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Response to media reports re Deleveraging Plan

11 Mar 2019 17:27

RNS Number : 5113S
Interserve PLC
11 March 2019
 

 

 

 

11 March 2019

 

 

RESPONSE TO MEDIA REPORTS REGARDING DELEVERAGING PLAN

 

The Interserve Board notes today's Sky News article and confirms that it has been in discussions with Coltrane and its lenders which have sought to establish the basis on which Coltrane would support the company's restructuring proposal.

 

Although the Board is seeking to improve the position of all shareholders, there is no certainty that it will be able to do so in the very limited time available.

 

The only proposal which is currently capable of being implemented is the recommended Deleveraging Plan through which, inter alia, shareholders will retain 5% of the equity of the restructured Interserve with the ability to acquire further equity through the open offer.

 

Ends

 

This announcement contains forward-looking statements in respect of Interserve, its group and its Deleveraging Plan. By their nature, these statements involve uncertainty, known and unknown risks and other factors and therefore assurance cannot be given that any particular expectation will be met.  

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION RELATING TO INTERSERVE PLC.

LEI No: 549300MVYY4EZCRFHZ09

 

For further information, please contact

Jonathan Refoy +44 (0) 7880 315877

Interserve plc

 

Martin Robinson +44 (0) 207 3534200

Lisa Jarrett-Kerr

Tulchan Communications

 

About Interserve

 

Interserve is one of the world's foremost support services and construction companies. Everything we do is shaped by our core values. We are a leader in innovative and sustainable outcomes for our clients and a great place to work for our people. We offer advice, design, construction, equipment, facilities management and frontline public services. We are headquartered in the UK and FTSE-listed. We have consolidated revenues of £2.9bn and a workforce of circa 68,000 people worldwide.

www.interserve.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
STRJBMRTMBTBBIL
Date   Source Headline
15th Mar 20196:27 pmRNSInterserve
15th Mar 20195:56 pmRNSSuccessful completion of sale of the Group
15th Mar 20192:47 pmRNSHolding(s) in Company
15th Mar 20192:01 pmRNSParent Company Administration
15th Mar 201912:33 pmRNSResult of General Meeting
14th Mar 201911:41 amRNSTotal Voting Rights and Warrant Update
14th Mar 20199:18 amRNSDirector/PDMR Shareholding
12th Mar 20198:30 amRNSBlock Listing Application
11th Mar 20195:27 pmRNSResponse to media reports re Deleveraging Plan
5th Mar 201912:56 pmRNSResponse to proposal Coltrane Asset Management L.P
4th Mar 20196:03 pmRNSUpdate on Coltrane Asset Management L.P Proposal
28th Feb 20199:58 amRNSPublication of a Prospectus
27th Feb 20199:05 amRNSDeleveraging Plan details and launch
27th Feb 20198:58 amRNSFull Year Results 2018
26th Feb 20194:17 pmRNSNotice of Requisition General Meeting
22nd Feb 20193:54 pmRNSHolding(s) in Company
22nd Feb 20193:50 pmRNSUpdate on Deleveraging Plan
20th Feb 20199:56 amRNSHolding(s) in Company
19th Feb 201910:13 amRNSHolding(s) in Company
13th Feb 20194:25 pmRNSDirector/PDMR Shareholding
12th Feb 20197:00 amRNSDirectorate Change
6th Feb 20197:10 amRNSStatement re Shareholder Requisition
6th Feb 20197:00 amRNSStatement re Deleveraging Plan
24th Jan 201912:07 pmRNSSecond Price Monitoring Extn
24th Jan 201912:02 pmRNSPrice Monitoring Extension
16th Jan 20191:14 pmRNSDirector/PDMR Shareholding
14th Jan 20194:41 pmRNSSecond Price Monitoring Extn
14th Jan 20194:36 pmRNSPrice Monitoring Extension
2nd Jan 201912:30 pmRNSHolding(s) in Company
2nd Jan 20197:00 amRNSBlock listing Interim Review
28th Dec 20184:20 pmRNSHolding(s) in Company
21st Dec 20187:00 amRNSProgress on Deleveraging Plan
17th Dec 20182:52 pmRNSDirector/PDMR Shareholding
10th Dec 20189:30 amRNSInterserve Awarded £25m Contract.
10th Dec 20187:00 amRNSDELEVERAGING PLAN
29th Nov 20182:30 pmRNSHolding(s) in Company
28th Nov 201810:50 amRNSHolding(s) in Company
27th Nov 20183:59 pmRNSHolding(s) in Company
23rd Nov 20182:07 pmRNSHolding(s) in Company
23rd Nov 20187:00 amRNS3rd Quarter Update
16th Nov 20184:12 pmRNSHolding(s) in Company
16th Nov 20184:09 pmRNSHolding(s) in Company
13th Nov 20182:50 pmRNSStatement following recent press coverage
13th Nov 201811:00 amRNSDirector/PDMR Shareholding
23rd Oct 201811:03 amRNSHolding(s) in Company
22nd Oct 20184:27 pmRNSHolding(s) in Company
17th Oct 20189:04 amRNSDirector/PDMR Shareholding
2nd Oct 20187:00 amRNSSALE OF ACCESS AND HARD SERVICES BUSINESS
1st Oct 20189:27 amRNSHolding(s) in Company
14th Sep 20189:58 amRNSDirector/PDMR Shareholding

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