Kier Group PLC (KIE.L)
15 Feb 2019
Kier Group Chief Executive Haydn Mursell is leaving the British builder with immediate effect, the company said on Tuesday, a month after many of its shareholders refused to buy into a new issue of stock.
* UK outsourcing firms struggling after Carillion collapse (Adds details, shares)
Jan 22 Kier Group said Chief Executive Haydn Mursell would leave with immediate effect, a month after a lacklustre share issue by the British builder that highlighted tough times for the construction sector.
CORRECTED-BRIEF-Woodford Investment Management's Stake In Kier Group Falls To 13.58 Pct From 15.40 Pct - Filing
* WOODFORD INVESTMENT MANAGEMENT'S STAKE IN KIER GROUP FALLS TO 13.58 PCT FROM 15.40 PCT AFTER RIGHTS ISSUE - FILING Source text for Eikon: Further company coverage:
(This Dec 21 story corrects to make clear why the stake has fallen, in headline and paragraphs 1 and 2.)
Dec 21 Woodford Investment Management, the investment house owned by influential fund manager Neil Woodford, saw its stake in troubled British builder Kier Group Plc fall after it did not take up all its rights in a share issue, a regulatory filing showed on Friday.
* Woodford takes up only half of rights from issue- source (Adds details on debt, banks, investors)
Dec 20 Kier Group said it had been informed by the joint bookrunners of its rights offer that it was unlikely any investors would by Friday buy into the share sale even at the heavily discounted 409 pence per share price tag.
BRIEF-Kier Says Bookrunners Think Unlikely Subscribers Can Be Procured At 409 P/Share For Rump Placing
* BLOCKTRADE: KIER - BOOKRUNNERS OF OPINION IT IS UNLIKELY THAT SUBSCRIBERS CAN BE PROCURED AT A PRICE PER NEW SHARE WHICH IS AT LEAST EQUAL TO 409 PENCE/NEW SHARE
Investors took up just 38 percent of British builder Kier Group's share issue on Thursday, highlighting growing nervousness about the construction and outsourcing sectors following the collapse of rival Carillion this year.
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