Situation

• Declining financial performance and operational stress
• Increasing shareholder disagreement and resultant management restrictions
• Strategic real estate investments not yet cash generative
• Interest from private equity investors
   

Actions

• Provision of interim CFO, implementation of financial controls and introduction of cost accounting and margin analysis
• Mediation between rival shareholder groups
• Litigation standstill and business stabilisation 
• Engagement with Group's bankers
   

Outcome

• Renegotiation of banking facilities and removal from special situations group
• Share for assets buyout of one shareholder group
• Full withdrawal of all civil actions and criminal claims
• Re-engagement with private equity investors and strategic partners for growth and exit
• Strategic advisory for the transformation