January 12, 2018 / 6:23 PM / 5 days ago

BRIEF-Carillion Says It Continues To Engage In Constructive Discussions With Financial, Other Stakeholders

Jan 12 (Reuters) - Carillion Plc:

* UPDATE ON DISCUSSIONS WITH CREDITORS

* ‍MET WITH REPRESENTATIVES OF ITS CREDITOR GROUPS TO PRESENT ITS BUSINESS PLAN ON 10 JANUARY 2018​

* ‍SUGGESTIONS THAT CARILLION‘S BUSINESS PLAN HAS BEEN REJECTED BY STAKEHOLDERS ARE INCORRECT​

* ‍IT IS TOO EARLY TO PREDICT OUTCOME OF THESE DISCUSSIONS​

* CONTINUE TO ENGAGE IN CONSTRUCTIVE DISCUSSIONS WITH RANGE OF FINANCIAL AND OTHER STAKEHOLDERS REGARDING OPTIONS TO REDUCE DEBT, STRENGTHEN BALANCE SHEET​

* EXPECTS AGREEMENT IS LIKELY TO INVOLVE RAISING OF NEW CAPITAL AND CONVERSION OF EXISTING FINANCIAL INDEBTEDNESS TO EQUITY WHICH WOULD RESULT IN SIGNIFICANT DILUTION TO EXISTING SHAREHOLDERS​

* ‍IN CONSTRUCTIVE DIALOGUE IN RELATION TO ADDITIONAL SHORT TERM FINANCING WHILE LONGER TERM DISCUSSIONS ARE CONTINUING​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below