ARTICLES RELATING TO GROUP FIVE

No replacement in the pipeline as Group Five interim CEO calls it a day

2019-10-08 11:29

Group Five Limited and its operating subsidiary Group Five Construction entered into business rescue in March 2019 following major financial losses.

Group Five business rescue expected to save up to 3 500 jobs

2019-09-02 20:57

Group Five's business rescue plan will be executed in two phases and potentially save 3 000 to 3 500 jobs - but a large number of retrenchments are still expected, say business rescue practitioners.

Group Five puts three units up for sale in business rescue plan

2019-05-06 20:09

Group Five is preparing a sale of three of its biggest subsidiaries as the former South African construction giant strives to salvage what it can from bankruptcy proceedings

Group Five budgets for R233m in retrenchment pay as it enters business rescue

2019-03-15 10:44

The engineering and construction group has entered a form of bankruptcy protection known as business rescue and had its stock suspended from trading on the JSE.

Group Five enters bankruptcy protection; listing suspended on JSE

2019-03-12 11:06

The engineering and construction group has entered a form of bankruptcy protection known as business rescue and had its stock suspended from trading on the JSE.

Group Five results hit by major loss in Ghana

2018-10-02 14:14

Diversified construction company Group Five has performed "materially below expectations" during the past financial year after significant losses on a major contract in Ghana.

Group Five settles on new board after spat - report

2017-07-24 16:47

Shareholders have reached a compromise on Group Five's new board, selected at an extraordinary general meeting.

War breaks out at Group Five

2017-06-25 07:42

Five nonexecutive directors resign amid proposals for a fresh start, as a battle brews over new board members.

Group Five cautions about expected loss

2017-02-09 17:45

Group Five expects to report a loss per share and headline loss per share of at least 170 cents per share for the six months to December 2016.

Group Five shares rally on upbeat trade update

2016-08-01 13:26

Group Five's share price has rallied over 7% after the construction firm said it expects fully diluted headline earnings per share to be up to 70% higher than before.

 

Group Five creditors choose business rescue over liquidation

2019-09-11 19:13

The majority of creditors of construction and engineering company Group Five, have voted in favour of the business rescue plan proposed by practitioners overseeing the process.

More woes for Group Five as auditor resigns

2019-07-03 15:34

Group Five's external auditor PwC has resigned from the construction company, which is in business rescue.

Exxaro to cut ties with Group Five; 740 contract workers at risk

2019-03-22 08:22

Exxaro has said that the construction of a new small coal plant at its Grootegeluk mine in Limpopo would be delayed after it terminated its agreement with Group Five Projects, a subsidiary of Group Five Construction.

Group Five collapse signals SA construction demise

2019-03-12 18:59

South Africa’s construction industry is being demolished, says Janice Kew.

Group Five expects more jobs losses in EPC cluster

2018-10-03 22:13

Diversified construction company Group Five expects further retrenchments mainly within its Engineer, Construct and Procurement cluster, a spokesperson told Fin24.

New Group Five board expects even greater loss

2017-08-14 17:06

Group Five’s new board, complete with a new chairperson, amended its expected headline earnings per share loss for the year ended 30 June 2017 from R5.90 to R8.70.

PIC ups stake in Group Five amid leadership tussle

2017-07-17 16:35

The PIC has raised its stake in Group Five amid a leadership tussle edging, closer to majority shareholder Allan Gray (25% stake).

Extraordinary meeting called at Group Five

2017-05-18 18:09

Group Five has been notified by a shareholder that it seeks to call an extraordinary general meeting to reconstitute the board of directors.

Group Five's profit up 64%

2016-08-15 12:19

The construction firm Group Five has reported a 64% rise in profits, helped by a strong showing at its toll roads business in Hungary and Poland.

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