FirstGroup fails in bid to renew ScotRail franchise October 8, 2014 First Group will not continue to run the ScotRail route, the transport operator has announced. In a statement released this morning the company, which does business both in the UK and North America, said it was disappointed not to have retained the contract and pointed to "our record of improvement across every measurable score". The [...]
FirstGroup share price hit by critical letter from investor Tom Sandell June 30, 2014 FirstGroup shares fell 2.69 per cent to 126.60p yesterday, following high profile criticism of management pay at the rail and bus company by activist investor Tom Sandell. The comments in an open letter said that management had “significantly underperformed” and had increased remuneration was not “deserved”. However, yesterday sources close to the company raised doubts [...]
FirstGroup puts the brakes on new dividends May 21, 2014 TRANSPORT firm FirstGroup has swung back to profit in the past year, but the board has delayed a return to dividend payments while it builds up its finances. The company, which raised £584m in a rights issue last year to defend its credit rating, said it had made “satisfactory” progress in spite of tough winter [...]
FirstGroup rebel won’t go away December 11, 2013 THE US hedge fund demanding radical change at FirstGroup, the transport company, pledged to keep up the pressure despite having its plans for change snubbed by the group’s board. “We’re not going away,” said Tom Sandell yesterday in an interview with Morning Wire, hours after a FirstGroup statement described its plan to split off the [...]