Key Developments: G4S PLC (GFS.L)

GFS.L on London Stock Exchange

256.40GBp
30 Jul 2014
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-1.50p (-0.58%)
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Latest Key Developments (Source: Significant Developments)

G4S Plc announces sale of G4S Secure Solutions AB to Sector Alarm
Thursday, 17 Jul 2014 03:05am EDT 

G4S Plc:Agrees sale of G4S Sweden to Sverige AS (Sector Alarm).For total consideration of 438 mln Swedish crown (37.4 mln pounds at current exchange rates) including cash and debt.G4S Sweden provides manned security and security systems to customers across Sweden.  Full Article

G4S Plc updates on dividend date
Wednesday, 7 May 2014 02:00am EDT 

G4S Plc:Final dividend of 5.54 pence per share is proposed for payment on June 13.  Full Article

G4S plc reaches agreement with Ministry of Justice
Wednesday, 12 Mar 2014 08:26am EDT 

G4S Plc:Reaches agreement with the Ministry of Justice (MoJ) on a settlement in respect of claims arising in relation to Electronic Monitoring (EM) services provided by G4S Care & Justice Services (UK) Ltd in England and Wales between 2005 and 2013.The agreement provides for a refund to the MoJ of 96.4 million British pounds (excluding VAT) and a reimbursement of costs totalling 12.5 million pounds.In addition to the settlement amount, G4S incurred external investigation and advisory costs of 5 million pounds.Total settlement amount is 108.9 million pounds (excluding VAT) and is expected to comprise a cash payment of 75.9 million pounds and credits for services previously provided of 33 million pounds.  Full Article

G4S Plc board proposes dividend
Wednesday, 12 Mar 2014 03:39am EDT 

G4S Plc:To pay final dividend unchanged at 5.54 pence Danish crown 0.4954, total dividend for the year of 8.96 pence.  Full Article

Ministry of Justice comments on Serious Fraud Office's investigation against G4S Plc
Thursday, 19 Dec 2013 06:47am EST 

G4S Plc:Notes the announcements and statements made by the Ministry of Justice (MoJ) and the Cabinet Office after an extensive review of the company's major contracts since July 2013.Says no significant issues have been identified, with the exception of two court facilities management (FM) contracts.Notes the decision by the MoJ to refer the court FM contracts to the Serious Fraud Office (SFO) to consider whether it should investigate matters related to these contracts.Says it has been advised by the MoJ that the Ministry does not have any evidence of dishonesty in relation to these contracts.  Full Article

G4S Plc Announces Update on Electronic Monitoring Contracts
Tuesday, 19 Nov 2013 05:40am EST 

G4S Plc announced the following update in relation to billings made for electronic monitoring (EM) services provided by G4S Care & Justice Services (UK) Ltd (G4SCJS) in England and Wales between 2005 and 2013. In June 2013, G4S Plc engaged law firm Linklaters LLP, to perform an independent review into the conduct of G4S Plc employees in relation to billing under the EM contract and to assess whether there was any evidence of dishonesty or criminal conduct. Linklaters has conducted a search and review of emails and numerous interviews with relevant employees and has not identified any evidence of dishonesty or criminal conduct by any employee of G4S Plc in relation to the billing arrangements under the EM contracts. The review has confirmed that, in certain circumstances, G4SCJS wrongly considered itself to be contractually entitled to bill for monitoring services when equipment had not been fitted or after it had been removed. The Company has apologized to the Ministry of Justice (the Ministry) and issued credit notes totaling GBP 23.3 million for amounts incorrectly billed between 2005 and May 2013. A further credit note of GBP 0.8 million will be issued for billings for the period from June 2013 to date. In addition, G4S has incurred external investigation costs of around GBP 2 million. The Ministry is conducting an audit in relation to EM billings and the Company's assessment of these matters and the credit notes may not agree with the Ministry's audit findings.  Full Article

G4S Plc Announces Revamp, Job Losses As New CEO Starts Turnaround-Reuters
Tuesday, 5 Nov 2013 03:49am EST 

Reuters reported that G4S Plc would shake up failing parts of business and lay off up to 400 jobs as the new boss of the security firm looks to improve fortunes after a series of high profile blunders. The revamp comes as G4S battles to repair relationship with Britain's government. Recent blunders include failure to properly staff the 2012 London Olympics and a electronic tagging contract now under investigation by the fraud office.  Full Article

Director of Serious Fraud Office Opens Investigation against G4S Plc
Monday, 4 Nov 2013 05:58am EST 

G4S Plc announced that the Company confirms that it has received notice that the Director of the Serious Fraud Office has opened an investigation into the "contract for the provision of electronic monitoring services which commenced in April 2005 as amended and extended until the present day". G4S has confirmed to the SFO that it will co-operate fully with the investigation.  Full Article

G4S Plc Rejects $2.5 Billion Charterhouse Offer For Cash Solutions Unit-Reuters
Monday, 28 Oct 2013 03:38am EDT 

Reuters reported that G4S Plc said it had rejected a GBP1.55 billion ($2.5 billion) offer for its cash solutions business from British private equity group Charterhouse Capital Partners, saying the bid undervalued the unit.  Full Article

G4S Plc Rejects Charterhouse Capital Partners LLP Offer for Cash Solutions Business
Monday, 28 Oct 2013 02:57am EDT 

G4S Plc announced that on October 22, 2013 the Company received a non-binding, indicative and conditional offer of GBP 1,550 million from Charterhouse Capital Partners LLP for its cash solutions business. The non-binding offer is subject to due diligence and financing and free of cash, debt, tax and pension liabilities. The Board considers the Group's cash solutions services to be core to G4S' operations and strategic plans. The Board regards the nature and timing of the approach to be opportunistic and, following due consideration, with the assistance of financial advisers, the offer has been firmly rejected considering the strategic importance of the cash solutions businesses to G4S and because the Board believes the conditional offer fundamentally undervalues the business and its prospects. The Company does not intend to pursue this non-binding, conditional offer and has notified Charterhouse Capital Partners LLP.  Full Article

BRIEF-G4S sells Swedish security business for 37.4 mln stg

* Sale of G4S Secure Solutions Ab ("G4S SWEDEN") to Sector Alarm Sverige As

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