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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.

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