Half Year 2019 Bovis Homes Group PLC Earnings Call Transcript
Good morning, everyone, and welcome to our half year results to June 2019 presentation. But before we start, I will do an intro script, which would be the only thing I actually read. So this is all being done at the last minute as it were. So before we go on to the half year results, let me briefly comment on the other announcement that we made this morning. We have reengaged in discussions with Galliford Try via the potential combination of our housing businesses, so a combination of Bovis Homes with Linden Homes and Galliford Try Partnerships and Regeneration business. This would leave Galliford Try construction business as a stand-alone entity.
In the statement, we have outlined the agreed high-level terms on which the potential transaction would be implemented with a valuation of GT's housing businesses at GBP 1.075 billion. This is expected to be funding through the issue of Bovis shares and Galliford Try shareholders to the value of GBP 675 million. The payment of GBP 300 million in cash and the transfer of
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