Systems (SMS) has concluded the sale of a proportion of its I&C meter asset portfolio to Summer Bidco Limited for a total cash consideration of £291m, demonstrably highlighting the value of the meter asset class. The net gain on sale is c£202m pre transaction related costs (£192m post), c36.6% of the current market cap and we estimate should leave SMS with a net cash position in excess of £60m (2019 net debt confirmed at c£220m as per January 31 trading update). This has enabled S ....