Statement re discovery of losses

RNS Number : 5445O

Safeland PLC

11 October 2012

 



Safeland plc ("Safeland" or the "Company")

11 October 2012

Statement re discovery of losses

Safeland announces that it has discovered that it has been the victim of a series of fraudulent transactions. The amount involved is currently estimated to be approximately £1.25 million. Of that sum, approximately £740,000 is believed to relate to the period prior to 31 March 2012, the Company's most recent financial year end and the balance relates to the current financial year.

The Company has already recovered £200,000 and arrangements are in place which are designed to recover a further £500,000 by the end of the current financial year. The Company is taking steps to seek to recover as much of the remaining amount as possible.   It is too early to predict how much, if any, of the outstanding funds can be recovered.

The Company continues to trade in the usual way despite the events disclosed in this announcement.

Further announcements will be made as appropriate.

Enquiries

Safeland plc	T: 020 8815 1600
Larry Lipman, Chief Executive

Westhouse Securities Limited	T: 020 7601 6100
Tom Griffiths

 

END

 

 

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