Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

Delayed Quote. Delayed  - 05/06 05:35:00 pm
94.55 GBp   -0.63%
05/06 SERCO : tugs secure the votes for North Ayrshire
04/29 SERCO : New MD for Serco’s UK Citizen Services business
04/28 SERCO : signs icebreaker contract
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

G4S in talks with shareholders about possible cash call

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/14/2013 | 05:40pm CEST

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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on SERCO GROUP PLC
05/06 SERCO : tugs secure the votes for North Ayrshire
04/29 SERCO : New MD for Serco’s UK Citizen Services business
04/28 SERCO : signs icebreaker contract
04/28 SERCO : Snaps Up GBP160 Million Australian Icebreaker Contract
04/28 SERCO : Australia signs contract for state-of-the-art icebreaker vessel
04/21 SERCO : *credit suisse raises serco group price target to 100 (95) pence - 'neut..
04/15 SERCO : Aaron Henricksen to lead Serco’s new Employment, Skills & Enterpri..
04/13 SERCO : *exane bnp raises serco group price target to 145 (140) pence - 'outperf..
04/12 SERCO : apprentices transform local youth centre
04/07 SERCO : Awarded $131 Million C4I Sustainment Contract Supporting the U.S. Navy
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials