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03/01/2018

FCA Probes Carillion's Stock Market Announcements

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The Financial Conduct Authority (FCA) has launched an investigation into recent stock market announcements issued by Carillion.

The contractor, which issued three profit warnings last year, said: "The Financial Conduct Authority (the "FCA") has notified Carillion plc ("Carillion") that it has commenced an investigation in connection with the timeliness and content of announcements made by Carillion between 7 December 2016 and 10 July 2017."

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Between December 2016 and 10 July 2017, Carillion's share price dropped more than 70% and led to the departure of Chief Executive Richard Howson.

Former Wates Chief Executive, Andrew Davies, is set to take over at the company from 22 January.

(LM/MH)

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