"All the options being considered will result in there being only limited value for existing shareholders" said Mouchel as it updated the market on trading and its struggle to get its debts under control.
IC TIP:
Sell
at
4.1p
The infrastructure group is still reviewing its restructuring options and it has not ruled out an equity fund raising to repair its battered balance sheet. Management increased the cost saving target by £3m to £21m, but added that while the Middle East business was now break even, it had incurred £2m in one-off costs to achieve this.
