Go-Ahead to suspend share trading as Southeastern investigations continue
theguardian.comTransport group Go-Ahead has postponed its financial results and is preparing to suspend trading in its shares as negotiations continue over a missing £25m amounting to “serious breaches” at Southeastern railways.
Shares plunged by 25% on Thursday after the news. The bus and rail operator was stripped of the contract to operate the commuter network in September after the government uncovered discrepancies running over several years since 2014.
The transport secretary, Grant Shapps, said at the time that an investigation had found that since 2014 Southeastern had not declared more than £25m of historical taxpayer funding that should have been returned, and described this as a serious breach of the franchise agreement’s “good faith” obligation.
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