Progress on completion of conventional cash transaction

G4S, the leading global security company is pleased to report that it has now completed and received approximately 75% of the proceeds anticipated from the sale of its conventional cash businesses to The Brink’s Company (“Brink’s”) that was announced on 26 February 2020.
Cash

Under the agreement with Brink’s, the Group has sold the majority of its conventional cash businesses for an enterprise value of £727 million, with expected net cash proceeds of approximately £670 million. The substantial majority of the remaining completions are scheduled to occur during 2020.

The sale of the majority of the conventional cash businesses greatly enhances the Group’s strategic, commercial and operational focus and strengthens further its financial position.

At 31 March 2020 the Group had liquid resources of £1.1 billion comprising cash, cash equivalents and bank overdrafts of £0.6 billion and committed, unutilised credit facilities of £0.5 billion.  This liquidity has been enhanced further subsequent to the first quarter through the receipt of around £0.5 billion of disposal proceeds in respect of the sale of the conventional cash businesses. 
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