Outcome of Sentencing Hearing

About this update from Chesterfield Special Cylinders Holdings Plc

[{"type":"text","content":"\n \nRNS Number : 6488Z Pressure Technologies PLC 13 January 2020  \n\n13 January 2020\n \nPressure Technologies plc\n(\"Pressure Technologies\", the \"Company\" or the \"Group\")\n \nOutcome of Sentencing Hearing\nOn 26 November 2019, Pressure Technologies (AIM: PRES), the specialist engineering group, announced that its subsidiary Chesterfield Special Cylinders (\"CSC\") had been found guilty of a charge brought by the Health & Safety Executive (\"HSE\") pursuant to Section 2 of the Health and Safety at Work Act 1974 following the fatal accident in June 2015.\nThe sentencing hearing was held today at Sheffield Crown Court, during which a fine of £700,000 was determined and prosecution costs of £169,498.82 were set.  The Company has been given by the Court a period over which to pay the combined fine and costs, which it will do from operational cash flows. The first instalment of £214,879.92 will be made in April 2020 and six instalments of £109,103.15 will be made six-monthly from July 2020, with the final payment falling due in January 2023.\nChris Walters, Chief Executive of Pressure Technologies, commented: \n\"Chesterfield Special Cylinders and Pressure Technologies Group respect the decision of the jury and the sentencing that has been determined today. We deeply regret the events that resulted in the death of our colleague and long standing employee John Townsend, which has left a terrible gap in the lives of his family, friends and colleagues, with whom our deepest sympathies remain.\nThe Pressure Technologies Group operates in safety critical industries.  We are committed to achieving the highest safety standards and the Judge has today remarked upon the Company's decent safety record and attitude. This tragic incident occurred in June 2015 and in the period since then we have made significant changes and improvements to the way we operate at the Chesterfield Special Cylinders site and across all Group sites as we continually strive to improve the safety of our operations and our employees.\"\n \nFor further information, please contact:\n \n\n\n\n\nPressure Technologies plc\n\n\n \n\n\n\n\nChris Walters, Chief Executive \n\n\nTel: 0114 257 3616\n\n\n\n\nJoanna Allen, Chief Financial Officer\n\n\[email protected]\n\n\n\n\n \nN+1 Singer (Nomad and Broker)\...

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