Outcome of European Commission investigation

RNS Number : 9440H

Synthomer PLC

29 November 2022

 

29^th November 2022

Outcome of European Commission investigation

Synthomer plc ("Synthomer") notes today's publication of the European Commission's decision following its investigation into Styrene Monomer purchasing practices between 2012 and 2018. Synthomer first disclosed this investigation to the market in June 2018 and has since completed a detailed review of its compliance and procurement functions.

The decision has resulted in a fine of €43.0m (£37.1m), modestly below the £40.1m provision that Synthomer announced at its interim results in August 2022. The fine is payable in 2023.

-ENDS-

Enquiries:

Investors:	Tim Hughes, Synthomer	+ 44 7764 859147
Press:	Charlie Armitstead, Teneo	[phone]

 

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