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GC Asia
Interserve files for administration after shareholders reject debt for equity swap
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 ...Please take a trial or subscribe to access this content.
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