Carillion PLC Update on discussions with creditors (8019B)
January 12 2018 - 1:08PM
UK Regulatory
TIDMCLLN
RNS Number : 8019B
Carillion PLC
12 January 2018
12 January 2018
Update on Recapitalisation and Restructuring Discussions
Carillion plc ("Carillion" or the "Group") met with
representatives of its creditor groups to present its business plan
on 10 January 2018. Further to this presentation, Carillion
continues to engage in constructive discussions with a range of
financial and other stakeholders regarding options to reduce debt
and strengthen the Group's balance sheet. Suggestions that
Carillion's business plan has been rejected by stakeholders are
incorrect. It is too early to predict the outcome of these
discussions but Carillion expects that any such agreement is likely
to involve the raising of new capital and the conversion of
existing financial indebtedness to equity which would result in
significant dilution to existing shareholders. As part of its
engagement with stakeholders, Carillion is in constructive dialogue
in relation to additional short term financing while the longer
term discussions are continuing.
The Board remains focused on seeking to deliver an outcome that
will ensure that the Group emerges considerably strengthened and
able to continue delivering excellent service to its many public
and private sector customers.
For more information
Kellie McAvoy, Head of Investor Relations, Carillion plc +44 (0)
1902 906333
Teneo Blue Rubicon +44 (0) 207 420 3197
Charles Armitstead +44 (0) 7703 330269
Camilla Cunningham +44 (0) 7464 982426
This information is provided by RNS
The company news service from the London Stock Exchange
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