Plus   Neg

G4S Urges Shareholders To Take No Action In Relation To GardaWorld's Offer - Quick Facts

G4S plc (GFSZY.PK,GFS.L) published its second defence circular in relation to the unsolicited offer for G4S made by Garda World. The Group stated that it is now well-positioned to accelerate sustainable profitable growth, and is confident that it will deliver financial targets including free cash flow in excess of 1 billion pounds from 2021 to 2025. The directors of the Group will not be accepting GardaWorld's offer in respect of their own beneficial shareholdings.

John Connolly, Chairman of G4S, said: "The GardaWorld offer does not remotely reflect G4S's fundamental value, let alone its value to GardaWorld and BC Partners. We urge shareholders to take no action in relation to GardaWorld's offer."

The Group is confident in achieving its financial targets, including: revenue growth of 4-6% per annum; profit margin expansion to 7% in the medium term; free cash flow in excess of 1 billion pounds from 2021-2025; and leverage of 2.0-2.5x.

The Board said it intends to resume dividends from 2021 onwards, in line with existing dividend policy of attaining 2.0x cover.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Goldman Sachs Group Inc. cut Chairman and Chief Executive Officer David Solomon's fiscal 2020 pay by $10 million as a penalty for the bank's role in 1Malaysia Development Berhad or 1MDB bribery scandal. In a filing with the U.S. Securities and Exchange Commission, the bank said it has also cut payments of President and Chief Operating Officer John Waldron, and Chief Financial Officer Stephen Scher Facebook has rolled out the Facebook News feature for users across the United Kingdom, the only destination outside the United States to get the feature. Facebook News comes as a tab in the Android or iOS version of the Facebook app that will feature news from hundreds of leading national, local and lifestyle outlets. General Electric Co. (GE) Tuesday reported a surge in its fourth-quarter profit. However, total revenues for the quarter dropped 16 percent from the prior year. But quarterly revenues beat analysts' estimates.
Follow RTT