17th Apr 2008 12:22
Morgan Sindall PLC17 April 2008 Morgan Sindall plc OFT Announcement 17 April 2008 Morgan Sindall plc (the Company) notes today's announcement by the Office ofFair Trading (OFT) that it has issued a Statement of Objections (SO) to a numberof construction companies in England in connection with its investigation intoalleged infringements of UK Competition law in the sector. The Company can confirm that the SO states that one of its wholly-ownedsubsidiaries, Morgan Ashurst plc (formerly Bluestone plc), has beenprovisionally found to have infringed UK Competition law by giving or receivingcover prices in respect of historic tenders. Morgan Sindall plc will becarefully considering the contents of the SO and will be replying to the OFT indue course. The Company and its subsidiaries take seriously their obligations under UKCompetition law and have taken steps to improve their processes to ensureongoing compliance in this area. Pending further steps in the proceedings and until a final decision has beentaken by the OFT in this matter, the Company will refrain from any furthercomment. However, it can confirm that Morgan Ashurst plc has co-operated withthe OFT's investigation under the OFT's leniency policy and, as a result, hasbeen provisionally granted a reduction in any penalty which the OFT mightultimately impose. Enquiries: Blythe Weigh Communications Paul Weigh 020 7138 3208 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Morgan Sindall Group