Roofing materials and insulation specialist distributors SIG are to consider a range of options, including raising extra capital.
In answer to press speculation the board issued the following announcement: “The Board of SIG plc (“the Company”) notes the recent press speculation relating to a potential capital raising.
“The Board confirms that it is considering a range of options including a
potential equity raising. A further announcement will be made as and when appropriate.”
The company closed 80 branches in January with loss of 1,000 jobs and at the time told the Stock Exchange that “the continuing economic and financial conditions have implications for demand and activity in construction markets through the liquidity and credit issues which are set to prevail in 2009.
“While the impact will continue to vary from country to country, the company is mindful that trading could become more challenging also in those geographies which until now have continued to show solidity.”