Sinclair (William) Holdings PLC Update re Transformation Plan (1670O)

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RNS Number : 1670O

Sinclair (William) Holdings PLC

26 May 2015

WILLIAM SINCLAIR HOLDINGS PLC

("William Sinclair" or "the Group")

Further re Transformation Plan

The Company announced the launch of a transformation programme on 5 March 2015 and subsequently an update on 30 April 2015. Having undertaken a detailed review of the business, the new management team is now addressing areas of operations and particular customer contracts which are not profitable. This process has led to a very detailed budgeting review which has revealed that the Company will face a funding shortfall during the summer. The directors are considering a number of strategic options which may include raising capital, disposal of assets and more aggressive operational changes to resolve the matter. The directors are, however, confident that, with funding, the Transformation Plan will lead to the necessary operational improvement needed for the long term success of the business.

ENDS

Enquiries:

   William Sinclair Holdings PLC                        Tel:  [phone] 

Rupert King, Chairman

WH Ireland Limited

   Andrew Kitchingman                                         Tel:  [phone] 

Paul Shackleton

Liam Gribben

This information is provided by RNS

The company news service from the London Stock Exchange

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