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Share issue nets London fire engine owner £16m

first_img Tags: NULL Share issue nets London fire engine owner £16m whatsapp Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo whatsapp Thursday 3 March 2011 7:20 pmcenter_img KCS-content THE OWNER of London’s fire engines, AssetCo, has successfully raised £16m through a new share placement in order to tackle its debt problems.The outsourcing firm, which maintains the capital’s fire engines, was facing serious financial problems and a High Court winding-up petition.However, the new placement of 160m ordinary shares, underwritten by Arden Partners, will cut its bank debts to about £3.9m by the end of this year.The issuance leaves shares in the firm massively diluted, with shares closing down at 12p yesterday.The chairman, chief executive and finance director will now be changed.Arden analyst Geoff Allum said: “There are no problems with the operation of this company, the problem has been with financial management of its balance sheets. The share price is going to shoot up now, if it doesn’t recover pretty rapidly there are bidders out there and they wont go away.” Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap last_img read more

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