Carillion's former finance director sold shares in the UK construction company worth about £776,000 ($1.1 million) months before it imploded, according to parliamentary committees.
Richard Adam cashed in shares for £534,000 in March 2017, less than three months after he retired, and then sold long-term incentive awards in May last year on the day they vested for £242,000, the committees said, citing a letter from the former Carillion official.
Carillion’s collapse in January left behind debts of about 1.6 billion pounds and triggered a debate in Britain about the extent to which the government relies on businesses to provide public services and build infrastructure including schools, libraries and roads.
_______________
Read more:
UK's Carillion collapses as banks refuse to lend more money
Carillion collapse lays bare UK government contracting problems
Former executive ‘unearthed major problems at Carillion’
‘Business as usual’ in UAE despite liquidation of UK construction firm Carillion
_______________
The company’s fall gathered pace last July after a series of construction contracts soured. Three profit warnings in about half a year caused its shares to plummet.
Zafar Khan became finance director in late 2016, replacing Adam, but he left the company several months later. The work and pensions committee and the business, energy and industrial strategy committee are publishing responses from Adam and Khan following evidence given to Parliament earlier this month.
While you're here
While you're here
National Editorial: Biden's reset on the Palestine-Israel peace process
Joyce Karam: 'The National' obtains US official document for Palestinian ‘reset’
Hussein Ibish: Biden faces an uphill battle for Palestine, and it starts in East Jerusalem
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
COMPANY%20PROFILE%20
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The advice provided in our columns does not constitute legal advice and is provided for information only. Readers are encouraged to seek independent legal advice.
World Mental Health Day
Teenage%20Mutant%20Ninja%20Turtles%3A%20Shredder's%20Revenge
Company%20Profile
Company%20Profile
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
The%20specs%3A%202024%20Mercedes%20E200
Specs%3A%202024%20McLaren%20Artura%20Spider
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP5
12%20restaurants%20opening%20at%20the%20hotel%20this%20month
COMPANY PROFILE
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
COMPANY%20PROFILE
COMPANY PROFILE
More on animal trafficking
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
SPECS
The specs
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
COMPANY%20PROFILE
Profile box
Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
The National Editorial: Is there much to celebrate on International Women's Day 2021?
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
The biog
Title: General Practitioner with a speciality in cardiology
Previous jobs: Worked in well-known hospitals Jaslok and Breach Candy in Mumbai, India
Education: Medical degree from the Government Medical College in Nagpur
How it all began: opened his first clinic in Ajman in 1993
Family: a 90-year-old mother, wife and two daughters
Remembers a time when medicines from India were purchased per kilo
COMPANY PROFILE
Origin
Dan Brown
Doubleday
Jigra
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5