8 Jan 2014 07:00
8 January 2014
Sweett Group plc
("Sweett Group" or "the Group")
Conclusion of Independent Investigation
On 24 June 2013, Sweett Group plc (AIM CSG.L), the international construction and property consultancy, announced that it had initiated an independent investigation into an allegation of improper business conduct by a former employee which appeared in the Wall Street Journal on 22 June 2013. That investigation has now come to an end. The investigators were unable to speak to this former employee, who is no longer with the Group, as part of their investigation, as a result of which it has not been possible to close it with absolute certainty. Having reviewed the results of the investigation to hand, the Directors have concluded, however, that the allegation is not proven.
The allegation related to events in 2010 since when there have been many changes in the Group and monitoring and reporting requirements have grown in line with our geographic reach. The Group continues to monitor its businesses to ensure that it complies with appropriate regulatory and compliance procedures and has zero tolerance to bribery and corruption.
In this connection the Group has commenced preparations for accreditation under BS10500.
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For further information:
Sweett Group plc | +44 20 7061 9000 |
Dean Webster, Chief Executive Officer Patrick Sinclair, Chief Financial Officer Sophie Hull, Head, Corporate Communications |
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Westhouse Securities Limited | +44 20 7601 6100 |
Tom Griffiths Paul Gillam |
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FTI Consulting | +44 20 7831 3113 |
Oliver Winters |
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About Sweett Group
Sweett Group plc is a global business with expertise in property and infrastructure professional services. Our services include programme and project management, cost management, advisory and PPP/PFI investment.
We aim to forge long term, successful relationships with all stakeholders in the property and infrastructure industry. "Global knowhow, local delivery" is the essence of our business and our reach enables us to put global best practice to use in the local markets we serve.
www.sweettgroup.com