Construction News

03/01/2018

FCA Probes Carillion's Stock Market Announcements

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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