Interserve files for administration after shareholders reject debt for equity swap

Interserve PA 230x150
By Aidan Gregory
15 Mar 2019

Interserve, one of the largest outsourcing companies in the UK, plans to file for administration after shareholders rejected a proposed debt for equity swap at a general meeting on Friday.

Shares in the company plunged 34% to 6.3p on the London Stock Exchange before being suspended at lunchtime, giving the company a market capitalisation of just £10m. A year ago, it was trading at around 60p.

The debt for equity swap announced by Interserve in December was ...

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