Morgan Sindall PLC
17 April 2008
Morgan Sindall plc
OFT Announcement
17 April 2008
Morgan Sindall plc (the Company) notes today's announcement by the Office of
Fair Trading (OFT) that it has issued a Statement of Objections (SO) to a number
of construction companies in England in connection with its investigation into
alleged infringements of UK Competition law in the sector.
The Company can confirm that the SO states that one of its wholly-owned
subsidiaries, Morgan Ashurst plc (formerly Bluestone plc), has been
provisionally found to have infringed UK Competition law by giving or receiving
cover prices in respect of historic tenders. Morgan Sindall plc will be
carefully considering the contents of the SO and will be replying to the OFT in
due course.
The Company and its subsidiaries take seriously their obligations under UK
Competition law and have taken steps to improve their processes to ensure
ongoing compliance in this area.
Pending further steps in the proceedings and until a final decision has been
taken by the OFT in this matter, the Company will refrain from any further
comment. However, it can confirm that Morgan Ashurst plc has co-operated with
the OFT's investigation under the OFT's leniency policy and, as a result, has
been provisionally granted a reduction in any penalty which the OFT might
ultimately impose.
Enquiries:
Blythe Weigh Communications
Paul Weigh 020 7138 3208
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