The initiatives, according to the Evening Standard, could also involve asset write-downs of more than £100m. It has decided to transfer the controversial minority interest preference shares (Mips) onto its overdraft.
Announced today the move is likely to please investors, after one analyst described the controversial financial instrument as a ticking bomb in MyTravel’s accounts’.
Chief executive, Peter McHugh, is locked in a compaign to shore-up the company’s finances. He has succeeded in extending the £1.15bn lending facility, in order to give the group more breathing space.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars