Update on discussions with creditors

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                                         [phone]

Teneo Blue Rubicon                                                                                           [phone]

Charles Armitstead                                                                                            [phone]

Camilla Cunningham                                                                                          [phone]

 

END

 

 

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