Costain talking with potential big investor
Costain, which yesterday called for its shares to be suspended, is having talks with a potential south east Asian investor considering purchasing a large stake in the UK construction group. The sale of a large stake, thought to be less than 50%, would involve Costain issuing a large amount of new equity which would require shareholder approval. The company is also negotiating the sale of its remaining UK coal interests, thought to be at an advance stage. The company has asked the stock exchange for permission to extend the deadline for publishing its annual results pending the developments. Its share price slumped 44.3% in a few hours trading just before suspension.
- Financial Times 27/6/96 page 17
- The Times 27/6/96 page 25, page 29 (Tempus)
- The Independent 27/6/96 page 18, page 19 (Comment)
- The Daily Telegraph 27/6/96 page 19
Costain, which yesterday called for its shares to be suspended, is having talks with a potential south east Asian investor considering purchasing a large stake in the UK construction group. The sale of a large stake, thought to be less than 50%, would involve Costain issuing a large amount of new equity which would require shareholder approval. The company is also negotiating the sale of its remaining UK coal interests, thought to be at an advance stage. The company has asked the stock exchange for permission to extend the deadline for publishing its annual results pending the developments. Its share price slumped 44.3% in a few hours trading just before suspension.
Financial Times 27/6/96 page 17
The Times 27/6/96 page 25, page 29 (Tempus)
The Independent 27/6/96 page 18, page 19 (Comment)
The Daily Telegraph 27/6/96 page 19
