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28/07/2010
Connaught Faces Second FSA Investigation
The Financial Services authority (FSA) is probing integrated services provider Connaught after its shares dropped by 75%.
The City watchdog is investigating whether Connaught failed to disclose its terrible financial situation to investors ahead of last months shock profits warning.
The social housing maintenance firm has also admitted it is about to breach its overdraft terms.
Yesterday, Connaught announced that its shares had slumped to 31.46p, the second time in a month the firm's shares had fallen.
The company is also believed to be looking at job cuts to reduce its debt.
For further information Visit: Connaught Shares Freefall
(CD)
The City watchdog is investigating whether Connaught failed to disclose its terrible financial situation to investors ahead of last months shock profits warning.
The social housing maintenance firm has also admitted it is about to breach its overdraft terms.
Yesterday, Connaught announced that its shares had slumped to 31.46p, the second time in a month the firm's shares had fallen.
The company is also believed to be looking at job cuts to reduce its debt.
For further information Visit: Connaught Shares Freefall
(CD)
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