20/06/2014 - 13:14

UGL to give back to shareholders

20/06/2014 - 13:14

Bookmark

Save articles for future reference.

Property services and engineering company UGL has clarified that it intends to return surplus net proceeds from the sale of DTZ to shareholders following completion of the transaction and after the pay down of debt.

UGL to give back to shareholders
UGL chairman Trevor Rowe with managing director and CEO Richard Leupen

Property services and engineering company UGL has clarified its intention to return surplus net proceeds from the sale of DTZ to shareholders following completion of the transaction and after the pay down of debt. 

It was earlier speculated that UGL would acquire John Holland if it were to be sold by Leighton Holdings, however options are still being reviewed. 

UGL says it is working through a process to determine the appropriate capital structure for the company subsequent to the sale of DTZ.

Following the sale, UGL expects its capital structure will be in line with its engineering and maintenance services peers, providing the company with a robust balance sheet and the flexibility to fund future growth opportunities.

A range of options is currently being evaluated to determine the most efficient form of returning surplus funds to shareholders.

UGL’s share price rose by 1.5 per cent to $6.71 at 1:00pm WST. 

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options