Trinity Mirror PLC
4 February 2000
TRINITY MIRROR plc
STATEMENT RE: SHARE DEALINGS
Trinity Mirror plc ('Trinity Mirror' or 'The Group') today issues the
following statement relating to Piers Morgan, the editor of The Mirror, and
his shareholding in Viglen Technology Plc.
The Group has completed an inquiry, led by John Allwood, Deputy Group Chief
Executive, and Paul Vickers, Group Legal Director, into the facts relating to
the purchase of Viglen Technology shares by Piers Morgan on 17 January 2000.
The findings of this inquiry, which were presented to Group Chairman Sir
Victor Blank last night and have been supported by the Group's solicitors
Lovells, show that there are no grounds for any accusations of impropriety or
wrongdoing by Piers Morgan.
The Group also confirms that Lovells has been instructed to conduct an
independent review of best practice in regard to share dealings by employees
within the newspaper industry, and to advise on what, if any, amendments to
existing Trinity Mirror procedures be made. The Group will act on any
recommendations made by Friday 18 February.
Piers Morgan has voluntarily provided to the Board, and will provide to any of
the regulatory or investigating authorities, a full list of all of his share
dealings since his appointment as Editor of the Mirror in November 1995.
Furthermore, in order to end speculation over his Viglen Technology
shareholding, Piers Morgan has today sold all of his shares in Viglen
Technology. The net profit from this transaction will be donated by Piers
Morgan to charity on immediate receipt of the proceeds.
The Group notes the allegations in today's newspapers relating to other
Trinity Mirror employees and has therefore extended its inquiry. A further
announcement will be made as and when appropriate.
Enquiries:
Nick Fullagar Trinity Mirror plc 0207 293 3000
Rupert Younger Finsbury 0207 251 3801
James Leviton
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