Stock Market News
Carillion collapse to have no material impact on John Laing Infrastructure
John Laing Infrastructure Fund updated the market on the impact of the liquidation of Carillion on Monday, saying that its investment adviser John Laing Capital Management was implementing its contingency plans to replace Carillion as facilities management provider on the nine JLIF projects.
The FTSE 250 company said it expected that to occur on similar terms to the existing contracts within the projects.
It said the investment adviser anticipated that there would be "minimal" service disruption, however it initially expected additional advisory and transaction costs in respect of the appointment of replacement facilities managers to cost approximately £3m in aggregate.
"JLIF reiterates that it has no projects currently in construction where Carillion is the contractor," the board said in its statement.
"JLIF owns one project where Carillion is still liable for any construction defects found on the project, with the construction period having completed over 10 years ago.
"JLIF reiterates that a recently completed routine defects survey has not highlighted any significant areas of concern."
The investment adviser reportedly believed that the compulsory liquidation of Carillion should have no material impact on the company, and no impact on the company's dividend policy.
John Laing Infrastructure Fund said it would continue to manage the situation as it developed, and provide further updates as appropriate.
The FTSE 250 company said it expected that to occur on similar terms to the existing contracts within the projects.
It said the investment adviser anticipated that there would be "minimal" service disruption, however it initially expected additional advisory and transaction costs in respect of the appointment of replacement facilities managers to cost approximately £3m in aggregate.
"JLIF reiterates that it has no projects currently in construction where Carillion is the contractor," the board said in its statement.
"JLIF owns one project where Carillion is still liable for any construction defects found on the project, with the construction period having completed over 10 years ago.
"JLIF reiterates that a recently completed routine defects survey has not highlighted any significant areas of concern."
The investment adviser reportedly believed that the compulsory liquidation of Carillion should have no material impact on the company, and no impact on the company's dividend policy.
John Laing Infrastructure Fund said it would continue to manage the situation as it developed, and provide further updates as appropriate.
Related share prices |
---|
John Laing Infrastructure Fund Ltd (JLIF) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price