28th Aug 2013 06:39
CRAWLEY (Alliance News) - UK-based private security firm G4S Plc (GFS.L, GFSZY.PK) announced that it plans to raise additional equity capital through a placing of up to approximately 140.9 million new ordinary shares of 25 pence each in the capital of the company, representing up to 9.99 per cent. of the company's existing issued share capital.
The company also announced the agreed sale of two businesses for proceeds of approximately 100 million pounds, to be received upon closing. Other anticipated disposals, including the sale of the US Government Solutions business and the regulated secure solutions business, are expected to raise approximately a further 150 million pounds.
The company stated that its board has determined that it is appropriate for the company to raise equity capital by way of a placing to further strengthen the balance sheet and provide the foundation to help deliver sustainable, profitable growth.
Copyright RTT News/dpa-AFX
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