29th Jan 2007 08:15
29 January 2007
GROUP 4 SECURICOR PLC Financial support in connection with a general offer for Malaysian Joint Venture partner
Group 4 Securicor ("G4S"), the international security solutions group, announces that it has entered into an agreement with Eighth Jewels Systems Sdn Bhd ("Eighth Jewels"). The agreement provides for G4S to act as financial guarantor in respect of the public offer by Eighth Jewels for all of the outstanding shares and warrants in Safeguards Corporation Berhad ("SCB"), a company listed on the Main Board of Bursa Malaysia Securities Berhad in Kuala Lumpur.
SCB's principal subsidiary is Safeguards Securicor Sdn Bhd ("SSSB"), Malaysia's leading security solutions provider and a joint venture between SCB (51% shareholding) and G4S (49% shareholding).
The G4S guarantee will be for a term of 12 months, with all shares and warrants acquired under the public offer serving as collateral. There will be no change in G4S's shareholding in SSSB. However, G4S will, under the agreement, exercise management and operational control of SSSB for a period of 12 months.
Other than the provision of the guarantee, there will be no financial or accounting implications for G4S arising out of the agreement with Eighth Jewels.
For further enquiries, please contact:
Nick Buckles +44 (0)1293 554400
Trevor DightonDebbie McGrathRob GurnerMedia enquiries:
Kevin Smith, Citigate Dewe Rogerson +44 (0) 7973 672649
Notes to Editors:
Group 4 Securicor operates in over 100 countries throughout the world and employs around 430,000 people. It is a market leader in the provision of security solutions in many of the countries in which it operates. For more information on Group 4 Securicor please visit www.g4s.com.
GROUP 4 SECURICOR PLCRelated Shares:
GFS.L