Kier Group PLC
17 April 2008
OFT announcement
17 April 2008
Kier Group plc notes today's announcement by the Office of Fair Trading (OFT)
that it has issued a Statement of Objections ('SO') to 112 construction
companies in England in connection with its investigation into alleged
infringements of UK Competition law in the sector. The announcement goes on to
say that 'no assumption should be made at this stage that there has been an
infringement of competition law by any of the companies named in the SO'.
Kier Group plc announced in May 2007 that the OFT had written to Kier in respect
of Kier Regional Limited's conduct in a small number of tenders it submitted
between 2000 and 2005. The SO, received today, names Kier Regional Limited as
one of the companies the OFT is investigating in respect of cover pricing. Kier
Group plc will carefully consider the contents of the SO and will respond to the
OFT in accordance with the OFT's timetable.
The Board of Kier Group plc confirms that it has strict guidelines and controls
in place to ensure that its business processes are fully compliant with
competition law and all other legal obligations.
Ends
For further information, please contact:
John Dodds, Chief Executive
Deena Mattar, Finance Director
Kier Group plc Tel: 01767 64011
Caroline Sturdy
Madano Partnership Tel: 020 7593 4000
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.