Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Severfield-Rowen PLC (SFR)

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Wednesday 23 January, 2013

Severfield-Rowen PLC

Full Year Trading Update and Management Changes

RNS Number : 1440W
Severfield-Rowen PLC
23 January 2013
 



Severfield-Rowen PLC

 

Full Year Trading Update and Management Changes

 

Severfield-Rowen Plc (the "Group"), the market leading structural steel group, issues this trading update for the 12 months to 31 December 2012.

 

 

Trading Update

 

As previously announced the Group's UK businesses have been operating in a difficult climate with pricing pressure and protraction of contractual settlements posing significant challenges as clients and the supply chain compete harder in a shrinking market.

 

Since then our UK performance has been further, and materially, adversely affected by cost overruns on our 122 Leadenhall contract.  As a result, the Board intends to review expeditiously its current contract base and will provide a further update to the market, as soon as possible, when it has greater clarity on the financial impact of this exercise.

 

As at 31 December 2012, net borrowings are £30 million with the order book stable at £209 million. 

 

 

Management change

 

In light of these recent developments, the Board has concluded that a change to the leadership of Severfield-Rowen is required to re-establish confidence with all the Group's stakeholders.   Accordingly, Tom Haughey, Chief Executive, is standing down from this role and leaving the Board with immediate effect.  John Dodds, Chairman, will assume the role of Executive Chairman with immediate effect pending the appointment of a new Chief Executive. The Board is actively engaged in a search process to identify a permanent Chief Executive.

 

 

Funding

 

The Company is in discussions with its lending banks regarding compliance with its covenants. The discussions with the Company's lending banks, and its other stakeholders, will continue with the objective of placing the Group on sound financial foundations that support its UK business and the further development of its Indian joint venture.

 

 

John Dodds, Executive Chairman, commented:

 

"Severfield-Rowen is the UK's market leader in structural steel and the development of its Indian activities is encouraging.  Our order book remains stable, despite challenging current conditions, and the Board is confident that the longer term fundamentals of the Group are strong.  I am, however, extremely disappointed in the need to make this latest trading update.  My task, now, is to re-establish the credibility of the Group with all its stakeholders, bring greater control and discipline to its operations and secure Severfield-Rowen's longer term financing."

 

For further information, please contact:

 

Severfield-Rowen Plc

John Dodds

Executive Chairman

 

Alan Dunsmore

Finance Director

 

01845 577896

 

  

 

01845 577896

Jefferies Hoare Govett

Simon Hardy

Harry Nicholas                    

 

 

020 7029 8000

020 7029 8000

Pelham Bell Pottinger

Archie Berens

Guy Scarborough

 

 

020 7861 3112

020 7861 3870

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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