Galliford Try clarification
CJ wishes to make a number of clarifications regarding the story
Galliford Try chief must talk to Rok (CJ 15 October).
The article referred to Galliford's "lacklustre share price". Since
April 2003, the company's shares have actually risen by 133%.
It suggested institutional shareholders had "seen millions wiped of
the value of their investments". It should have said that if an
offer was not to go ahead, then investors would not get the
corresponding uplift in share price.
Finally it said that prospects of a management buy-out by
construction managing director Andy Sturgess had been quashed. CJ
is happy to point out that Sturgess has always denied he has any
intention to lead an MBO.