Interserve’s vote – teetering on the edge

By Chloë McCulloch2019-03-13T06:00:00

A crucial shareholder vote on Friday for the contractor in crisis

How did it come to Friday’s stark choice for Interserve’s shareholders? Either vote for the bosses’ debt-for-equity rescue plan and retain ownership of not very much, or vote it down and lose everything as the company is forced into administration. Not much of a choice, you might say, but major shareholder Coltrane is adamant its alternative plan is better and so the prospect of a revolt has become a real one. Of course, depending on when you read this you will know which way shareholders have jumped – and if company executives can breathe a sigh of relief or will have to spend their weekend triggering a pre-pack for Monday.

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