Member access

4-Traders Homepage  >  Shares  >  London Stock Exchange  >  Serco Group plc    SRP   GB0007973794

SERCO GROUP PLC (SRP)

14
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

G4S in talks with shareholders about possible cash call

07/14/2013 | 11:40am US/Eastern

British security firm G4S (>> G4S plc) has held talks with large investors about the prospects for tapping them for cash, a spokesman for the company said on Sunday.

British security firm G4S (>> G4S plc) has held talks with large investors about the prospects for tapping them for cash, a spokesman for the company said on Sunday.

G4S CEO Ashley Almanza has ordered a sweeping review of G4S and is expected to announce measures to try and repair its balance sheet when he reports half-year results in August, the spokesman confirmed.

Asked about the possibility of a rights issue, Almanza told Britain's The Sunday Times newspaper: "Shareholders have been asked about this. I will conduct a full review of the business and evaluate the various options, and we have many options. I have not given any signal either way."

His comments follow a difficult week for the company.

Britain said on Friday it would not be awarding any new contracts to G4S and rival Serco (>> Serco Group plc) until they received a clean bill of health from a government review after an audit found they had charged for tagging criminals who were either dead, in prison or never tagged in the first place.

Shares in G4S, which makes around 10 percent of its turnover from British government work, have tumbled 25 percent over the past year amid a series of scandals.

Its reputation was severely hit last year when it failed to provide enough security guards for the London Olympics and a profit warning in May led to the departure of long-serving chief executive Nick Buckles.

(Reporting by Tommy Wilkes, editing by William Hardy)

Stocks treated in this article : Serco Group plc, G4S plc
React to this article
Latest news on SERCO GROUP PLC
2h ago SERCO : *liberum raises serco price target to 210 (170) pence - 'hold'
1d ago SERCO : 100 people are at meeting on plan to house asylum seekers
2d ago SERCO : Oliver has found work at hospital which saved him
4d ago SERCO : City asylum seekers could be housed in industrial site
5d agoDJLONDON MARKETS : Miners Lead FTSE 100 To Two-month High After China Cuts Rates
5d ago FTSE heads for fifth week of gains on China rate cut
5d agoDJLONDON MARKETS : Miners Lead FTSE 100 To Two-month High After China Cuts Rates
5d ago SERCO : DIRECTOR DEALINGS: Person Connected To Serco Group CFO Buys Shares
5d agoDJLONDON MARKETS : London Miners Rally After China's Central Bank Cuts Rates
5d agoDJLONDON MARKETS : Rolls-Royce Gains In London; FTSE 100 Eyes Weekly Win
Advertisement
Chart
Duration : Period :
Serco Group plc Technical Analysis Chart | SRP | GB0007973794 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF