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21Oct93 UK: TH KEEPS QUIET ON DESTINATION OF CASH.

By Bill Fishlock.The news that Trafalgar House is tapping shareholders for a further £400 million to tone up its financial muscles should, on balance, be welcomed.The company, Britain's largest contractor, can hardly be expected to lead an assault on privately financed infrastructure markets worldwide if its own financial ratios are in doubt.As it is, the rights issue, albeit the second this year, is expected to clear the group's debt and enable it to realise some of its ambitions ...

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